Hong Kong-based property giant eyes major investments in Thailand

TUESDAY, JULY 09, 2024

New World Development explores infrastructure and biotech industries following high-level talks with Srettha

New World Development (NWD), a prominent Hong Kong property firm, has shown keen interest in investing in Thailand’s strategic sectors, government spokesman Chai Wacharonke said on Tuesday.

This remark followed a meeting between NWD executives, led by CEO Adrian Cheng, and Prime Minister Srettha Thavisin at Government House.

Chai said the discussion focused on NWD’s interest in participating in Thailand’s ambitious 1-trillion-baht land bridge project, which will serve as a link between the Pacific and Indian oceans and the South of Thailand.

NWD is also eyeing Thailand’s digital finance sector and exploring opportunities in biotechnology, particularly in supporting medical tourism, he said.

Hong Kong-based property giant eyes major investments in Thailand

“The property firm is eager to expand its footprint in Asia through diverse investments and strategic partnerships,” Chai quoted Cheng as saying.

The government spokesman added that NWD recognised Thailand’s potential for collaboration across various fronts, including infrastructure development, digital finance, and cultural and medical tourism initiatives.

Srettha, meanwhile, has affirmed Thailand’s commitment to fostering knowledge exchange and facilitating investment opportunities. The Board of Investment will play a pivotal role in mediating these collaborations, Chai said.

The premier also supports Thailand’s role in hosting art and culture exhibitions to boost the value of intellectual properties and promoting tourism in Asia.

“The PM views this meeting as the beginning of fruitful partnerships and is happy that NWD has recognised Thailand’s investment potential,” Chai said.

Hong Kong-based property giant eyes major investments in Thailand

He added that Thailand stands ready to support NWD’s proposals, particularly in trade, investment facilitation and cultural endeavours aimed at boosting tourism and economic growth.

“The prime minister believes in Thailand’s capacity to develop infrastructure and enhance cultural offerings, that will elevate our global standing,” Chai said, highlighting the potential economic benefits of hosting world-class festivals and promoting intellectual properties in the region.