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Baht/$ 33.57/62
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GOLD |
14,000
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AEROSPACE
VICHAYA PITSUWAN
Imai-Aero Equipment Manufacturing Ltd (IAC), a leading regional aerospace parts maker, plans to invest in Thailand to create a manufacturing base, according to Industry Minister Suwit Khunkitti.
The company had also been offered generous incentives by Vietnam and Malaysia, he said. ''However, we were its preferred choice due to our success in drawing Japanese automobile firms to use Thailand as a production hub.''
He said the company also expected to do business with potential partners that already had production here.
IAC has received Board of Investment (BoI) incentives to spend 60 million baht on a wing assembly plant in Amata City Industrial Estate, Bang Pakong.
Mr Suwit said that even though the investment was small due to the high import contents for components, IAC planned to build up its presence in the country in the future.
He said he hoped the IAC investment would draw more aerospace and parts investment to Thailand. ''The industry itself uses a lot of money and demand for small jets is expected to double in the next five years,'' Mr Suwit said.
Mr Suwit also insisted that the current political turmoil had not interrupted foreign investment.
The minister claimed that he had not been approached about political concerns. However, if tension was prolonged, some measures would be needed to guard against the possibility that investors would shift elsewhere, he conceded.
Mr Suwit is still hopeful that the BoI would achieve its target to attract 600 billion baht worth of projects this year.
''I was happy with the figure in the first four months, though the figure in May was not satisfactory, but I am still hoping that we will achieve the target with hard work,'' he said.
In the first five months of this year, BoI statistics show 556 proposals worth 189.8 billion baht seeking privileges. The figure was only 100 million baht more than in the same period last year.
The BoI is scheduled to meet with the Fiat group of Italy next week in an attempt to persuade the carmaker to invest in E85-compatible vehicle manufacturing in Thailand.
Mr Suwit said the project could be worth a total of 40 billion baht.
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