Belt and road good for Thailand

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BANGKOK, 31 August 2018: China’s Belt and Road Initiative, particularly in the Mekong Region, will benefit Thailand’s tourism industry and bring increased investment and trade opportunities.

Addressing the Thailand-China Business Forum, last week, Deputy Prime Minister, Somkid Jatusripitak, said Thailand stands to gain enormous benefits from China’s belt and road initiatives.

He noted that the Thai government was moving forward to take advantage of increased investment and trade opportunities, not only in Thailand, but also those that in Southeast Asia.

Identifying the country’s strategic location in the region and its long-standing trade and economic cooperation with China, he said mega transport projects linking Thailand and China would bring immense opportunities.

Infrastructure projects and special initiatives underway include the Eastern Economic Corridor of Innovation (EECi), which will serve as an incubator hub for startups and human resource development in targeted industries.

Those industries include digital and software development, electric vehicles and automotive parts, automation and robotics, telecommunications, biotechnology, electronics and aerospace technologies.

Commenting on the initiatives, Tourism Authority of Thailand governor, Yuthasak Supasorn, said that all this economic activity would give a further boost to Chinese visitor arrivals to Thailand, especially in high-spending sectors; such as, MICE and business travel.

Chinese visitor arrivals to Thailand are already at record-breaking levels. In the first seven months of 2018, Chinese visitors totalled 6.8 million and will probably cross the 10 million mark by the end of the year.

(Source: TAT)

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