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SUNDAY, December 04, 2022
Saudi execs hunt EEC opportunities in first Thai visit for 3 decades

Saudi execs hunt EEC opportunities in first Thai visit for 3 decades

TUESDAY, July 05, 2022

A group of around 100 Saudi businessmen led by the Riyadh Chamber of Commerce visited Thailand’s Eastern Economic Corridor (EEC) on Monday to explore investment opportunities.

The EEC Office said the Saudi entourage, which was led by Riyadh Chamber member Krayem Alenezi, was briefed on the progress of EEC projects and development.

The office also presented EEC investment opportunities to the Saudi businessmen, while Thai businesses pitched proposals for partnerships with their Saudi counterparts.

It marked the first visit to Thailand by the Riyadh Chamber of Commerce in 32 years, following the normalisation of Thailand-Saudi Arabia relations in January.

The Saudis arrived in Thailand on a return visit after Foreign Minister Don Pramudwinai led an entourage of Thai officials and businessmen to Saudi Arabia from May 15 to 19.

EEC Office secretary-general Kanit Saengsuphan said the office presented opportunities in sectors traditionally favoured by Saudi businesses, including digital and tech industries, health tourism, food processing, clean energy, and electric vehicle manufacturing.

Saudi execs hunt EEC opportunities in first Thai visit for 3 decades Kanit said the visit would likely attract investors from other Middle East countries to the EEC zone.

The second phase of the EEC Office’s investment plan (2022 to 2026) aims to draw 2.2 trillion baht in investment for the zone. The plan is targeting a rise of 400 billion baht per year in EEC investment, Kanit added.

The Saudi business delegation also visited an EEC “smart” factory belonging to SNC Former Plc, a household and automotive appliance manufacturer, to witness Industry 4.0 (digital) manufacturing. Kasit said the businessmen showed interest in factories that use digital technologies to control production.