On July 23, 2019, Mr. Suriyah Juangroongruangkit, Minister of Industry, revealed after a high-level executive meeting to set policies that there is a plan to discuss with the Japan External Trade Organization (JETRO) regarding the direction and policies to promote industrial investment in Thailand within this July. He has assigned Mr. Pasu Loharjun, Permanent Secretary of the Ministry of Industry, to clarify the schedule for meetings with both domestic and foreign businesspeople within one week. Discussions with investors from China and Japan are a top priority to gather opinions and insights, including pros and cons, to improve Thailand's investment promotion policies and regulations to align with investors' needs.

          “Following the Nikkei Asian Review's publication of the latest investment trend survey, it was found that four companies are likely to decide to invest in Thailand, including Casio, a watch manufacturer; Ricoh, a manufacturer of office automation equipment and supplies; City Chain Watch, a watch manufacturer; and Sylon Tire, a tire manufacturer. Additionally, several investors are preparing to relocate their production bases from China to invest in countries like Vietnam, Mexico, and Taiwan, such as Apple, Skechers, Mitsubishi, Sumitomo, and Asus. Therefore, Thailand should seize this opportunity to attract investors who are moving out of China to invest here. There are plans for an overseas investment information roadshow, particularly in China, which is urgent. I believe that after the government presents its policies to the parliament, it will significantly boost investor confidence,” said Mr. Suriyah.

          Furthermore, he has assigned the Office of Industrial Economics (OIE) to expedite the development of a plan to attract investors planning to relocate their production from China due to the impacts of the China-U.S. trade war, to be completed within one week. The Ministry of Industry will also consult with the Federation of Thai Industries (FTI) to gather opinions on issues that hinder business operations. Additionally, there is a need to work collaboratively with the Ministry of Finance and the Board of Investment (BOI) to review investment incentives to stimulate industrial investment, create skilled job opportunities, and benefit from knowledge transfer.

Thank you for the information from www.thaipost.net