Countries Plans: Thailand and Bangkok-Based Source

countries plans: The measures include tax incentives, special investment zones for individual countries and plans to change the foreign business law to facilitate foreign investment, the Bangkok Post reported on Friday, according to Global Times China. Thailand's feeble economic growth is a major reason behind the move, a Bangkok-based source familiar with the matter, who wished to remain anonymous, told the Global Times on Monday. Thailand reportedly approved a manufacturing transfer plan recently to attract foreign companies looking to relocate production bases as the China-US trade war keeps escalating. The Thailand authorities have been striving to reach 3 percent growth in GDP, but industrial and commercial players are not that optimistic about it, the source said, adding that more economic stimulus plans are needed. There have been a number of Chinese manufacturers moving to Thailand since the China-US trade war broke out, and the number will be growing after Thailand's measures are implemented, he said. He noted that the newly approved manufacturing relocation plan would be mutually beneficial for Thailand's economic growth and Chinese manufacturers. (news.financializer.com). As reported in the news.