UOB and the China Council for the Promotion of International Trade (CCPIT) assist Chinese enterprises expanding into Thailand
UOB bank
UOB and the China Council for the Promotion of International Trade (CCPIT) assist Chinese enterprises expanding into Thailand
United Overseas Bank (UOB)’s Foreign Direct Investment (FDI) Advisory Unit and the China Council for the Promotion of International Trade (CCPIT) have hosted a trade delegation of 20 Chinese companies to share insights into investment opportunities in Thailand.
The delegation included companies from a range of industries including natural resources, communications and consumer goods. These are also among those listed under the Thailand Board of Investment’s “Thailand 4.0” development plan.
The delegation’s visit is part of UOB’s broader role in connecting companies in Southeast Asia and Greater China to trade and investment opportunities. As part of this, UOB is the first and only bank in Southeast Asia to sign two Memoranda of Understanding with the China Council for the Promotion of International Trade (CCPIT), China’s largest institution for the promotion of foreign trade and the Chinese Chamber of International Commerce (CCOIC), China’s national business association.
UOB was also the first bank in Southeast Asia to set up dedicated Foreign Direct Investment (FDI) Advisory units across the region. The unit connects clients with inter-and intra-regional opportunities and works closely with government agencies, trade and industry associations and professional service providers to promote regional connectivity in the areas of trade, finance and logistics.
Since its inception, UOB has facilitated investments of more than 500 Chinese enterprises into the region.
Mr Sam Cheong, Managing Director and Head of Group FDI Advisory Unit, said “Alongside Thailand’s strategic location at the centre of Southeast Asia, Chinese companies are also drawn to the country given the immense potential of a more interconnected region through the development of Eastern Economic Corridor.
“Our FDI Advisory network ensures we have a dedicated team of experienced professionals in each country, who understand not only their own local market dynamics but also the nuances of the Chinese culture. We recently set up a China Desk in Thailand and in four other countries – Singapore, Malaysia, Indonesia, and Vietnam – where we see the greatest activity and focus on the Belt and Road initiative.”
As at the end of 2017, China was Thailand's largest trading partner, with its bilateral trade volume of nearly US$7 billion[1].
Mr Cheng Qingtao, Vice President of Chinese Chamber of International Commerce (CCOIC), a sister organisation of CCPIT, said, “There is a growing presence of Chinese companies investing in manufacturing sectors partly due to the development of the Thai-Chinese Rayong Industrial Park located in Thailand’s Eastern Economic Corridor as well as the China’s Go out Policy.”
[1]Source: http://th.mofcom.gov.cn/article/d/201801/20180102702687.shtml
14 March 2018
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