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Japan Keen to Invest More in Thailand

By on Nov 08, 2013 in Property News

Thailand and Japan have agreed to improve the business environment here by facilitating investments from Japan and removing barriers agreed under the Japan-Thailand Economic Partnership Agreement (JTEPA).

Speaking after a joint meeting of representatives from the two countries under the JTEPA, Japanese ambassador Kiminori Iwama said Japan is interested in Thailand’s policy to promote the country as a regional headquarters for foreign investors.

Other topics discussed were customs,labour issues and flood prevention after Thailand suffered major flooding this year following the huge 2011 floods.

The Japanese side proposed that the Thai government develop more roads near Laem Chabang deep-sea port in Chon Buri as the road network is quite congested. This is vital to improve the efficiency of shipments to and from the port, said Mr Iwama.

Japan has also expressed an interest in joining the government’s 2-trillionbaht infrastructure investment, especially high-speed train projects.

Susumu Uneno, president of the Japanese Chamber of Commerce (JCC),said the new investment regime to be implemented by the Board of Investment (BoI) would help Thailand move up the value chain and improve its competitiveness before the Asean Economic Community (AEC) is set up in late 2015.

“With appropriate positioning in the AEC, Thailand will be able to attract more investments from Japan,” Mr Uneno said.”The JCC has a clear stance to support Thailand to develop the economy with more value-added manufacturing. In the meantime, we ask the BoI to implement policies that will not affect the existing value chain.”

According to the BoI, investments from Japan to Thailand totalled 852.6 billion baht over the last five years, mainly in the automotive, machinery, electrical appliances and electronics sectors.

They included a 14-billion-baht project by Toyota Motor to manufacture diesel engines and parts, Nissan Motor’s 15-billion-baht pickup truck production project, Nikon’s 12-billion-baht project to produce digital cameras and parts,and Mazda’s 11-billion-baht project for manufacturing gear systems.

Source | Bangkok Post 7 November 2013

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