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Biggest-ever Chinese Investment Project in Thailand Breaks Ground
Worldbest Industrial City, the biggest-ever Chinese investment project in Thailand, broke ground Monday in Rojana Industrial Park of Rayong Province, 222 kilometers southeast of Bangkok.
Yan Ting-ai, Chinese ambassador to Thailand, told a stone-lying ceremony in a virgin land that the project signaled that the China-Thailand economic cooperation entered a new era.
"I had attended the signing ceremony of the project between China's Worldbest Group and Thailand's Rojana Industrial Company on August 28 in Beijing, which was also witnessed by Chinese Premier Zhu Rongji and visiting Thai Prime Minister Thaksin Shinawatra," he recalled.
He noted that the traditional stable cooperation between the two countries and the favorable investment environment were the two major reasons behind the launching of the project, which was worth over 100 million U.S. dollars.
Zhou Yucheng, president of the Worldbest Group, said the first phase of the Worldbest Industrial City project would include the construction of a spinning factory, a textile printing factory and a citric acid lab.
The Worldbest Group is the fourth-largest business conglomerate in Shanghai, with an annual revenue of 2 billion dollars.
Zhou said his group would invest more in Thailand in the future and make the country its production hub in Southeast Asia.
Baphan Chonlaviwong, the local provincial governor, said the Chinese investment, which came in a time when Thailand was facing economic troubles, would help the country to boost its economy.
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