Thai-Chinese Rayong Industrial Zone

CNC
Added On May 19, 2015

Statistics show that trade with countries along the Belt and Road, a China-proposed initiative to enhance international connections, amounted to 236 billion U.S. dollars in the first quarter of 2015.

Currently, China is engaged in the joint construction of 70 cooperative zones with Belt and Road nations.

Thai-Chinese Rayong Industrial Zone is one of them. With more than 60 Chinese companies, the industrial zone has created more than 3,000 jobs for local people.

One could not imagine that this piece of land was once a wasteland ten years ago. 

Today, this area has turned into a brand new industrial zone. 

July 1, 2005, China Holley Group and Thailand Amata Group signed an agreement to build and develop an industrial site at Rayong Province.

The industrial park has attracted foreign direct investments from many conglomerates, and more than 60 Chinese entrepreneurs.

SOUNDBITE (CHINESE): XU GENLUO, President of Rayong Industrial Zone

"China has been pushing forward the Belt and Road Initiative. Thailand is in this area. So our industrial zone has already made some preparation to attract Chinese factories."

 

Xu has been residing in Thailand for 15 years.

 

According to him, in ASEAN countries, Thailand has offered several investment incentives to FDIs, including zero tax incentives in its export products and manufacturing lines, and no restrictions on foreign ownership of factories.

Moreover, Thailand has rich mineral and biological resources, such as cassava, rubber, palm oil  and many other raw materials.

SOUNDBITE: (CHINESE) XU GENLUO, President of Rayong Industrial Zone

"The priority for FDIs is 'skill and technology'. And we hope that the FDI factories use resources in Thailand. We also hope that the raw materials used for production can be diversified, meaning the products can become a need in Thailand and abroad."

Established in 1987, Futong specializes in producing various cables for telecommunication. 

The group established a sister company in Thailand in 2010 at the Rayong Industrial Zone.

At present, Thailand’s three main telecommunication companies are all the clients of Futong.

SOUNDBITE(CHINESE): WEI GUOQING, Managing Director of Futong 

"Through business analysis, investing in Thailand is a good starting point, as Thailand is centered in the midst of South-East Asia. We are also offered investment incentives including zero-tax agreement on land and export products."

Chinese FDIs into Thailand has also contributed to a rise in employment for the Thais.

According to China's Ministry of Commerce, cooperation with Thailand on the Thai-Chinese Rayong Industrial Zone had created more than 3,000 jobs for locals.