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"Carmakers have complained that the tax-stimulus package is not attractive enough. Hence, we will listen to them about what incentives they really want. We will try our best to encourage them to use Thailand as their production base for E85 compatible cars in the region," he told the mediaafter meeting with 14 auto-makers.

An industry source said some auto-makers require that the government cut the excise tax lower than for E20-compatible cars.

Suwit was confident the investment in E85 vehicles would not affect the eco-car project. Furthermore, the government will probably continue supporting the production of hybrid-vehicles to meet the demand for alternative-fuel vehicles, he added.

"We will draft a roadmap for improving our automotive industry, and other measures involving ethanol and sugarcane, in order to solve the crisis of high oil prices in the long term," he said.

Today Suwit is scheduled to meet representatives from the Thai Ethanol Manufacturing Association at the Industry Ministry.

In his speech on "Thailand Investment Year 2008-09" held by the Board of Investment (BoI), he insisted that the BoI's net applications are still projected at Bt600 billion this year.

Of the total, infrastructure investment will make up Bt150 billion, petrochemicals Bt90 billion, and the automotive, steel, and electronic industries Bt80 billion each.