The Eastern Economic Corridor (EEC) Office has signed a memorandum of understanding with the Federation of Hong Kong Industries (FHKI) to promote cooperation in the government's flagship hi-tech investment hub.
Luxmon Attapich, deputy secretary-general of the EEC's Investment and International Affairs Group, and Daniel Yip, chairman of the FHKI, inked the deal in Hong Kong on Thursday.
Deputy Prime Minister Somkid Jatusripitak and Paul Chan, Hong Kong's financial secretary, were among witnesses.
The MoU is aimed at expanding cooperation between the government and Hong Kong's private sector to promote and facilitate investment in S-curve targeted industries, research and development, advanced technologies and innovations to support start-ups in the EEC.
The S-curve industries include robotics, aviation, bioeconomy, medical devices and the digital economy.
Mr Somkid said businessmen from Hong Kong will visit the EEC this month, adding that Hong Kong's investors plan to move their investment bases to Thailand and other Asean countries to avoid the US-China trade spat.
The EEC is the government's flagship investment scheme, spanning the eastern provinces of Chon Buri, Rayong and Chachoengsao. Due to be completed by 2021, the project is aimed at creating a technological, manufacturing and service hub connected to Asean neighbours by land, sea and air.
The Industry Ministry aims to promote 50 local startups in 2019 through its new venture capital firm, InnoSpace Thailand Co.
Founded in January 2019, InnoSpace Thailand is a venture between the public and private sectors with an initial budget of 500 million baht, and is envisioned as an incubator for Thai startups.