Thailand's CP Group to invest 10b yuan in island

As China's Hainan province is set to officially commence its special Customs operations on Dec 18, officials and experts see more potential for economic cooperation between the tropical island and countries from the Association of Southeast Asian Nations.

Kajtiti Wiwatwanont, consul-general of Thailand in Guangzhou, said the past 50 years have already shown how close China and Thailand are, and the next 50 years will be even more important.

"We need to find new opportunities for economic cooperation, like Hainan which already started the Free Trade Port policy. This is a new opportunity for Thai entrepreneurs to invest and trade more in Hainan," Wiwatwanont said.

He said food processing, agriculture and services have big potential for more cooperation in the future.

READ MORE: Hainan readies for role as free trade flag bearer

Thailand's Charoen Pokphand Group plans to invest 10 billion yuan ($1.4 billion) in Qiongshan, Hainan, to establish an industrial park and a project covering primary, secondary and tertiary industries — including pig farming, tropical high-quality fruit cultivation, corn growing and food processing of agricultural products such as Hainan pork products.

Waewdao Anusatit Diart, director of the Tourism Authority of Thailand Guangzhou Office, said the much-expected special Customs operations of Hainan will drive the upgrading and development of its tourism sector, attracting more related enterprises and investment to the province.

This will provide more cooperation opportunities for Thai tourism businesses. The two sides can engage in deeper collaboration in areas such as tourism itinerary planning, tourism product innovation and tourism services, she said.

Kim Jun-cheol, operations team officer of the Mureung Strategy Division of Donghae City Hall from the Republic of Korea, said: "Key policies such as tariff-free, low tax rates and tax simplification at Hainan Free Trade Port are a symbol of the Chinese government's willingness to further open up to the outside world. In addition, low corporate income tax rates of 15 percent and the duty-free shopping limit policy of 100,000 yuan per year for each traveler will achieve significant results in tourism, services and high-tech manufacturing."

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The comments came as The Dialogue between Haikou and Consulates-General of ASEAN Countries in Guangzhou 2025 concluded successfully on Friday. The event, now in its 17th edition, has become a flagship platform for Haikou's international exchanges and a stable communication bridge connecting the city with ASEAN diplomatic missions in China.

The dialogue featured in-depth discussions on the Hainan Free Trade Port's policy advantages, development prospects, industrial planning and investment opportunities.

Chi Fulin, president of the China Institute for Reform and Development, said China and ASEAN are projected to be the primary engines of Asian economic growth. To realize this vision, Chi proposed integrating Hainan's policies with the Regional Comprehensive Economic Partnership, effectively creating a synergistic overlay that could see zero-tariff coverage expand.

Contact the writers at masi@chinadaily.com.cn