Commerce Ministry encourage Thai operators to invest in China

BANGKOK, Feb 22 (TNA) -- Thai business people should invest in China as foreign investors are flocking into the country for its high growth potential, according to Commerce Ministry's senior official. Malee Choklumlerd, director-general of the Department of International Trade Promotion, said today that foreign direct investment in China amounted to US$12.63 billion in 2015 and rose by 6.4%. Attractive sectors were medical and health care businesses, environmental conservation, pharmaceutical manufacturing, telecommunications and services. High-technology industries grew slower and consumers increasingly demanded quality products and services. Investment in the service sector in China rose by 17.3% and formed 61.1% of all investment. Ms Malee said that global companies still considered China as a potential market suitable for considerable investment in services, manufacturing and agriculture. Investors in China last year included Syngenta, Volkswagen, Samsung Electronics, Lufthansa, Air Liquide, Bridgestone and Intel. As for Starbucks, China is the second biggest market after the United States. There are plans to open 500 new shops there this year and employment should cover 10,000 workers in 2019. Uber of the US has invested 6.3 billion yuan to expand its taxi and lending services and other businesses. Nachathorn Manopanjasiri, director of the international trade promotion office in Kunming, said China was attractive to investors due to its investment, technology, workers’ skills, efficient supply chains and business environment. Despite its present economic slowdown and fluctuations in its money market, China has its New Normal policy to curb risks, improve fund management and support its long-term economy. There were still plentiful successful opportunities for Thai operators especially in restaurant, spa, hotel and e-commerce businesses because China increasingly stimulated local consumption and promoted the service sector, Ms Nachathorn said. (TNA)