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24 Oct 2019, Edition - 1563, Thursday

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Coimbatore

Thailand beckons investors; MoUs signed with Codissia, Indian chamber

Covai Post Network

Coimbatore : The Indo-Thai Camber of Commerce (ITCC) today invited entrepreneurs and industrialists from the region to invest in Thailand, particularly in the industrial and education sectors.

Thailand being second largest exporters of food, computer peripherals and also automotives, had vast opportunities for industries from Coimbatore region to invest, ITCC president S S Phool told reporters here on the sidelines of signing MoUs with two major trade and industrial bodies.

ITCC was looking at widening its network with ASEAN and BRIC countries in the near future and Indian investors would have greater opportunities in Thailand, he said.

Group CEO of Safaff Global D Devadas, also former secretary general of ITCC, said Thailand was interested in leasing out three universities to Indian investors, particularly educationists, so that more Indian students, who go to China and Russia for higher education, could come and study there.

These universities could be converted to medical or engineering ones to attract more students. There would be a three-year tax holiday and the universities would have international faculty, he added.

Indian industries supplying automobile components and products to various countries for four-wheelers could also export to Thailand, he said.

MoUs were signed between local chapter of Indian Chamber of Commerce and Industry and Coimbatore District Small Industries Association (Codissia) to develop strong institutional trade and business relations and maintain a sustainable mechanism of dialogue and platform for discussions, Chamber president Vanitha Mohan said.

The MoUs, among other things, would help exchange of information and general economic status, taxation, investment, opportunities, trade policies to strengthen trade and technological and industrial collaboration between Thailand and India, Codissia president R Ramamurthy said.

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