TCP Group attends the International Investment Promotion Seminar

Mr. Supachai Junkeiat, the President of TCP China, was invited to attend and deliver a speech by video at the 20^th National Joint Conference of Investment Promotion Agencies and the International Investment Promotion Seminar, hosted by the China Council for International Investment Promotion. As one of the key seminars held during the 2022 China International Fair for Investment and Trade, the theme of this year’s conference is "seizing favorable policies and promoting economic development." As a representative of multinational companies, TCP Group shared insights about its business practices and plans to take advantage of new policies and expand its business in China with leaders and industry experts from the Ministry of Commerce, the Xiamen Municipal People’s Government, the China Council for International Investment Promotion, and other government entities and organizations.

According to China 14^th Five-year Plan and Outline of Long-term Goals for 2035, the food and beverage industry will continue to expand its supply chain and establish a high value and competitive industrial cluster. As an important part of the beverage industry, the Chinese energy drink market has been developing rapidly. In his speech, Mr. Supachai Junkeiat, the President of TCP China, said: "The huge market potential of the energy drinks industry of China and the demands of Chinese consumers for high-quality and diversified products are driving continuous innovation and rapid iteration of the energy drinks industry. This will provide more opportunities for TCP Group and other multinational companies. As one of the top food and beverage companies of Thailand, TCP Group has been specializing in the energy drink industry for decades. In addition to classic Red Bull products, TCP Group also has a range of other mature products and strong levels of market recognition in every segment. TCP Group is highly optimistic about the Chinese market and looks forward to further diversifying and leading the way for the Chinese energy drinks market to fulfill the fast-evolving consumption needs of local consumers. "

In March, TCP Group invested 2 billion RMB in Sichuan province to build Red Bull Drink (Sichuan) Production Base. This is the second Red Bull factory directly invested by TCP Group in China, marking a significant expansion of TCP Group’s investment in China. It is also one of the important steps being taken by TCP Group to achieve highly localized production in the country and continue to fulfill the diversified and rapidly evolving needs of Chinese consumers. Discussing the future business strategies of TCP Group in China, Mr. Supachai Junkeiat said that China has steadfastly promoted a high level of opening up in recent years, providing more development opportunities for foreign investors in China. As a result, many companies, including TCP Group, are increasingly confident and determined to invest in China.

In addition, this year marks the 10^th anniversary of the establishment of the Sino-Thai Comprehensive Strategic Cooperative Partnership. The official entry into force of the Regional Comprehensive Economic Partnership (RCEP) at the beginning of 2022 has provided a further boost to the development of the comprehensive strategic partnership between China and Thailand. With the implementation of the RCEP, TCP Group, as a representative of Thai investors in China and an outstanding enterprise in the energy drinks industry, is more confident than ever about its ability to bring more high-quality products to Chinese consumers and how the new multilateral trade accord will add continuous momentum behind the region’s economic recovery and deeper economic integration.

With Red Bull having already been in China for 29 years, TCP Group is devoted to staying committed to the Chinese market and continuing to forge ahead. Going forward, TCP Group will continue to take advantage of favorable policies through innovation and localization strategies, further expand its investment in China against the backdrop of the rapid growth of the energy drinks market and bring more high-quality products to Chinese consumers. Moreover, TCP Group is also committed to driving innovative business models in the upstream and downstream parts of the industry and promoting sustainable development throughout the whole supply chain, making long-lasting contributions to China’s economic and social development. In the future, TCP is dedicated to working closely with even more Chinese partners to energize a better world for all.