Despite concerns about the state policy consistency, the second-generation Chinese entrepreneurs are seeking to invest in Thailand. One such example is the Bestway Flow Control Technologies Co Ltd, a Shanghai-based petrochemical valve maker. Its general manager Mr. Ye said that stability, policy consistency and clarity are the primary factors in attracting foreign investment, irrelevant of who is in charge of the government. Adding to this he mentioned that a good number of industries will be soon entering in Thailand as the kingdom will be promoting and incentivizing EEC investment.
Mr. Ye will first study whether their business falls under an area that will be promoted. Also, they mentioned their targeted clients are from the petrochemical industry and power plants. Thailand being one of those Southeast Asian countries, where the majority of the foreign companies or investors take interest in, Mr. Ye’s company too is interested in using its own brand (Bestway), and establishing a factory to make its products. As far its manufacturing base is concerned, it is there in both Shanghai and Zhejiang.
So, what makes Thailand an interesting country for expansion? Mr. Ye believes that as Thailand has adopted Western cultural traits and that they could warmly welcome the foreigners has apparently attracted many foreign investments over years. Apart from Thailand, Indonesia is yet another country that is sniffing out some great investment opportunities.
I have been talking a lot about Mr. Ye. Who is he, actually, aside the manager of Bestway? He is a second-generation Chinese entrepreneur, whose father has set-up a petrochemical valve factory in the year 1979 and has eventually established the Bestway brand in the year 2009. According to the latest report, the company’s present production value totals to 1 billion yuan (4.91 billion baht) a year. In fact, every year the company exports 500 million yuan in goods, particularly to Europe and the US. Establishing himself as a second-generation entrepreneur, his “aim is to develop the company for another 40 years until it becomes a centenarian firm.”
Another second-generation entrepreneur is Stefanie Yang, senior investment manager, China Momentum Fund LLP of Chinese international conglomerate and private equity company Fosun Group. She said that there are many sectors in Thailand that provide attractive opportunities for Chinese investors in Thailand.
Additionally, the country offers numerous strong local designer brands for fashion and jewelry and now it is a good time for us to look into them. Ms. Yang said “We invest in every stage of business and can act as an incubator to help nurture and bring Thai talent and designers to the global stage. Thailand has a massive potential and the people have higher purchasing power. What we are looking for is a very strong local brand that has global potential and may still lack resources and capital. We want to come in and help them grow internationally.”
What does the Fosun investment ecosystem includes? Health, wealth and happiness! The company operates a twin-driver strategy, entailing investment in integrated finance like wealth management, internet finance, industrial operations, like health, happiness, steel and property development, and insurance.
Ms Yang says, “Our investment strategy is built around the family: what you want to buy is what we want to invest in.” She also mentioned, “Everything related to family consumption, from babies to parents to elders, is interesting for us.” She further added that the company is actively working for the development of “happiness industry”, which includes culture, fashion, entertainment, films, TV, health business, and tourism and culture. And they are actively looking for projects in Thailand as they believe that a stable political environment is crucial for a company’s growth.
