Thai PM courts Chinese tech giants for electronics, EV investments

Paetongtarn meets top executives to explore possibilities

 

Thai Prime Minister Paetongtarn Shinawatra met with top executives of leading Chinese technology firms in Beijing yesterday to discuss major investment opportunities in Thailand's electronics and electric vehicle (EV) sectors.

 

The PM held discussions with Jia Shaoqian, chairman of Hisense Group Holdings, and Alain Lam, vice president and CFO of Xiaomi Corporation at Diaoyutai Hotel as part of Thailand's push to attract high-tech manufacturing investment.

 

Government spokesperson Jirayu Huangsap confirmed that Thailand's Board of Investment (BOI) would serve as the primary facilitator for potential investments, offering comprehensive support to both companies.
  

The discussions with Hisense Group, a major manufacturer of smart home appliances, centred on expanding their existing investment in Thailand. The company, which employs more than 56,000 people globally, has committed to ambitious environmental goals, including achieving carbon neutrality by 2050.

 



In separate talks with Xiaomi's executives, discussions focused on the possibility of establishing the company's first overseas electric vehicle manufacturing facility in Thailand. The Chinese tech giant, which recently launched its first EV model (SU7) in March 2024, has shown keen interest in Thailand's growing EV market.

 

"Thailand offers the highest EV adoption rate in ASEAN, backed by robust infrastructure and supportive government policies", a BOI representative said. The agency highlighted Thailand's strong supply chain ecosystem and skilled workforce as key advantages for potential investors.
  



The Thai government emphasised its commitment to strengthening domestic supply chains whilst facilitating international investment. The BOI plans to implement business matching services to connect Chinese manufacturers with local parts suppliers, aiming to reduce transportation costs and ensure sustainable growth.

 

Paetongtarn stressed that both the government and BOI are prepared to offer various investment promotion measures and streamlined business processes to support these potential investments, which could significantly boost Thailand's position in the global technology manufacturing sector.

 

The meetings mark a significant step in Thailand's efforts to position itself as a key manufacturing hub for advanced electronics and electric vehicles in Southeast Asia, whilst fostering stronger economic ties with Chinese technology leaders.

(2025/02/07-00:00)