Investors urged to get a foot in the door in China now
China is an attractive destination for Thai investors, with opportunities in a variety of sectors as well as strong economic expansion and rich natural resources, government officials and academics said yesterday.
They said China had a high demand for goods and services and that the market responded very well to all kinds of new investment. Speaking at the seminar "China: One Country, Many Provinces and Different Regulations" at Bangkok's United Nations headquarters yesterday, speakers urged Thai investors to set up businesses in China while carefully studying the different trade and investment regulations in each province. They said the move to operate domestic businesses through outsourcing by Thai enterprises would not only generate high income for the Kingdom, but also increase competitiveness and efficiency for Thai enterprises in the world market. Deputy Prime Minister and Finance Minister Pridiyathorn Devakula said China was a high-potential market for Thai investors in terms of being a good trading partner. However, only a small number of Thais invest in China. He said there would be strong competition in China in the near future, so Thai investors should take the opportunity to access the market now. Interesting sectors include agriculture, plastics and electronics. Thammasat University economics lecturer Aksornsri Panitchsarn said China was closely monitored by all foreign investors, thanks to its rapid economic growth. "As China is a neighbour in East Asia, Thai investors should gain more opportunity by its economic growth," she said, suggesting that Thai investors should study each province's trade regulations so they will not face obstacles when they attempt to access the country. China has the highest foreign reserves in the world at US$900 billion (Bt33.71 trillion), beating even Japan. It is estimated that China will achieve $1 trillion in reserves next year. Apiradi Tantraporn, director-general of the Trade Negotiations Department, said the economies of Thailand's traditional key markets, such as the US, Europe and Japan, have shown slower growth. As a result, a move to China will help increase trade opportunities for Thai traders and investors. Although China's business opportunities are wide open now, the country will soon impose more investment restrictions to protect its local enterprises. The Commerce Ministry said Thailand faced a trade deficit with China in the first eight months of this year. Exports to China grew 26.23 per cent to $7.25 billion, while imports grew 19.05 per cent to $8.81 billion.
Anoma Srisukkasem Petchanet Pratruangkrai The Nation
|
