Thai companies are turning their attention to Saudi Arabia's Qassim region, drawn by its strong investment appeal and strategic location connecting Riyadh, Madinah, and Hail, according to Thai Ambassador Dam Bontam.
Speaking to Al Eqtisadiah, Bontam added that Qassim's economic potential is reinforced by its status as home to the Middle East's only bauxite mine, with reserves estimated at 183.4 million metric tons. The region also produces 1.22 million tons of agricultural products annually.
By 2025, Thailand and the Gulf Cooperation Council (GCC) are working toward a potential free trade agreement to boost trade and investment.
Five major Thai companies are already active in Saudi Arabia. SCG International Arabia Ltd. recently opened a Riyadh office. Ameenah, specializing in oud products, and Fortune Parts Industry Public Co. have also expanded their presence. Fortune Parts has partnered with Fuel Automotive Parts Ltd. to develop electric vehicle components for brands like Ceer and Lucid.
Other investors include Albee Southeast Asia Ltd., offering engineering services, and Vega Trading & Exhibitions, focusing on trade shows and marketing.
In May 2024, over 100 Saudi companies visited Thailand to explore investment opportunities, reflecting strengthening economic ties.
Saudi investments in Thailand include PC Tuna Co. Ltd., focused on seafood production, and SHPP (Thailand) Co. Ltd., specializing in composite plastics. Saudi investors have also backed Four Seasons Hotels in Thailand and Accor Group properties, totaling 83 hotels with 20 more in development.
Trade between the two nations reached $8.8 billion in 2024, with Thai exports valued at $2.8 billion and Saudi oil exports driving the remaining trade balance.
