Alibaba set to invest more in Thailand
Print Edition
ALIBABA has agreed to step up investments in Thailand as competition between online retailers heats up in fast-growing Southeast Asia.
The founder of the online shopping giant, Jack Ma, met with Thailand’s prime minister, Prayuth Chan-ocha, yesterday and later signed several agreements, including one to help set up a “smart digital hub” in a showcase project called the Eastern Economic Corridor, to facilitate trade between Thailand, China, Laos, Myanmar, Cambodia and Vietnam.
Prayuth said the amount of investment involved would be determined later. Earlier, Thai media reported that Alibaba plans to invest 11 billion Thai baht (US$350 million) in the Eastern Economic Corridor.
Reports said the hub, due to be completed next year, would also serve as a research and development center for Alibaba.
Prayuth, who as army commander led a 2014 coup, said he asked Ma to help Thailand to boost exports of rice, palm oil and rubber and to help the country’s low-income and farm workers.
Ma told Prayuth that Alibaba could help develop logistics systems to speed up delivery of farm products, he said.
The government said Alibaba also plans to help train Thai entrepreneurs and small businesses in e-commerce.
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