An information-providing platform is urgently needed for Chinese and Thai enterprises to understand each other's demand and supply so that they can cooperate in the most effective way, a Chinese entrepreneur told Xinhua.

There are great prospects ahead for Sino-Thai economic cooperation and Chinese enterprises investing in Thailand, but an existing information gap has prevented enterprises in both countries from fully learning the demands, resources and strengths of each other, said Xu Genluo, president of the Thai-Chinese Rayong Industrial Zone, which is located in east Thailand's Rayong province. 

Enterprises from both sides wish to have a platform that provides dynamic and comprehensive information regarding economic statistics, policies and regulations, investment environment, market demand, and projects of China and Thailand, according to the head of the industrial zone, which now houses more than 60 Chinese enterprises.

The platform is expected to serve as an information bridge that can effectively partner Chinese and Thai enterprises precisely based on their respective demand and supply, he added.

For instance, Xu said, as a tropical state, Thailand is a major grower and exporter of rice, cassava, rubber and fruit, while China happens to be a major importer of these agricultural products.

Currently, the Thai government attaches great importance to using advanced technologies to process and preserve meat, fruit, vegetables and food crops, and produce fruit beverage.

Both the Thai government and enterprises want to learn more about China's market conditions in relation to the above-mentioned products, in hopes of expanding cooperation with Chinese enterprises and increasing their share of the Chinese market, Xu noted. Meanwhile, as ASEAN's largest producer of automobiles, Thailand aims to further strengthen its automobile industry.

However, Thai enterprises have not got the know-how to manufacture sedan engines, transmissions and electronic control units, where Chinese enterprises enjoy advantages, Xu said.

But both sides need to have enough information to detect investment opportunities in such industries and make cooperation possible, he stressed. 

In addition, the Thai government is encouraging foreign investment in projects related to high and new technologies, human resources, public and infrastructure facilities, pollution prevention and environmental protection, according to Xu.

With advantages in many of these projects, Chinese enterprises wish to be better informed of Thailand's preferential policies, tax incentives, legal system, labor cost and other related issues before investing, he said.

Source:China Daily