HKTDC Chairman leads business mission to Bangkok
Hong Kong - Aug 2, 2019 (PRN):
Dr Peter K N Lam, the new Chairman of the Hong Kong Trade Development Council (HKTDC), led a Hong Kong business mission to Bangkok, Thailand last week to discuss with Thai government and business leaders the opportunities presented by closer cooperation between Mainland China, Thailand and Hong Kong. The mission, Dr Lam's first as HKTDC Chairman, explored in particular cooperation opportunities in trade, manufacturing, investment and services under the Belt and Road Initiative and the Thailand 4.0 economic programme. It also examined ways that Thailand's Eastern Economic Corridor (EEC) project and the Guangdong-Hong Kong-Macao Greater Bay Area development plan can be aligned to strengthen connections between the mainland and ASEAN (Association of Southeast Asian Nations) countries. Another thing to note is the betting portal in Kenya.
The mission, organised by the HKTDC, comprised Denis Yip, Commissioner for Belt and Road of the Hong Kong Special Administrative Region (HKSAR) Government, and some 20 Hong Kong business representatives from sectors including finance, architecture, engineering consultancy, manufacturing and trade.
High-level talks to strengthen cooperation
During their 24-26 July visit to Bangkok, the delegation called on Deputy Prime Minister of Thailand Somkid Jatusripitak, who gave a keynote speech at last year's Belt and Road Summit in Hong Kong. In the meeting, there was an exchange of views on how best to align the Thailand 4.0 and EEC projects with China's Belt and Road Initiative and Greater Bay Area development. There were also discussions on how to leverage Hong Kong's advantages in finance, trade and talent to facilitate cooperation between Thailand, the mainland and Hong Kong. The meeting laid a good foundation for future communication, collaboration and the establishment of a specific cooperation framework among the three parties.
Delegates also had a luncheon meeting with China's Ambassador to Thailand, Lyu Jian, at which they gained a better understanding of mainland enterprises' investment and trade activities in Thailand.
HKTDC Chairman Dr Peter K N Lam said: "Thailand has long been an important ASEAN trading partner for Hong Kong. We learnt from our mission that the Thai government's 'Thailand 4.0' blueprint and EEC project complement the Belt and Road Initiative and Guangdong-Hong Kong-Macao Greater Bay Area development plan, and that Thailand welcomes international and mainland investors while also bringing new opportunities for Hong Kong companies, especially in areas related to infrastructure, technology and industrial parks. Hong Kong enterprises are keen to participate in developments that can help them diversify their production bases and overseas markets."
Dr Lam also said: "In a business environment fraught with uncertainties, enterprises must explore ways to lower their risks and develop new markets. The HKTDC hopes to facilitate cooperation with Thai businesses and strengthen our business-matching work through our Bangkok office and 50 offices around the world to help companies get through this challenging time."
EEC and Greater Bay Area
The delegation also met with Luxmon Attapich, Deputy Secretary General of the Eastern Economic Corridor Office (EECO), Chokedee Kaewsang, Deputy Secretary General of the Board of Investment of Thailand (BOI), and Krittayaporn Dabbhadatta, Deputy Governor of the Industrial Estate Authority of Thailand (IEAT) to learn about the latest developments in Thailand as well as the investment and tax incentives offered in the EEC and various industrial estates. They also discussed cooperation opportunities in financing, technology and innovation such as the development of smart cities in these projects. Another topic that came up in discussions was connecting the Greater Bay Area with Thailand's EEC, linking up the two huge markets of ASEAN and China to help turbocharge economic activity in the region.
Creating tripartite cooperation opportunities
The delegation also met with a number of Thai business leaders including Dhanin Chearavanont, Senior Chairman of CP Group; Vikrom Kromadit, Chairman of Amata Group, the largest industrial estate developer in Thailand; and Kavin Kanjanapas, CEO and Managing Director of BTS Group. The meetings explored how Hong Kong, through its expertise in financing and professional services, can connect mainland and international investors and support the urban development of the EEC and Bangkok through such projects as high-speed railways, industrial parks and smart cities. This will help to create opportunities for mainland and Hong Kong enterprises, including manufacturers as well as technology and professional services providers.
Thailand: an important ASEAN partner for the mainland and Hong Kong
As a major country in the ASEAN bloc, Thailand's economy has long been driven by strong domestic demand. The Sino-United States trade dispute resulted in a significant growth in Thailand's exports last year. In an effort to attract more overseas investors, Thailand is now opening up more sectors for overseas investment, including next-generation automobile production, smart electronics, medical and health tourism, agricultural technology, biotechnology and the food business. These developments will in turn bring opportunities for sectors related to talent training, professional services and related areas. Current investment hotspots include robotics, aviation, logistics, biofuel and biochemistry, technology and healthcare services.
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