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Thai, Chinese entrepreneurs to seal $10b deals

(Xinhua)
Updated: 2009-07-29 01:08

PATTAYA, Thailand: Thai Prime Minister Abhisit Vejjajiva said Tuesday his government attaches great importance to Sino-Thai trade and investment, as entrepreneurs of the two countries signed letters of interest worth of $10 billion at the Thailand-China Business Forum here.

At the closing ceremony of the forum, which was held on Monday and Tuesday, Abhisit said "Thailand has an open policy toward foreign investment. As of Chinese investors, we feel that there is an infinity between Thais and Chinese, and there're many successful Chinese businesses here, so we'd like to encourage more to come to Thailand."

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According to Lu Junqing, chairman of World Eminence Chinese Business Association (WECBA), one of the organizers, 48 letters of interest worth about $6.2 billion were signed on the first day of the forum. "The whole forum is expected to attract for Thailand a total of $10 billion of Chinese investment and purchase," said Lu.

Lu said that there are many opportunities in Thailand for Chinese investors, since the Thai government has launched a three- year investment stimulus package of $45 billion, and trade of Thailand and China is highly complementary, with few trade conflicts or competition.

Deputy Prime Minister Suthep Thuagsuban and Industry Minister Charnchai Chairungrueng also attended the closing ceremony.

The forum, co-hosted by Thailand's Industry Ministry and WECBA, attracted nearly 300 Chinese entrepreneurs from the Chinese mainland and across the world, as well as more than 500 Thai businessmen.

Monta Pranootnorapal, governor of Industrial Estate Authority of Thailand, said in her speech to the Chinese guests that the yearly volume of Sino-Thailand trade and investment stands around $36 billion, with a projection of reaching 50 billion dollars in the next five years.