Online seminar educates Thais on investing in China
The Thai Chamber of Commerce held an online seminar on Wednesday to enlighten Thai businesses and entrepreneurs about investing in China this year in the current Covid-19 situation.
The seminar discussed the Chinese economy, investment and expected trade between the Asian giant and Thailand in 2022.
Chairman Soopakij Chearavanont said Covid-19 has not stopped the Chinese economy from growing. All the virus has done is to pose a challenge.
Thai Ambassador to China Atthayut Srisamut said Chinese customer demands have changed due to the coronavirus. They need better and healthier products, he said, adding that the percentage of trade between Thailand and China increased by 3-4 per cent, while trade with other countries also saw an increase.
Chinese Ambassador to Thailand Han Zhiqiang noted that trade between Thailand and China has been on the increase for eight years, with the first ten months of 2021 alone seeing trade worth US$100 billion (Bt3.32 trillion).
The founder of Namu Life (Beijing) Trading and Thira Venture Boonchai Limatibul said the products that Thailand exports to China must be unique because Chinese people cannot travel to other countries right now. The Chinese, he added, can produce ordinary products themselves at low cost, so Thai products cannot compete against them.
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Dok Bua Ku director Kamthon Leelertphan said China’s lower class is seeing increasing revenue and consuming products like people in the city. However, they might not like these products so Thai businesses must create a variety of special items to attract these people.
Trends develop quickly in China, while the government there is also easing a lot of restrictions. So Thai business operators must adapt and follow the trends, he said.
Kudun and Partners lawyer Mayuree Sapsuttiporn said Chinese laws are easing and the investment process has been reduced so Thai businesses can benefit from this. Meanwhile, Thai law also grants privileges for Chinese investors, which includes allowing them to purchase real estate at prices lower than the market.
