Australian businesses on a mission to deepen investment in Thailand and Laos
8 October 2024
Australia’s Special Envoy for Southeast Asia Nicholas Moore AO, Linfox International Group Executive Chairman Peter Fox AM and AgCoTech Executive Chairman Charles ‘Chick’ Olsson will lead an investment delegation of 10 Australian businesses to Thailand and Laos from 8-11 October 2024.
Mr Fox and Mr Olsson were announced as Australia’s Business Champions for Thailand and Laos respectively, at the 2024 ASEAN-Australia Special Summit in March. They will advocate for greater commercial links between Australia and the region. Export Finance Australia CEO John Hopkins and Austrade CEO Xavier Simonet will also join the delegation.
The visit will highlight Thailand as a key investment destination for Australian business, ranging from SMEs to multinationals, and across sectors including manufacturing, logistics, agribusiness and resources. The companies participating include: AgCoTech, ANZ, Blackmores, CCL Secure, Eudaemon Technologies, Fibre King, Linfox, Matsa Resources, SunRice and TomKat Global Solutions.
“Linfox has been proudly operating our family business in Thailand for over 30 years,” Mr Fox said.
“Thailand is our single largest operation in Southeast Asia. There is enormous untapped potential for Australian businesses throughout this region. Australian companies need to be working collaboratively across business enterprises to build upon the win-win opportunities here.”
Australian Ambassador to Thailand Dr Angela Macdonald PSM welcomed the delegation’s visit, only weeks after Australia’s Assistant Minister for Trade Senator Tim Ayres and Thai Deputy Commerce Minister Suchart Chomklin co-chaired the inaugural Thailand-Australia Strategic Economic Dialogue.
“Australia and Thailand hit a record trade high last year of A$30.8 billion,” Ambassador Macdonald said.
“Australian businesses are looking to build on that, by investing here in Thailand. The delegates will meet senior government representatives, local partners financial institutions and successful Australian businesses already in Thailand to learn more about the investment landscape and shared opportunities.”
It has been one year since Australian Prime Minister Anthony Albanese launched Invested: Australia’s Southeast Asia Economic Strategy to 2040, a report by Nicholas Moore. The strategy identified agriculture and food, education, digital economy and green energy transition as key sectors for mutual growth between Australia and Thailand.
Mr Moore said there’s been solid progress in implementing the strategy, which includes establishing the $2 billion Southeast Asia Investment Financing Facility and deploying Deal Teams – to identify, develop and facilitate investment in commercial projects – across the region, including in Thailand.
“Australia’s economic partnership with Thailand is important and growing,” he said.
“The Thai Government’s economic priorities align with Australia’s, and we could see the links from last week’s Australian business mission on green economy, and a digital economy-focused business mission in August.
“Long-term economic growth contributes to our region’s prosperity and security, and I’m pleased this mission is another step towards that.”
For more information on Australia’s Southeast Asia Investment Deals Teams, visit the Austrade website.
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