In the first eight months of 2015, Chinese companies submitted 37 projects to Thailand’s Board of Investment, worth a total of 280 million US dollars – for the first time overtaking investment in Thailand by Japan.
Thailand’s government is offering tax concessions and other incentives, in an effort to revive the country’s stalled economy.
“China is one of our target regions so we’ve opened three BOI offices in China. We see that China is so strong right now, its business has developed, it has very good technologies and it’s very competitive in the world, so this is one of our target potential investors,” Ajarin Pattanapanchai, deputy general secretary of Thailand Board of Investment, said.
Foreign investment is providing a much-needed shot in the arm for Thailand, whose economy has been flagging amid sluggish exports and political uncertainty.
Whilst many potential investors have adopted a ‘wait and see’ approach, China has continued to show confidence in south east Asia’s second-largest economy.