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Guangzhou holds event to boost mutual investment with Lancang-Mekong Countries
Update: 2024-04-01     Source: GDToday

An exchange meeting entitled "Invest in Lancang-Mekong Region for High-quality Development" was held in Guangzhou. About 70 people participated in the event, including government officials from Guangzhou, representatives from the Royal Thai Consulate-General in Guangzhou, the Consulate General of Cambodia in Guangzhou, and the Lao National Chamber of Commerce and Industry in Guangzhou. Also in attendance were Chinese export-oriented enterprises, international business associations, and experts and scholars from universities in the Guangdong-Hong Kong-Macao Greater Bay Area.

Representatives of the Consulates General of Lancang-Mekong Countries in Guangzhou provided policy interpretations to help participants gain an in-depth understanding of the business environment and investment policies of their countries. This would enable enterprises to better adapt to the local multicultural background and various market needs.

Chanokporn Noohom, Consul (Investment) of the Royal Thai Consulate-General in Guangzhou, said that in the first three quarters of 2023, Thailand's total foreign direct investment increased by 43% year-on-year, with the largest increase in investment from the Chinese mainland. For the whole year 2023, Thailand's foreign investment amounted to 663.239 billion baht in 1,394 projects, among which investment from the Chinese mainland accounted for 159.387 billion baht in 430 projects.

"Up to now, 13 Chinese electric vehicle companies that have invested in Thailand have submitted a total of 14 new-energy vehicle investment projects, with a total production capacity of about 276,000 vehicles," said Chanokporn Noohom. "According to the Thai government's target production of 725,000 electric vehicles in 2030, one third of the target has already been achieved."

Lao Nguon Eng, Commercial Attaché of the Consulate General of Cambodia in Guangzhou, pointed out that in 2023, more than 60% of Cambodia's foreign investment came from China, ranking first in foreign investment. "Chinese companies have invested in Cambodia in a wide range of sectors, including transportation, agriculture, manufacturing, tourism development, special economic zones, as well as information and communications," he said.

This marks the eighth anniversary of the Lancang-Mekong Cooperation (LMC). China initiated the LMC Special Fund in 2016 with the aim of supporting small and medium-sized cooperation projects proposed by the six LMC countries, namely China, Cambodia, Laos, Myanmar, Vietnam, and Thailand.

This event brought together enterprises and associations from key areas of Lancang-Mekong regional production capacity cooperation, such as energy, agricultural processing and agri-food, building materials, and cross-border e-commerce. It established channels for them to gain an in-depth understanding of local policies and market environments and created a platform for experience sharing at the same time.

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