Photo Cr. Thai Koo Fah
BANGKOK, Oct 17 (TNA) – Thai Prime Minister and Finance Minister Srettha Thavisin convinced Xiaomi executives to expand market and Investment in Thailand, expressing confidence in the kingdom’s business potential benefitting all parties.
The Thai prime minister is attending the third Belt and Road Forum for International Cooperation (BRF) in China.
At 13:00 local time in Beijing (one hour ahead of Thailand), Mr. Alain Lam, Vice President and CFO of Xiaomi met Mr. Srettha, according to government spokesman Chai Wacharonke.
Xiaomi, a pioneering electronics manufacturer renowned for its diverse digital product offerings, particularly Android-based mobile phones, initiated its operations in Thailand back in 2018. Since then, the company has consistently thrived, with Thailand serving as its regional headquarters in Southeast Asia. Xiaomi has been actively engaged in supporting Thailand in various ways, including during the COVID-19 pandemic and through educational initiatives.
To cater to the Thai market, Xiaomi established Xiaomi Technology (Thailand) Co., Ltd. This subsidiary is responsible for distributing and marketing mobile phones in the region, with a continued focus on expanding its presence in Southeast Asia, where Indonesia ranks as its largest market, closely followed by Thailand.
The Thai Prime Minister expressed his gratitude to Xiaomi for their involvement in the Research and Development of the land bridge project, which connects Chumphon province on Thailand’s eastern coast to Ranong province along the Andaman Sea. This project presents a valuable opportunity for both parties to collaborate within the framework of the Belt and Road Initiative (BRI).
Xiaomi is currently exploring potential locations for establishing manufacturing or production facilities to bolster its growth across various sectors, including electric vehicles (EVs).
Srettha Thavisin underscored his confidence in Thailand’s potential to emerge as a regional hub for EV production due to its favorable conditions and supportive environment. Thailand stands as the first country to implement carbon credit measures on both the supply and demand sides, an attractive factor drawing interest from several manufacturers to set up EV production plants in the country.
Xiaomi warmly welcomed the opportunity to enhance the production of various electronic components within Thailand. This endeavor is expected to contribute to the growth of the country’s manufacturing capabilities and address labor skill shortages through targeted training programs. (TNA)
