Chinese entrepreneurs are expected to invest 90 billion baht in Thailand, driven by concerns over the incoming US president’s plans to impose high tariffs on Chinese exports, according to the Board of Investment (BoI).
They are particularly interested in areas such as battery manufacturing for electric vehicles (EVs), equipment production for data centers, and biodegradable packaging.
“This is a crucial opportunity to attract significant investment projects from companies specializing in high technology,” stated Narit Therdsteerasukdi, the BoI’s secretary-general. “Their investments in Thailand can enhance local industries, as batteries and high-tech electronic components are essential for various sectors.”
Mr. Narit made these remarks following a visit to Shanghai from November 19-22 by Deputy Prime Minister Pichai Chunhavajira and BoI officials, where they engaged with Chinese business leaders and presented investment incentive packages available in Thailand.
At least six companies are expressing interest in setting up operations in Thailand with a collective investment budget of 90 billion baht. Two of these firms aim to produce battery cells to support the burgeoning EV, energy storage, and clean energy sectors, according to Mr. Narit.
Three additional companies plan to design and manufacture computer chips and other necessary equipment for data centers and telecommunications, intending to use Thailand as a base for exporting their products. The investment from these companies is expected to create engineering jobs and assist Thailand in advancing its artificial intelligence technology.
A fifth company seeks to establish a bio-packaging factory that will use bagasse as raw material to create eco-friendly packaging for food products. This enterprise not only utilizes agricultural waste but also adds value to bagasse, noted Mr. Narit.
During the Shanghai trip, Mr. Pichai’s delegation also discussed strategies with the Chinese energy and battery industry association for managing used batteries. Mr. Narit emphasized the need for battery recycling technologies and regulatory measures for the disposal of used batteries, anticipating an increase in their numbers in Thailand in the future.
