TCP Group Poses at China-ASEAN Expo -- Guangxi Red Bull Production Base with an Investment of RMB 1.3 Billion Drives High-quality Development of Regional Economic Integration
The 20th China-ASEAN Expo (CAEXPO) kicked off in Nanning on September 16, 2023. As China-ASEAN strategic partnership embraces the 20th anniversary, CAEXPO has become a significant platform for fostering opening-up and collaboration between China and ASEAN. Not only it plays a constructive role in facilitating regional economic integration, but it also acts as a bridge between China and ASEAN countries to advance broader economic and trade cooperation across more areas and in greater depth. TCP Group, as a representative of Thai enterprises that invest in China, is invited to participate in the "Invest in China Year", a special CAEXPO event co-hosted by the Ministry of Commerce of the People's Republic of China and the People's Government of Guangxi Zhuang Autonomous Region. By participating in the event, TCP Group hopes to leverage the international platform provided by CAEXPO to expand in both Chinese and ASEAN markets and consolidate Red Bull's business in China.
TCP Group contributes more to high-quality development of regional economic integration as the China-ASEAN strategic partnership thrives
This year marks the 20th anniversary of the strategic partnership between China and ASEAN and the 10th anniversary of President Xi Jinping's proposal to develop an ever closer China-ASEAN community of common destiny and co-build the Belt and Road Initiative. Now, the multifaceted cooperation between China and ASEAN is gaining momentum. As a crucial platform for opening-up between China and ASEAN, CAEXPO has strengthened cooperation between enterprises from both sides, contributed to an ever closer China-ASEAN community of common destiny, and provided a significant platform for foreign enterprises like TCP Group to get deeply integrated into the Chinese market and share China's development opportunities.
Video speech by Saravoot Yoovidhya, CEO of TCP Group
Saravoot Yoovidhya, CEO of TCP Group, said: "Following the full entry into force of the RCEP in June this year, the conjunction of various policy incentives and dividends has injected strong momentum into the China-ASEAN strategic partnership. Additionally, as Nanning is designated as the permanent host city of CAEXPO, the 'Nanning Channel' has been established, bringing us excellent development opportunities. As both a member of ASEAN and a major participant in the Belt and Road Initiative, Thailand has seen many of its enterprises invest in China and TCP Group is a representative one. So far, Red Bull has entered the Chinese market for 30 years. In the future, TCP Group expects to seize the opportunities presented by CAEXPO to consolidate and expand Red Bull's business in China, thereby promoting the high-quality development of regional economic integration."
TCP Group invests RMB 1.3 billion in the Red Bull production base project in Guangxi as China-ASEAN opening-up and cooperation deepen
As the China-ASEAN strategic partnership thrives, recent years have witnessed closer Guangxi-Thailand cooperation, putting Guangxi in a better position to serve as a crucial channel for bilateral trade and cultural exchanges. As the core region of China facing ASEAN, Guangxi plays a significant role in opening-up and collaborating with ASEAN countries. In July 2023, TCP Group's Red Bull Beverage production base project in the Guangxi-ASEAN Economic and Technological Development Zone broke ground officially. With a total investment of RMB 1.3 billion, this project speaks volumes about TCP Group's further commitment to China. Covering an area of 250 mu and a total construction area of about 90,000 square meters, the production base will be equipped with four high-speed, full-automatic production lines and designed and built up to the Industry 4.0 smart factory standards. Adhering to TCP Group's sustainable development concept, the production base integrates production, storage, and comprehensive resource utilization and aims to establish a green and intelligent production and operation system.
TCP Group Red Bull Beverage Production Base in the Guangxi-ASEAN Economic and Technological Development Zone
According to Supachai Junkeiat, President of TCP China, "TCP Group, as the inventor and owner of the global Red Bull brand and the 'Red Bull' trademark, has been expanding in China through continuous innovation and localization. The factory invested by us in Guangxi will serve as our significant production base in China. Going forward, while taking advantage of Guangxi's unique geographical and policy advantages, we will give better play to our proven track record in the food and beverage industry and the strong brand influence of Red Bull to contribute to sustainable economic growth and high-quality development of the region."
