Thailand expects trade and investment with China to increase under the Belt and Road Initiative as Bangkok unveiled incentives for foreign investment.
"Thailand supports very much the Belt and Road Initiative which is meant to improve prosperity and benefit for people and countries," Arthayudh Srisamoot, director general of the Department of International Economic Affairs, Ministry of Foreign Affairs, told Shanghai Daily. "Greater trade and investment will connect countries closer to each other and lift incomes of the people."
He said Thailand would like to focus on cross-border trade in commercial goods and agricultural products, investment in high technology and logistics as well as cultural exchange between people of the two countries.
"Both Thailand and China are investing in innovation, high technology, and higher quality products, and we will need to encourage greater cross-border investment," said Arthayudh. "A shared culture and more convenient railway connections between the two countries also promote tourism in both directions."
Foreign investment is welcomed in building airport, ports, and railroads as well as automatives, electronics, tourism, and robotics.
Thailand will offer firms exemption from corporate income tax for as long as 15 years, and ease rules to facilitate high value investment, officials said.