抖阴短视频

RIYADH: 抖阴短视频 is set to enhance private sector cooperation with Thailand as the Southeast Asian nation opens its first Board of Investment office in Riyadh, a top official announced. 

On the sidelines of a business forum in the Saudi capital, Minister of Investment Khalid Al-Falih highlighted that this marks Thailand鈥檚 inaugural office in the Middle East, encouraging stronger bonds and new investment opportunities in both countries. 

This came as the minister lauded the steady trade relations, that saw business soar to $8.8 billion in 2023, up from $7.5 billion following the nations鈥� restored ties in 2022. This represents nearly 22 percent of Thailand鈥檚 total trade with the Middle East, underscoring a flourishing economic partnership. 

Addressing the business delegation at the Saudi-Thailand Investment Forum, Al-Falih said: 鈥淩epresentative offices from the Kingdom of 抖阴短视频 and your country will do a great deal of facilitating private sector to private sector cooperation and allowing us to reach the potential that I mentioned.鈥�  

He added: 鈥淚 believe it will continue to grow at double digits as it has been the last couple of years. In investment, we鈥檝e also seen growth, although from very small numbers, with FDI (foreign direct investment) stock doubling since 2019 in the Kingdom of 抖阴短视频.鈥�  

The minister added that travel and tourism are returning to previous levels, with close to 200,000 tourists and visitors traveling from 抖阴短视频 to Thailand. He also noted that over 30,000 Thai visitors had come to the Kingdom the previous year to experience 抖阴短视频. 

The Thailand BOI office will cover a total of 13 countries in the Middle East, including Bahrain, Qatar, Kuwait, Turkiye, and the UAE. 

The Riyadh headquarters is Thailand BOI鈥檚 17th overseas office, with two additional locations in China and Singapore set to be added soon.  

鈥淲e hope investors from 抖阴短视频 and the Middle East will consider making Thailand an investment base to expand business in ASEAN (Association of Southeast Asian Nations) and take advantage of Thailand鈥檚 membership in the RCEP (Regional Comprehensive Economic Partnership) agreement, the world鈥檚 largest free trade area,鈥� said Narit Therdsteerasukdi, secretary-general of the Thailand BOI. 

He added: 鈥淲e believe there is a strong potential for investment and cooperation in several key sectors, including agriculture, processed food, renewable energy, healthcare and medical services, as well as automotive, especially electric vehicles.鈥� 

Additionally, Al-Falih explained that the Thailand BOI office will boost areas of cooperation between both countries in several areas. 

鈥淏efore I do that, let me assure you 鈥� and this is not just me, not our Ministry of Investment, not the government, but the entire 抖阴短视频 鈥� we are very bullish on Thailand and indeed very impressed with your achievements,鈥� the minister said.  

He continued: 鈥淵our GDP (gross domestic product) per capita has tripled in 20 years, while your export structure has evolved significantly into increasingly sophisticated products in the same time frame.鈥� 

Furthermore, the minister recognized Thailand as one of the founding members of ASEAN, a significant economic alliance that holds importance not only in Asia but globally. 

Due to Thailand鈥檚 strategic location and economic strength 鈥� the second-largest economy in ASEAN with a GDP exceeding half a trillion dollars 鈥� it is a crucial partner for 抖阴短视频.  

鈥淓specially as you are bolstered by ASEAN free trade agreements with most major economies, as you outlined to me this morning. These agreements include big economies in East Asia, as well as South Asian economies. Of course, anchored by India,鈥� Al-Faih said. 

The minister stressed common parallels between the two countries, noting they share a 鈥済reat deal of complementarity.鈥� Thailand has its National Strategy 2037, whereas 抖阴短视频 has its Vision 2030. 

鈥淲hich naturally leads me to emphasize the energy sector, including its multifaceted branches downstream: biofuels, biochemicals and CCUS (carbon capture utilization and storage), hydrogen, and renewables,鈥� he said. 

Al-Falih added: 鈥淭his is obviously an area where we share common ambitions, and the Kingdom has unique capability, creating numerous investment opportunities for both countries in terms of supply chain products as well as project development.鈥� 

抖阴短视频鈥檚 demand for agricultural and food processing products is expected to reach over $130 billion by 2030, with a compound annual growth rate of 7.5 percent.  

Meanwhile, Thailand鈥檚 agricultural and food processing sectors were robust in 2022, with exports totaling $45 billion. 

鈥淭his presents a huge area of complementary that would boost trade and investment as well as enhance food security in both nations,鈥� Al-Falih underscored. 

Moreover, during the event鈥檚 opening speech, Thailand鈥檚 Minister of Foreign Affairs, Maris Sangiampongsa, underscored the robust private sector collaboration between both countries, noting the success of the International Mega Fair organized by the Thai Chamber of Commerce in 抖阴短视频. 

This event featured over 30 Thai businesses showcasing 1,000 products from 200 brands, significantly boosting Thailand鈥檚 presence in 抖阴短视频. 

Looking ahead, Sangiampongsa announced the upcoming International Mega Fair 2024 in Riyadh, scheduled for November. This event aims to promote trade across diverse sectors, such as construction materials, hospitality, and defense technology. 

The minister expressed confidence in Thai investment representatives鈥� readiness to strengthen cooperation with their Saudi counterparts, building on the momentum of past successes.  

鈥淎s both our nations are located strategically at the crossroads of continents, we recognize that connectivity and efficiency are part and parcel of any feasible development strategy,鈥� Sangiampongsa stated. 

He continued: 鈥淭hat is why, as part of our plan, Thailand launched our flagship Landbridge Project, which will connect the Gulf of Thailand with the Andaman Sea and the Indian Ocean. This bold initiative will reduce commuting time and costs by 15 percent.鈥� 

The forum saw the signing of 11 memoranda of understanding between Thai and Saudi companies, covering cooperation in areas including energy, infrastructure, engineering, agriculture, and forestation. 

The event also featured bilateral meetings and discussions between private sector representatives, which reviewed developments in the investment environment in 抖阴短视频 and Thailand. 

Additionally, Saudi Assistant Minister of Investment Ibrahim Al-Mubarak met with Therdsteerasukdi to discuss ways of cooperation and developments in the work of the Saudi-Thai Coordination Council. 

Further, a meeting was held between Saad Al-Khalb, CEO of Saudi EXIM, and Senior Executive Vice President of Export-Import Bank of Thailand Benjarong Suwankiri, discussing areas of cooperation aimed at enabling promising investment opportunities. 

In 2023, Thailand鈥檚 applications for investment promotion surged to a nine-year peak of 848.3 billion baht (approximately $24 billion), marking a 43 percent increase from the previous year. 

This growth was driven by significant foreign direct investments primarily in five key sectors outlined in the BOI鈥檚 new Investment Promotion Strategy: green industries, automotive (including electric vehicles), and semiconductors. Additionally, investments in advanced electronics, digital and creative industries, and international business centers contributed significantly.  

These sectors accounted for more than half of the total investment pledges. Leading sources of investment included China, Japan, Singapore, and the US.