Chinese Investors to Use Thailand as Gateway to ASEAN Market: Thai Official

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Last updated at: (Beijing Time) Tuesday, July 23, 2002

Chinese Investors to Use Thailand as Gateway to ASEAN Market: Thai Official

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Chinese investors see Thailand as the most favorite place for investment in ASEAN, and will use the country as a gateway to the ASEAN market, Secretary-General to theBoard of Investment of Thailand (BOI) Somphong Wanapha said.

Somphong said after accompanying Deputy Prime Minister and Finance Minister Somkid Jatusripitak to visit China between July 15 and 19 that a number of Chinese investors agreed that Thailand is the most favorite place for investment in ASEAN, according to areport of the Thai News Agency Tuesday.

"This is because Thailand appears to be the most stable countryin the grouping politically, economically, and socially, and has agencies to assist and provide useful information for foreign investors," he stated.

ASEAN now groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Thailand's transparent investment promotion policies, which facilitate foreign investment in the country, also impress Chineseinvestors, Somphong disclosed.

Somkid led Thai delegates, including Somphong, to visit Beijing,Shanghai, and Zenzhen to attract more Chinese investment into the Thai economy.

Somphong said that at least six Chinese investors would visit Thailand in the near future to survey investment opportunities in such sectors as food production, chemical products, electrical appliances, and power production from solar cells.

Chinese investors also expressed interest in using Thailand as a production base and gateway for its exports to the ASEAN market,he noted.

The Thai government will support Chinese investors to use Thailand as their production base for rubber products and parts, and machines and parts, the BOI chief said.

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