Zhejiang's Economic and Trade Forum Focuses on Enterprises Going Global to Southeast Asia

On March 18, the "Zhejiang Enterprises Going Global" China (Zhejiang) - Indonesia, Thailand Economic and Trade Forum, hosted by China Council for the Promotion of International Trade Zhejiang Provincial Committee (CCPIT Zhejiang) and organized by China Chamber of International Commerce Zhejiang Chamber of Commerce (CCIOC Zhejiang), was held in Hangzhou. At the forum, representatives of enterprises discussed the challenges and opportunities faced by enterprises when going global.

During the business environment promotion section, Berlianto Situngkir, Consul-General of Indonesia in Shanghai and Donlaporn Ajavavarakula, Director of Thailand Board of Investment (BOI) Shanghai Office, respectively introduced the the business environment, relevant services,  investment incentives of the two countries.

Among them, the preferential policies introduced by the Thailand Board of Investment (BOI) are particularly eye-catching. From corporate income tax exemptions and reductions and import equipment tariff exemptions to allowing foreign investors to own land, it provides strong support for enterprises in high-tech, new energy, digital economy and other fields. For instance, BOI can provide a maximum of 8 years of full corporate income tax exemption for eligible projects, which can also be combined with a policy that halves the tax for five years.

Why are Indonesia and Thailand preferred investment destinations for enterprises expanding into Southeast Asia? During the panel discussion, leading Zhejiang enterprises shared their success stories in going global. Wang Xianning, Deputy General Manager of Zhongce Rubber Group Co., Ltd., said that in recent years, the trend of enterprises expanding abroad together has gained momentum, which is increasingly beneficial to the global layout of Zhejiang enterprises. You Jia, Director of Overseas Business of Boduo Holdings Group, said that currently the company is strategically expanding its raw material and supply chain operations to seize market opportunities. Chen Ying, Vice President of Huayou Holdings Group, said that the company has consolidated the resource foundation of the integrated industrial structure by developing the nickel industry sector in Indonesia.

Chen Jianzhong, Chairman of the China Council for the Promotion of International

Trade Zhejiang Provincial Committee and China Chamber of International Commerce Zhejiang Chamber of Commerce, said that taking this forum as an opportunity, CCPIT Zhejiang and CCOIC Zhejiang will continuously carry out the "Zhejiang Enterprises Going Global" trade and investment promotion special action, mobilizing the combined efforts of the government society and market to provide comprehensive services for enterprises expanding globally, and continuously fostering a high-level open economy and strengthening Zhejiang’s position as an open and globally competitive province.