Prime Minister Prayut Chan-o-cha has instructed the Ministry of Industry to be responsible for a plan to promote investment in automotive industry with a focus on the manufacturing of future cars.

The premier met with high-ranking executives of four automotive companies including Toyota, Isuzu, Nissan and Honda at Government House.

The meeting was part of the “Prime Minister Meets CEOs” project aimed at exchanging opinions about their problems and obstacles about doing business in Thailand. The premier clarified the government’s economic, trade and investment policies.

Ministry of Commerce permanent secretary Chutima Bunyapraphasara said all of the executives, whose companies have had a combined 58% of Thailand’s total car export, confirmed to use Thailand as a manufacturing base with a plan to expand their investment in vehicles, especially future cars such as electric, hybrid and environmentally friendly cars.

The promotion of future cars was the government’s policy to support and promote the manufacturing of vehicles to reduce greenhouse gas emissions, said the permanent-secretary.

The premier told the companies’ executives that the government was urgently revising regulations while promoting free and fair trade in support of foreign investment in Thailand. He said the Ministry of Industry had been tasked with developing a long-term plan to make Thailand a regional hub for future car production.

Source: National News Bureau Of Thailand | Four major Japanese automotive companies to use Thailand as car manufacturing base

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Proposed Amendments to Thailand’s Public Limited Companies Act

The proposed amendments aim to improve the efficiency of and bring consistency to Thailand’s corporate system and procedures that were impacted by the pandemic, as borders were closed and logistics disrupted, leading to the loss in competitiveness for local businesses.

Thai Corporate Earnings to continue Recovering in 2022 says Fitch

The earnings of Fitch-rated Thai corporate issuers should continue to improve in 2022, supported by a recovery in economic activity and a gradual reopening of the country from the pandemic

Why South-East Asian SMEs are missing out on the digital revolution

Digital financial services, in particular, have kept the South-East Asian economy afloat. The rise of digital payments and greater access to the internet have fuelled the rapid rise in digital consumers amid the pandemic. Online payments in the region are poised to exceed $1 trillion by 2025, driven by the ongoing trend away from cash payments and increased usage of e-commerce, as well as further development of new payment methods, particularly for e-wallets and prepaid cards.