Bangkok: Four major Chinese technology companies have committed to investing a combined 70 billion baht ($2 billion) in Thailand this year, Thai Prime Minister and Interior Minister Anutin Charnvirakul said. Speaking during an official visit to China, Anutin stated that the investments would focus on precision technology, high-speed communications, and electric vehicles (EVs).

According to Thai News Agency, the planned expansion includes production lines for optical transceivers to support data centers, semiconductors, and microchips, alongside further investments in the EV sector. "Chinese investors in high-tech industries have high confidence in choosing Thailand as a production and innovation hub," Anutin said, adding that the move is driven by Thailand's infrastructure and the need to mitigate geopolitical risks by establishing manufacturing bases outside of China.

The investments are expected to create tens of thousands of jobs for Thai workers. Anutin added that the government is focusing on upskilling the domestic workforce through direct knowledge and technology transfers from the incoming firms. To facilitate the investments, the government is highlighting the Board of Investment's (BOI) "Thailand FastPass" initiative, a one-stop service aimed at streamlining the regulatory approval process.

Anutin noted that investors welcomed the transparency and efficiency of the system, which simplifies operations by routing procedures through a single agency. During the visit, which included stops in Chengdu and Beijing, Anutin met with dozens of Thai business owners operating in China's agriculture, food, energy, and hospitality sectors, who reported favorable business conditions from the Chinese government.

Anutin is scheduled to meet Chinese Premier Li Qiang on Monday to further discuss bilateral relations and economic cooperation.