Saturday, February 23, 2008

Asian investors to re-invest in Thailand

23 Feb, 2008, 2123 hrs IST, AGENCIES
BANGKOK: Major Japanese and Indian investors are now prepared to resume their investments in Thailand, Suwit Khunkitti, Thailand's deputy prime minister and industry minister, said. His remarks were made after Hiroshi Shimozuma, chairman of the Kansai Economic Federation (Kankeiren) of Japan, yesterday asked him earlier in the day about the Thai government's investment policy for 2008 and 2009, as Japanese private investors wanted to invest more in Thailand. Cooperation in the fields of trade and investment between the two countries would grow significantly thanks to the implementation of the Japan-Thailand Economic Partnership Agreement (JTEPA). Suwit said his ministry would assign the Board of Investment to cooperate with Japanese Chamber of Commerce and Bangkok-based Japan External Trade Organization (JETRO) to help solve problems for Japanese investors in Thailand. Japanese investors are keen on investing in steel, vehicles and vehicles spareparts industries in Thailand, he said. In another meeting with Subramanium Ramadorai, CEO and managing director of Tata Consultancy Services Ltd , a major manufacturer of auto and steel in India, Suwit said the company was interested in investing in steel, auto and information technology businesses in Thailand. Meanwhile, Prime Minister Samak Sundaravej told a press conference that Japanese ambassador to Thailand Hideaki Kobayashi and Kankeiren chairman Shimozuma had meting with him yesterday. Samak reported that Japan's ambassador had told him that Japanese investors are now prepared to resume investment in Thailand as this country now has an elected government. The Tokyo government is prepared to provide a loan at 1. 4 per cent interest for the elevated train running from Bang Yai in Nonthaburi province, passing through Bang Sue to Ratchaburana in the city's Thonburi side, Samak added.

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