BANGKOK, March 29 – Japan fully advocates Thailand’s vision to become the hub of the ASEAN
Economic Community (AEC) given the country’s capability as a business
springboard for the Mekong region, according to the Japanese ambassador to
Bangkok.
Shigekazu Sato also urged Thailand to support Japanese
investment in the kingdom and create additional mechanisms to enhance bilateral
trade and cooperation.
Speaking Thursday he said that Thailand should find
additional measures, besides the Japan-Thailand Economic Partnership Agreement
(JTEPA), to encourage more Japanese investment in the country. JTEPA is a
free-trade agreement between the two countries.
Mr Sato said Japanese auto investment in Thailand
represents 90 per cent of the total auto industry with an investment value of
15 per cent. There are 1,400 Japanese companies and 50,000 citizens in
Thailand.
Industry Minister Prasert Bunchaisuk, speaking at the
seminar entitled “Thailand Upparalleled Opportunities,” said among the 1,584
foreign direct investment (FDI) projects which have a combined value of Bt647
billion, 872 projects are operated by the Japanese private sector with a total
investment value of Bt373.985 billion or 57.7 per cent of the total FDI.
The Thai Board of Investment (BoI) has targeted
applications for investment privileges at a total value of Bt600 billion this
year and half of them will be foreign investments, he said.
BoI Secretary General Udom Wongviwatchai said Thailand
will give more emphasis on new industries concerning the country's education
base, innovation, alternative energy, medical equipment and logistics.
He said the Industry Ministry plans to build eight
industrial estates for small- and medium enterprises in Thailand’s Northeast,
the North, Central and Southern regions.
The seminar on Thursday was jointly organised by the
BoI and Japan's Nikkei Business magazine and was attended by more than 200
Japanese businessmen in Thailand.
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