Chinese e-commerce giant Alibaba sets plans for Thailand

By: The Associated Press

Thursday, April 19, 2018 4:05 AM

BANGKOK (AP) The Chinese e-commerce giant Alibaba has agreed to step up investments in Thailand.

The founder of the online shopping giant, Jack Ma, met with Thailand's prime minister, Prayuth Chan-ocha, on Thursday and signed an agreement to help set up a "smart digital hub" to facilitate trade between Thailand, China, Laos, Myanmar, Cambodia and Vietnam.

Reports said the hub, due to be completed next year, would also serve as a research and development center for Alibaba.

The government said Alibaba also plans to help train Thai entrepreneurs and small businesses in e-commerce and to set up an online tourism platform.

The announcements included no dollar figures. Thai media reported that Alibaba plans to invest 11 billion Thai baht ($350 million) in a showcase government project called the Eastern Economic Corridor.

Chinese e-commerce giant Alibaba sets plans for Thailand

Founder and chairman of Alibaba Jack Ma arrives for signing the memorandums of understanding linked to the investment in Thailand, during a press conference Bangkok, Thailand, Thursday, April 19, 2018. (AP Photo/Sakchai Lalit)

The Associated Press

Jack Ma, founder of Chinese e-commerce giant Alibaba, gestures as he arrives for a meeting with Thailand's Prime Minister Prayuth Chan-ocha in Bangkok, Thailand Thursday, April 19, 2018 during a visit to the country to announce the group's investment in the Thai government's Eastern Economic Corridor (EEC) scheme. (Jorge Silva/Pool Photo via AP)

The Associated Press

Jack Ma, founder of Chinese e-commerce giant Alibaba, meets Thailand's Deputy Prime Minister Somkid Jatusripitak in Bangkok, Thailand Thursday, April 19, 2018 during a visit to the country to announce the group's investment in the Thai government's Eastern Economic Corridor (EEC) scheme. (Jorge Silva/Pool Photo via AP)

The Associated Press

Jack Ma, front left, founder of Chinese e-commerce giant Alibaba, shakes hands with Thailand's Prime Minister Prayuth Chan-ocha in Bangkok, Thailand Thursday, April 19, 2018 during a visit to the country to announce the group's investment in the Thai government's Eastern Economic Corridor (EEC) scheme. (Jorge Silva/Pool Photo via AP)

The Associated Press

Jack Ma, founder of Chinese e-commerce giant Alibaba, gestures during a visit to announce the group's investment in the Thai government's Eastern Economic Corridor (EEC) scheme, in Bangkok, Thailand Thursday, April 19, 2018. (Jorge Silva/Pool Photo via AP)

The Associated Press

Founder and chairman of Alibaba Jack Ma delivers a speech before signing four memorandums of understanding linked to the investment in the country during a press conference Bangkok, Thailand, Thursday, April 19, 2018. (AP Photo/Sakchai Lalit)

The Associated Press

Thailand Deputy Prime Minister Somkid Jatusripitak, left, shakes hands with founder and chairman of Alibaba Jack Ma after signing the memorandums of understanding linked to the investment in Thailand during a press conference Bangkok, Thailand, Thursday, April 19, 2018. (AP Photo/Sakchai Lalit)

The Associated Press