Chinese Investment Here To Stay
Due to Thailand’s position in the ASEAN free trade bloc, it has become the country to do business and has attracted plenty of Chinese investment over the last years. There is free trade access to China and India, it has become a mainstay for Chinese business.
The majority of the business has primarily come from digital economies. This has built a vast connective hub within the country. Thailand is now a key figure in the Asian Tech industry.
Money is being generated through various methods within Thailand. The Chinese investors have put a lot of time and energy into digital technologies such asblockchain, AI, crypto and fintech. The healthcare and medical tourism industry has also benefited largely from Chinese investment.
There has been a huge effort put into the infrastructure of the country, connecting it with ASEAN, export markets and development of various free trade zones. This, tied in with all the recent foreign investment, is pushing the country towards a much more competitive global position, bringing much more foreign investment into the South Asian region.
Thailand has endless opportunities for business. If you are considering investing in existing or new companies in The Land of Smiles, it’s important to secure the correct insurance policy. Ensure you find the right policies for your business or Start-up by engaging with people who are experts in the field.
Thailand is both a member of ASEAN and RCEP. Both of these groups have been combining development with free trade and developing the country’s manufacturing industry. This is the main reason why so much Chinese and overseas investment has flooded the country as companies wish to reduce their reliance on China.
In terms of investment, China was the second-largest foreign investor in Thailand last year after Japan.
As of the third quarter last year, the accumulated value of Chinese investment in Thailand tallied about $8 billion
In 2021, China submitted 112 projects for investment applications with the Board of Investment valued at copy.21 billion, which was an increase of 25% on the previous year.
Thailand Insurance Service is always happy to answer any questions on these policy issues and steer buyers towards making informed insurance purchase decisions.