PM woos CITIC Group for investment on sidelines of Beijing Belt & Road Forum

Srettha and the Thai delegation are in Beijing to attend the 3rd Belt and Road Forum for International Cooperation.

Government spokesman Chai Watcharong said Srettha met Zhu Hexin, chairman of CITIC Group Corporation, at 9am on Tuesday.

CITIC is one of the largest conglomerates in China, with businesses in comprehensive financial services, advanced intelligent manufacturing, advanced materials, new consumption, and new-type urbanisation.

The group has a vast global presence, with offices and operations in more than 30 countries and regions.

It has been ranked among Fortune’s Global 500 firms for 15 consecutive years since 2009 and was ranked 100th this year.

According to the spokesman, CITIC Group has expressed interest in investing in mega projects under public-private partnerships and other businesses in Thailand.

The spokesman said Srettha invited Zhu to invest in five strategic industries in Thailand, especially in bio-circular-green (BCG) industries, electric vehicles, chip-making and smart electronics and creative digital technologies.

Specifically, Srettha has asked Zhu to consider expanding CITIC’s financial businesses in Thailand, such as opening finance firms or banks.

He also asked Zhu to consider starting supply chain businesses to feed Thailand’s budding EV industry. The premier has also promised the CITIC chief investment privileges from the Board of Investment, saying Thailand was very good for investment.

The spokesman said the premier has also asked Zhu to consider opening regional headquarters in Thailand.

Chai said Zhu responded to Srettha’s offers by saying that CITIC would like to cooperate with Thailand in several fields, and is interested in investing in clean energy businesses, as well as developing industrial estates in the Kingdom.

Zhu has also expressed confidence in the current government and applauded the good bilateral ties between China and Thailand.