Bangkok – Thailand’s Ambassador to China has assured investors that the Thailand 4.0 and Digital Thailand initiatives are synchronous with China’s trade and investment plans and should result in Chinese private capital flowing into the Kingdom but noted that legal changes to better accommodate the development are needed.
Thai Ambassador to China, Piriya Kempol pointed out Thai-Chinese relations are strong across the board from tourism and trade to religion and education, noting that such ties have rapidly developed compared to their rate over the previous 50 years.
The ambassador highlighted that China has entered a phase of development and has high purchasing power due to its expanding middle class, which is apparent in its uptick in tourism. China is also turning its focus to technology, which Piriya said matches up with the Thailand 4.0 and Digital Thailand development agenda. He added the One Belt One Road Initiative of the Chinese government also complements Thai projects such as its Eastern Economic Corridor and high speed rail efforts and should result in more investment by China in Thailand.
The diplomat emphasized that China’s declaration of Thailand and the ASEAN Economic Community as part of its new economic corridor is a signal to Chinese investors to look into the region. He recommended that the Thai government prepare itself to reap the benefits of these developments and open itself up to foreign investment and new technologies.
