Mon, June 27, 2022

business

Prayut invites Japanese businesses to invest in EEC


Prime Minister Prayut Chan-o-cha invited Japanese businesses on Thursday to invest in the Eastern Economic Corridor.

Prayut extended the invitation during a speech at the 27th International Conference on the Future of Asia (Nikkei Forum) in Tokyo at 1pm local time.

He told Japanese investors he believes Japan is a true friend of Thailand.

Prayut said Japanese Prime Minister Fumio Kishida’s visit to Thaiand and Asean early this month sent a positive signal for the region. The visit also marked the 135th anniversary of Thai-Japanese relations.

Japan is the second most important trading partner of Thailand and the two countries have been sharing strong economic ties since the signing of the Japan-Thailand Economic Partnership Agreement, Prayut noted.

He cited the bilateral trade value of US$60 billion (THB2.05 trillion) last year to prove that ties were strong.

Prayut also thanked the Japanese government and businessmen for believing in Thailand’s potential and for supporting the country’s economic and social development.

He expressed hope that Japan would attend the Asia-Pacific Economic Cooperation summit to be hosted by Thailand in November.

In his speech, Prayut also expressed confidence that Japan and other Asian nations will cooperate to revive the economy, survive the current crisis and cooperate to create peace and stability in the region.

The premier said Asian nations must support multilateral trade, with the World Trade Organisation serving as the moderator of rules.

He promised that Thailand would develop its business environment to facilitate international trade and investment and support foreign businesses.

Thailand, he said, is now upgrading its airports and developing its telecom networks and digital infrastructure, as well as high-speed Internet connection and cloud storage and smart city technologies.

Prayut said the country’s banking systems have been modernised with capacity to make transactions via apps. Thailand has also linked its digital payment system to those of Singapore, Japan, Cambodia, Malaysia and Indonesia and will expand the system to link other nations, especially Apec members.

Prayut went on to say that Thailand would firmly support multilateral trade, especially the idea of the Free Trade Area of the Asia-Pacific (FTAAP).

Prayut pointed out that economic revival must be sustainable and one way to see this is to use clean energy. He invited Japanese investors to join Thailand’s mission in achieving its goal of becoming carbon neutral by 2050.

Prayut added that Thailand has now started its transition to clean energy by supporting and boosting the electric vehicle industry.

Published : May 26, 2022

By : THE NATION