Prime Minister General Prayuth Chan-ocha, head of the Thai military junta and chief of the NCPO (National Council for Peace and Order), invited a group of Japanese businessmen to continue investing in Thailand. He assured them that the country’s reform process will be welcoming to foreign investment.
General Prayuth expressed this during a meeting with a delegation of corporate executives led by the chief executive officer of Nidec Corporation, Japan’s largest manufacturer of electric motors.
After the meeting concluded, Prayuth said that Nidec expects its investment in Thailand to continue smoothly, and that it is ready to support research and development in the country. In return, Prayuth promised to reduce barriers to investment, improve infrastructure, and provide further incentives for foreign investors.
“The NCPO is in the process of laying the foundation of a stable political environment that will support a favorable climate for future Japanese investment, businesses, technology transfer, labor-skills development, employment of more local managers, and local content for the mutual benefit of both countries in a sustainable manner for the long term” said General Prayuth.
Support for Foreign Firms Investing in Thailand
The prime minister has also encouraged Japanese businesses to establish regional offices in Thailand, while noting that the bilateral relationship between Thailand and Japan will be based on mutual respect and benefits.
Meanwhile, Colonel Sirichan Ngathong, deputy spokesman of the NCPO, said that the Thai premier expressed his thanks toward Japanese businesses for continuing to choose Thailand as an investment location and that the NCPO hopes Thailand and Japan will expand bilateral trade in the agricultural and industrial sectors even further.
Thailand’s new government has given priority to the development of the country’s Special Economic Zones (SEZs), many of which are located along borders, in order to facilitate trade and foreign investing in Thailand.
Despite saying they want more foreign investment, Thailand has recently dropped in the World Competitiveness Rankings. The country must step up its game to stand out among more attractive, less expensive neighbors such as Cambodia and Indonesia.
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