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 expand their investment in Thailand, and assured them that the country’s reform process will be welcoming to the facilitation of foreign investment.

General Prayuth expressed this during an August 28th meeting with a delegation of corporate executives led by Shigenobu Nagamori, the chief executive officer of Nidec Corporation which is Japan’s largest manufacturer of electric motors. Nagamori is an honorary advisor to Thailand’s Board of Investment (BOI) and a representative of local electronics manufacturers.

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.

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 investment among Thailand and its neighbors in preparation for the AEC (ASEAN Economic Community), which is set to come into effect in 2015.

 

About Nut Muengrit

Nut Muengrit has been doing business throughout Southeast Asia for many years and is on the board of directors of companies in Thailand, Vietnam, Hong Kong and Cambodia. He is knowledgeable in offshore incorporation and low-tax structures.
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