Thailand - Thai bank offers tailored services for Chinese

BANGKOK -- Kasikorn bank, one of the main commercial banks in Thailand, announced on Wednesday its plan to offer comprehensive financial solutions for Chinese customers to support surging investment from the country.

The tailor-made services include Chinese-language forms and documents in some branches, establishment of Chinese-speaking call center as well as a number of Renminbi-based transaction services, which have been developed specifically to meet the needs of Chinese investors in Thailand, Pipit Aneaknithi, executive vice president of the bank told a press conference.

Thailand is a major investment destination for Chinese businesses, as their direct investment from 2005 to 2011 surged at an average annual growth rate of 25.36 percent, according to Pipit.

Chinese investors’ application for investment incentive in Thailand reached 28.5 billion baht ($904.8 million) in 2011, the second largest foreign applicants. Chinese investment in the country focuses on construction, wholesale- retail, transportation, financial services, property, machinery, rubber and chemical products.

The Kasikorn bank expects Chinese investment in Thailand to accelerate over the coming three years, thanks to China's overseas investment policy and the inception of the ASEAN Economic Community in 2015.

Xinhua

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