Hangzhou Weiguang set foot in Thailand to deepen overseas capacity production cooperation

Photo provided to Xinhua shows groundbreaking ceremony of Hangzhou Weiguang Electronic in Thai-Chinese Rayong Industrial Zone

BEIJING, March 16 (Xinhua) -- Hangzhou Weiguang Electronic Co.,Ltd. has recently inaugurated the construction of its new plant in Thai-Chinese Rayong Industrial Zone in Thailand, marking a step forward of in-depth production capacity cooperation between China and Southeast Asia.

According to Hangzhou Weiguang Thailand branch, the project covers an area of 78.36 mu(about 5.224 hectares), with planned investment of 25 million U.S. dollars. The plant is designed with annual output of 8 million motors and fans. When completed, it will provide 700 local jobs in Thailand and create 100 million U.S. dollars in sales revenue.

Headquartered in Linping District in Hangzhou City in east China's Zhejiang Province, Hangzhou Weiguang Electronic is engaged in research and development, production and sales of motors, fans, micro motors, robots and automation equipment, etc.The company went public on the Shenzhen Stock Exchange in 2016. Currently, the enterprise is taking a leading position in terms of sales volume of freezer motors, external rotor fans and ECM motors in domestic market, and the its products have been exported to more than 70 countries and regions.

Photo provided to Xinhua shows delegation from Linping District inspecting construction of Linping enterprises investing in factories in Thailand

There are seven enterprises from Linping District of east China' Zhejiang Provinve that have settled down in Rayong Province of Thailand, all of which are production-oriented enterprises, with a total investment of nearly 200 million U.S. dollars.

Chen Rugen, secretary of the Linping District Party Committee, said that the Linping enterprises in Thailand will provide confidence and experience for other enterprises in Linping to embrace overseas markets, and become a bridge, establishing a valuable link between Linping and international technology, capital, talents and other resources.

It is learned the delegation from Linping District also exchanged views with Thailand Board of Investment(BOI) and introduced the investment environment in Linping District, and inspected Linping enterprises in Rayong Province.

(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)