Japanese corporations wooed to invest in Thailand
The Commerce Ministry invited members of the Japan Business Federation, also known as “Keidanren”, to invest in Thailand’s medical-equipment, railway, aircraft, innovation, and clean-energy industries, highlighting the kingdom’s suitability as manufacturing base under modern global trends.
Thai trade delegates led by Deputy PM and Commerce Minister Phumtham Wechayachai met with executives of Keidanren, led by Suzuki Jun, chair of Japan-Thailand Trade and Economic Committee at Imperial Hotel in Tokyo on Friday.
During the meeting, Phumtham underscored that Japan was Thailand’s third-largest trade partner last year, while accumulated investment amount from Japanese corporations made up for one-fourth of the kingdom’s total foreign investment, more than any other country.
He invited Japanese business leaders to invest in Thailand as well as visit the country to witness its potential. The Thai government has facilitated this by exempting visa requirements for Japanese businesspeople visiting Thailand for up to 30 days since January 1, he added.
Phumtham said Thailand possesses readiness to be a manufacturing and exporting bases for various industries, adding that the government has prepared and promoted Thai entrepreneurs for new global trends that focus on green business, sustainable manufacturing, low-carbon emission and the use of renewable energy.
He asked Keidanren to help facilitate about 800 Thai and Japanese companies in the automotive businesses based on internal combustion engine in transitioning to other industries, including medical equipment, railway, aircraft, as well as automation robotics.
Keidanren executives said Japan viewed Thailand as an important business base with long established history, while over 5,800 Japanese companies in manufacturing and service industries have expanded to Thailand, making the country one of Japan’s main supply chains.
Jun expressed hope to see even stronger trade and investment relationship between Japan and Thailand, as well as among other ASEAN countries in the future. He also invited the commerce minister to attend the 25th meeting of Japan-Thailand Trade and Economic Committee, scheduled for December in Tokyo.
Keidanren is considered a crucial organisation contributing to the Japan’s economy. Its members include 1,548 companies, 154 industrial associations, and 47 provincial economic organisations.
