Thailand to learn from China’s development

By Xinhua – Global Times Source:Xinhua - Global Times Published: 2018/8/26 18:48:40

EEC will be premier destination for Chinese enterprises: Thai deputy PM

Chinese experiences and investment are among the most important factors in supporting Thailand's economic development, Thai Deputy Prime Minister Somkid Jatusripitak said on Friday.

Addressing the "Thailand-China Business Forum 2018" in Bangkok, Somkid welcomed more investment from China. He also expressed thanks to Chinese enterprises, especially high-tech enterprises, which have actively invested in Thailand's Eastern Economic Corridor (EEC) project.

According to Somkid, Chinese enterprises have invested more than 60 billion Baht ($1.9 billion) in this area over the past two years.

Somkid, also known as "Thailand's economic czar," said that Chinese enterprises are playing a major role in helping Thailand's economic transformation and also the country's efforts in building up a digital society.

"Thailand is rich in natural and human resources, and has a competitive business environment. The EEC will be the premier destination for Chinese investors," the deputy prime minister told the forum attended by more than 400 Chinese businesspeople and entrepreneurs.

"In the past 40 years, China has achieved tremendous success in urban development and eradicating poverty. Thailand can learn and follow China's successful model in its development," he said.

Amid rising global unilateralism and protectionism, China is walking on its own path to advocate multilateralism and free trade and has played a leading role in global economic and social development through creating new connectivity, said Somkid.

He also said that China has been very successful in developing its economy by accelerating infrastructure construction, digitalization and economic structural reforms, adding that this experience will help Thailand find its own way of development.

The EEC project is a centerpiece of the Thai government's policy to lift growth and targets high-tech investment within a 13,300-sq-km area, integrating Thailand's east coast provinces of Chonburi, Rayong and Chachoengsao.

Chinese investors are keen on investing in many EEC-related projects such as the high-speed railway linking three airports, new-generation vehicles, smart logistics, digital infrastructure and education, the Bangkok Post reported over the weekend.


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