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Year 2019

Thailand-Zhejiang(Wenzhou) two-way trade and investment conference

Honorable Deputy Minister of Commerce of Thailand Sansern Samalapa
Honorable Vice President of China Council for the Promotion of International Trade, Zhejiang Provincial Committee Lin Wei
Honorable Vice President of the China Council for the Promotion of International Trade Wenzhou City Committee Zhu Qianji

Dear leaders, all the guests, colleagues from the Chamber of Commerce and media reporters, good afternoon!

Today is the Thailand-Zhejiang (Wenzhou) the two-way trade and investment exchange meeting jointly organized by the Zhejiang Provincial Council for the Promotion of International Trade, together with the Wenzhou City Council for the Promotion of International Trade and the Wenzhou Chamber of Commerce in Thailand. It is an exchange meeting to implement China’s national “Belt and Road” strategy and Thailand 4.0, and further strengthen the economic and trade relationship between Zhejiang (Wenzhou) and Thailand, and help Zhejiang companies expand the Thai market, seek for resources sharing and achieving win-win cooperation. On behalf of the Wenzhou Chamber of Commerce in Thailand and the Association of Thai and Chinese Overseas Chinese Merchants, I warmly welcome the Zhejiang trade delegation led by Vice President Lin Wei, the leaders of my hometown and entrepreneurs from my hometown to visit Thailand. We are very willing to act as a go-between for companies seeing development in Thailand and provide full services.

The Wenzhou Chamber of Commerce in Thailand prepared in 2014 and was formally established in December 2016. It is a non-profit social organization approved by the Ministry of Interior of Thailand. Its establishment is to promote economic exchanges with fellow towns, enhance trade cooperation, and strengthen the economy, trade, finance, humanities and other activities of Zhejiang and Thailand. And play a good role in bridges and ties between Thailand and China, play the role of the community, and tell a good story of China.

The member units in Chamber of Commerce are more than 110, basically engaged in trade and mainly manage hometown goods, such as Yueqing low-voltage electrical, Cangnan printing and packaging products and household bedding, Ruian automobile and motorcycle tools and sanitary products. There are also factories for gifts, bags, rides, latex pillows, mattresses, underwear, and so on. All belong to traditional industry operators and they have a steady development.

Chinese overseas who choose to develop their career in Thailand are the luckiest, because Thailand has many superior conditions, such as Thailand is the country where overseas Chinese have the highest status in the world, Thailand is the country with the highest happiness index in the world, and Thailand is the most inclusive in the world, Thailand is one of the most reasonable countries in the world for price control. Thailand is one of the few countries in the world that is driven by the three industries of industry, agriculture and tourism services. The quality and smile of Thai people are well-known in the world. Therefore, we also feel that we are very happy when we work and live in Thailand, and there won’t be much pressure in life.

In recent years, in order to achieve sustainable economic development and combine the Chinese “One Belt, One Road” initiative, the Thai government has launched the “Thailand 4.0” development model. Under this development model, Thailand will carry out reforms, relying more on innovation and technology, and paying more attention to society, education, environmental protection and people’s happiness index. To this end, Thailand will develop the top ten target industries in the future:

Five of Thailand’s existing advantageous industries that are blessing new technologies –

1) Modern automobile manufacturing,
2) Intelligent electronics industry,
3) High-end tourism and health tourism,
4) Agriculture and biotechnology,
5) Food processing industry;

Five future industries that offer new opportunities for investment –

1) Robot manufacturing,
2) Aviation industry,
3) Biofuels and biochemistry,
4) Digital economy,
5) All-round medical industry.

Also, Thailand’s five directions for global investors:

1) Core technology,
2) Human resource development,
3) Infrastructure construction,
4) High-end enterprises,
5) Target industry.

Thailand under the development 4.0 strategy will be divided into six major regions according to the basic orientation. Among them, Chachoengsao, Chon bury and Rayong, the three economically developed cities of the eastern part of Thailand will be built as the eastern economic corridors, will become the key development areas under the strategy of Thailand 4.0, and try to become the most advanced economic development center in Thailand.

The government plans to invest at least $43 billion in the region in the first five years to complete a range of infrastructure, including the expansion of Utapau International Airport, Laem Chabang Port, the high-speed railway from Bangkok to Rayong, and the complete the construction of regional rail links and highway.

In order to develop 4.0, the Thailand government has released five major preferential policies:

  1. Corporate income tax reduction. Enterprises that invest in Thailand can enjoy the corresponding corporate income tax reduction. Some high value-added and high-tech industries that meet the requirements can receive up to 15 years of the corporate income tax credit.
  2. The personal income tax rate of foreign-invested executives is also very favorable, and the personal income tax rate of 15% is the lowest among ASEAN countries.
  3. Foreign companies investing in Thailand can also obtain a number of non-tax concessions such as permanent ownership of land and visa convenience.
  4. Investors can complete all formalities in the one-stop investment service center affiliated to the Thailand Board Promotion of Investment (BOI).
  5. Thailand has also established a development fund of 10 billion baht, and eligible enterprises can apply for it.

The preferential policy of Thailand 4.0 has benefited many investors, and also overseas Chinese in Thailand. Therefore, Wenzhou businessmen that developed and started in Thailand are also not out of date. In 2018, the Wenzhou Chamber of Commerce in Thailand signed a strategic cooperation agreement with Thailand’s Tribeca Enterprise Co., Ltd. In the same year, the Wenzhou Business Industrial Group (Thailand) Co., Ltd. was established, which was in the background of the Wenzhou Chamber of Commerce in Thailand. It is meant to cooperate with Tribeca Enterprise Co., Ltd. to develop 20000 mu industrial land in LK-Rubber Industrial City Hub. Recently, Wenzhou Business Industrial Group and Tribeca Enterprise have established Zheshang Industrial Group which is a service company specializing in building factory rentals, sale on behalf of rent (first renting and then buying), or factory custom rental, and also a one-stop service company for Zhejiang businessmen come out to invest.

When Zhejiang businessmen wish for better development, Thailand is the first choice because Thailand is the safest country to invest in.

Finally, once again, welcome hometown leaders and entrepreneurs to Thailand for on-the-spot business visits, and I wish the delegation a complete success!

Thank you!

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