China's investment in Thailand quadruples in first seven months

China's investments in Thailand in the first seven months of the year increased more than four times to almost 8.87 billion baht (222.500 million US dollars) compared with the corresponding period last year, according to the Board of Investment (BOI).

Speaking at a seminar on "Strengthening of Sino-Thai Relations", BOI Secretary-General Sathit Sirirangaman was quoted by the Thai News Agency as saying Friday that China was one of the countries being targeted as a source of investment. Thailand was in a good position to display its potential as a possible production base for major industries in China.

He said the BOI had set a target of increasing investment from China by 30 percent this year. But the first seven months of the year saw the investment up to 8.87 billion baht (222.500 million US dollars) from 2.1 billion baht (52.5 million US dollars) in the same period of the previous year.

Sathit said there remained great investment opportunities between China and Thailand, particularly in the processed agriculture and vehicles and parts industries. Both countries had abundant raw materials, which were ready to offer investment incentives.

Thailand also had the potential to accommodate investment in major projects related to China's steel industry.

He said most Chinese investors wanted to obtain additional information on businesses that attracted support from the BOI and other incentives.

Many investors have shown keen interest in the logistics system, hotel and cold storage businesses, he added.

Source: Xinhua