Thailand's Board of Investment (BoI) has agreed to form a partnership with China Development Bank Corporation (CDB) to promote direct investment between the countries.
A memorandum of understanding (MoU) will be signed today as Chinese Premier Li Keqiang arrives in Thailand for a two-day visit, said Industry Minister Prasert Boonchaisuk.
"The MoU will focus on the mutual benefits of exchanges of information to facilitate and stimulate direct investment between the two countries," said Mr Prasert.
Investment promotion activities will be highlighted and investors will be supported in searching for business opportunities in both countries, he added.
"The BoI has worked with CDB since 2011. During the official visit of the Chinese premier, we are confident that the MoU will help develop closer investment cooperation between the countries," Mr Prasert said.
"Apart from attracting Chinese investments to Thailand, we are aiming to promote potential Thai investors to invest in China too."
BoI secretary-general Udom Wongviwatchai said China is among targeted countries for both inbound and outbound investment.
In the past six years, Chinese investors in Thailand have led 11 projects worth 118 billion baht.
In the first eight months of this year, Chinese firms ranked second among foreign investors in Thailand, with 28 projects worth 18 billion baht submitted to the BoI, mainly involving metals, parts, natural rubber and tyres, and electronics.
"Thailand aims to attract more investments in sectors that have high added value, such as natural rubber, agricultural machinery, automobiles and electronics," Mr Udom said.
Major Chinese investors in Thailand are home appliance company Haier, CIMC Vehicle and tyre maker LLIT.