Foreign investment via their joint ventures with Thai partners (foreign shareholding at 49 per cent) in the EEC stood at Bt752.780 billion.
Japanese investors pledged Bt375.907 billion, followed by China Bt67.872 billion, Singapore Bt42.358 billion, US Bt27.908 billion and those from the Cayman Islands at Bt23.169 billion.
Vuttikrai said that investors from Cayman Islands were interested in the production of electricity controls and distribution equipment, holdings, and communications devices.The EEC covers Rayong, Chon Buri and Chachoengsao provinces.
The number of new companies registering in the Eastern Economic Corridor (EEC) from January to August this year rose 2.03 per cent year on year to 4,976, according to the director-general of the Department of Business Development, Vuttikrai Leewiraphan.
Their total registered capital was Bt17.462 billion, up 38.05 per cent year on year. The top three business sectors were: real estate companies totalling 829 companies, with total capital of Bt2.364 billion, followed by building construction companies (398) with Bt661 million, and restaurants (183) with Bt438 million.
Thai DPM Somkid meets with Japanese Chamber of Commerce
Thai government is pushing forward projects such as the Thailand 4.0 development model and the Eastern Economic Corridor without any changes in key policies, reaffirming the coalition government will ensure a unified economic direction through economic ministers meetings.
BANGKOK, 5th August 2019 (NNT) – Deputy Prime Minister Somkid Jatusripitak has given an assurance to JCC Bangkok president, that Thailand is pursuing key policies including Thailand 4.0 and the EEC project, while the JCC president says Japanese investors are more confident with the Thai economy in H2 2019(more…)
How Asia could be the winner in the US and China’s Belt and Road race
The world’s three largest economies – the US, China and Japan – are actively manoeuvring for economic and geopolitical influence through infrastructure funding
Hino To establish a development and production base in Thailand
Once the factory begins operation in 2021, Hino will first start off by producing vehicles for the domestic Thai market
Japanese motor Company to push forward with locally led manufacturing of best-fit products to quickly respond to customer needs in close proximity
Under this new setup, Hino will be constructing a new center in Bang Bo, Samutprakarn Province to consolidate and strengthen our product planning, development, and production functions for best-fit products in ASEAN.
The site has an area of roughly 400,000 sqm. Construction is scheduled to begin in July 2019 with operations to begin in 2021.
The new center will consist of the new plant’s production area, and a development area centered around a test track. The total investment amount is expected to be roughly 11.5 billion yen.
Operations to begin in 2021
Once the factory begins operation in 2021, we will first start off by producing vehicles for the domestic Thai market, and expect to begin supplying ASEAN best-fit vehicles to other emerging markets by roughly 2024.
Hino Motors, Ltd. (HQ: Hino City, Tokyo, President & CEO: Yoshio Shimo; hereafter “Hino,”) and Hino Motors Manufacturing Thailand, Ltd. (HQ: Samrong, Samutprakarn Province, President: Somchai Pleankaew; hereafter “HMMT”), our manufacturing company in Thailand, in order to achieve our vision of “Corporate strategy 2025” and enable us to respond to customer needs in close proximity, will be taking steps in Thailand, one of our key centers of operation, to accelerate our efforts to strengthen our business foundation in ASEAN.
By newly appointed Mr. Somchai Pleankaew, who has an exceptional career background with Hino, to president of HMMT, we will be creating an organizational setup that will enable us to drive our business in a locally led manner.
Mr. Somchai Pleankaew, who assumed the office of president of HMMT as of Feb 1 has this to say:
HMMT will put all of our effort to make this project successful in order to enable the growth of our company. Our aim is to serve all customers to their greatest satisfaction by providing the best-fit products and total support customized for each vehicle.
In addition, as a center of Monozukuri, including product planning, development, and production, as well as Total Support in ASEAN, Hino Thailand will collaborate and go forward with Hino in ASEAN in order to grow and strengthen together to support the growth of our customers’ businesses in the ASEAN region.
The Hino Group will be reforming its business structure to achieve sustainable growth leading up to 2025. We position Thailand as one of our key markets for sales in the ASEAN region, our second pillar after the Japanese market. The country is also one of our key business centers and a driver of Monozukuri and Total Support within the region.
The new center to be constructed will consolidate and strengthen our product planning, development, and production functions in Thailand.
New center overview
|Name||Suvarnabhumi Monozukuri Center|
|Location||Bang Bo, Samutprakarn Province|
|Site area||400,000 sqm|
|Functions||Product planning, development, and production of Hino vehicles|
|Products produced||Light- and medium-duty trucks and buses|
|Operation startup date||Scheduled for 2021|
|Employees||Approx. 1,300 (at the time of operation startup)|
As a “Monozukuri Center” it will be designed with the capability to commercialize and supply ASEAN best-fit products locally and consistently. In addition to increased coordination between different functions, we will be taking steps in product development to push forward with localization of product development by upgrading organizational setups and constructing a new test track so that we will be able to respond to customer needs quickly and accurately at close customer proximity. In the area of production, the production functions that are currently distributed across existing plants in Thailand will be consolidated at the new center to improve production efficiency.
Furthermore, know-how from the Koga Plant―our global mother plant―will be actively incorporated into the plant to create a system that will enable us to deliver competitive products to our customers in a timely fashion.
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