Somkid looks to lure Chinese investment

Somkid looks to lure Chinese investment

Deputy Prime Minister Somkid Jatusripitak is scheduled to travel to Hong Kong and Shenzhen in southeastern China from June 27-29 to lure investors there to invest in infrastructure projects and 10 targeted industries in the Eastern Economic Corridor (EEC).

Mr Somkid is also scheduled to deliver a keynote speech at the third Belt and Road Summit in Hong Kong on June 28, where more than 80 speakers from Hong Kong, the mainland and countries along the Belt and Road will share their insights on development of that initiative, intergovernmental cooperation and business opportunities in different industries.

He is set to discuss how that initiative will drive the global economy and how Thailand and other Asean countries can get involved.

Mr Somkid also plans to deliver the latest developments of Thailand's EEC initiative, particularly five significant infrastructure projects, including the 224.54-billion-baht high-speed rail linking three airports of Don Mueang-Suvarnabhumi-U-tapao airport, the third phase of Laem Chabang port worth 95-105 billion baht, the third phase of Map Ta Phut port worth 11 billion baht and a 200-billion-baht aerotropolis at U-tapao airport.

Mr Somkid said he intends to attract several players form Hong Kong to invest in 10 targeted industries in the EEC.

The 10 industries are next-generation cars; smart electronics; affluent, medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; and medical services.

He said Thailand also aims to use Hong Kong as a linkage point to the Guangdong-Hong Kong-Macao Greater Bay Area, known as GBA, the Chinese government's scheme to link nine cities in the coastal province of Guangdong -- Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing -- with Hong Kong and Macao to establish a new business hub.

Mr Somkid said he is also scheduled to meet Terry Gou, founder and chairman of Foxconn, and visit its smartphone factory in Shenzhen on June 27.

Dai Zhengwu, vice-chairman of Foxconn Technology and chairman of Sharp Technology, recently met Mr Somkid in Bangkok to discuss investment prospects in the EEC, along with the firm's interest in moving smartphone production to the corridor.

Foxconn Technology, which took over Japan-based Sharp in 2016, has invested in Thailand through Sharp Appliances Thailand, with a focus on manufacturing TVs and electronic equipment.

Mr Somkid is also scheduled to meet executives from BGI or Beijing Genomics Institute, one of the world's genome sequencing centres, in Shenzhen.

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