Thai delegation visits Taiwan for joint economic meeting, summit and Taipei Food Show

Thailand saw an 920% increase in investment from Taiwan last year, according to CIECA.

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Bangkok night view (Image courtesy of Benh Lieu Song/ Wikipedia)

Bangkok night view (Image courtesy of Benh Lieu Song/ Wikipedia)

TAIPEI (Taiwan News) - A Thailand delegation comprised of 27 senior Thai investment advisers, business leaders and experts arrived in Taipei this week, joining a fruitful joint economic cooperation meeting with a Taiwan government-sponsored business organization that promotes trade and investment.

In a joint economic cooperation meeting held earlier this week, participants exchanged thoughts and experiences over issues like; developing smart cities, smart manufacturing, and the Internet of Things (IoT), which are currently hot topics, with large investments being made by many Taiwanese companies related to these areas.

Managers of the most successful companies in building smart cities, smart factories, and developing IoT were invited to give speeches during the meeting. These companies are Mitac Computer Co., Hiwin Technologies, and TECO Electric & Machinery Co.

After the meeting, the team attended Taiwan-Thailand Industrial Collaborations Summit, and visited several high-tech companies.

During their stay in Taiwan, the delegation also visited the Taipei Food Show. FOOD Taipei is a super trade show, comprising four trade events occurring simultaneously, including "Foodtech & Pharmatech Taipei", "Taipei Pack", "Taiwan HORECA" and "Halal Taiwan."

The Thai delegation members include Seksan Ruangwohan, Acting Senior Executive Investment Advisor of Thailand's Board of Investment (BOI), Kriengkrai Thiennukul, Chairman of Thai-Taiwan Economic Cooperation Committee (TTECC), Aim-orn Imcharoen, Manager of Science Park Strategy and Collaboration Section under the National Science and Technology Development Agency, and Chayo Trangadisaikul, Managing Director of Bangkok Metropolis Motor Co., Ltd. among others.

The Chinese International Economic Cooperation Association (CIECA), which co-hosted the joint meeting, said that Thailand is a relatively business friendly country, whose corporate income tax rate is 20%, the second lowest among ASEAN nations. The Thai government also provides a variety of investment incentives for foreign companies in the field of cloud service, smart manufacturing, and other areas. The qualified foreign high-tech companies can enjoy tax exemption for five to eight years or import tariffs cuts.

Many Taiwanese companies have joined the Taiwan government's New Southbound Policy initiative to pour more investment into the ASEAN nation. This year the total amount of investment from Taiwan to Thailand skyrocketed by 920% over the previous year, said CIECA.