Liquor tycoon tipped to join surge of Thai investors in China
Property and liquor tycoon Charoen Sirivadhanabhakdi may join the wave of Thai investment into China by acquiring a hotel in Guangzhou, caretaker Deputy Prime Minister Somkid Jatusripitak said yesterday.
Somkid, who is also the caretaker commerce minister, said Charoen was interested in investing in just about any hotel in Guangzhou, where tourism is one of the fastest growing industries.Besides serving as chairman of Thai Beverage Plc, the Kingdom's largest beer and liquor producer, Charoen is a major property developer through his TCC Land Co Ltd, which has developed projects in Bangkok on its own and through a joint venture with Singapore's CapitaLand. Meanwhile, Boonsithi Chokwatana, chairman of consumer-products manufacturer the Saha Group, is keen on investing in a logistics company. "That business would help Thai exporters access the Chinese market," said Boonsithi, adding that food exporters and those exporting in bulk would be the target clients. He said the logistics business was booming in China, after annual double-digit growth that has sparked a demand for such services on the mainland. Earlier, logistics firms that served exports to China were based mostly in Singapore or Hong Kong. Charoen and Boonsithi were among a group of businessmen accompanying Deputy Premier Somkid on an official four-day visit to high-ranking Chinese officials and business leaders in Guangdong, Macau and Hong Kong. Kraisorn Chansiri, chairman of Thai Union Frozen Plc, also participated in the trip, which wrapped up yesterday. He is hopeful of penetrating deeper into the Chinese market. The trip was aimed at facilitating trade and investment between China and Thailand, including opening up China to more Thai fruits. Somkid expected to win Guangdong's support in promoting Thai trade and investment after he met with Zhang Dejiang, secretary of the Guangdong Provincial Communist Party Committee, on Wednesday. Somkid said the Thai government strove to work with China at every level to pave the way for increasing trade and investment in that country. Fresh fruits are among targeted products that have drawn the most attention. Somkid said he asked the Guangdong leader to double the number of its residents visiting Thailand to 400,000. Currently, Thailand welcomes 800,000 Chinese tourists annually, of which 200,000 are from Guangdong. Somkid said he asked the Guangdong leader to allow residents of his province to travel to Thailand individually and not only as part of group tours. "Zhang Dejiang told us that would not be a problem," he said. He said fruit exports to China were high but could increase. To penetrate China more efficiently, the government should better enable exporters to exploit all three Chinese distribution channels: traditional markets, logistics services and retail outlets. Somkid said the meeting resolved to establish a high-ranking subcommittee over the next three years for Thai-Guangdong trade and investment cooperation. Moreover, Somkid said Thai Airways International might increase its Bangkok-Macau service from one flight a week to two. Sasithorn Ongdee The Nation Guangzhou, China
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