Alibaba Invests $352M in Thailand to Brace for Upcoming Competition with Tencent and JD.com

Jack Ma will meet Thai PM on Thursday.

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Alibaba Invests $352M in Thailand to Brace for Upcoming Competition with Tencent and JD.com

Alibaba is ramping up its presence in Thailand by backing the country’s Eastern Economic Corridor (EEC) initiative with 11b (around US$ 352m), according to the country’s Industry Ministry. With the EEC project, Thailand seeks to spur investment in the country’s economy. Alibaba has bought 300 rai of land in the EEC areas to build up a hub that functions as a logistics hub not just for Thailand, but also Cambodia, Laos, Myanmar and Vietnam. The hub will also double as it’s R&D unit and a training center for local SMEs to help them become more experienced in digital technology and integrate with the regional global value chain. The move came as Alibaba’s Chinese counterparts, such as Tencent and JD are also making moves to enter into Thailand’s e-commerce market.

Source: Bangkok Post