Leading U.S. firms have expressed interest to expand their investment in Thailand as the government is stepping up efforts to fight corruption and bolster the economy, Government spokesman Yongyuth Mayalarp said.
The businessmen led by chairperson of the U.S.-ASEAN Business Council called on Prime Minister Prayut Chan-ocha at Government House Monday.
The spokesman said General Prayut informed the U.S. businessmen that his government is implementing the democracy-restoration roadmap and undertaking national reform in 11 major areas with participation of people from all walks of life.
The prime minister also said his government attaches importance to bolstering national economy, focusing on infrastructure investment.
He said the prime minister also told the U.S. businessmen that his government has instructed the Board of Investment of Thailand (BoI) to revise regulations to support foreign firms in Thailand and grant them more privileges.
The businessmen were also informed that the government plans to open more special economic zones along the border, he said.
According to Yongyuth, the U.S. businessmen are keen to invest in Thailand’s energy, basic infrastructure, information technology and medical tourism industries.
With the impending establishment of the ASEAN Economic Community (AEC) in late 2015, US companies are focusing on the prospects that will emerge from regional economic integration, although most survey respondents hold the position that the goals of the AEC will be reached by 2020 or later.
Nonetheless, three quarters of the respondents in Thailand indicated that the amount of company trade and investment in ASEAN increased in the past two years
and even more expect this trend to continue in the next five years. Overall, 78% of Thai-based American business executives regard a single ASEAN market as important to helping the bottom lines of their firms in the region.