Japanese executives to meet Prayut in September

Japanese executives to meet Prayut in September

More than 500 Japanese firms, led by Japan's Ministry of Economy, Trade and Investment (METI), will visit Thailand in mid-September for further trade and investment cooperation, says Deputy Prime Minister Somkid Jatusripitak.

The move is part of activities to celebrate the 130th anniversary of Thai-Japanese diplomatic relations and highlight opportunities for investment and business expansion, especially in the Eastern Economic Corridor (EEC).

Japanese executives are to meet Prime Minister Prayut Chan-o-cha on Sept 12 to learn about investment in Thailand.

Japan ranks as Thailand's biggest foreign investor, with 284 investment projects worth 79.6 billion baht in 2016, according to data from the Board of Investment.

"It is another big business group from Japan, with more than 500 companies to listen to more information that will pave the way to their new investment or business expansion, particularly in the EEC," Mr Somkid said.

The EEC is the government's project to develop the three eastern provinces of Rayong, Chon Buri and Chachoengsao with massive government investment and infrastructure such as high-speed trains, a modernised U-tapao airport and deep-sea ports, as well as new links to those transport channels to help cut logistics costs.

Mr Somkid said the Commerce Ministry will also set up a business matching event to support investors who are seeking local partners in business expansion.

Industry Ministry Uttama Savanayana said the government expects to create further cooperation that will lead to more Japanese investment in Thailand, as well as assistance to help strengthen local small and medium-sized enterprises by encouraging them to apply more innovation and technology to create added value for Thai products.

"Apart from celebrating the 130th anniversary of our relationship, Japanese investors will also use this opportunity to express their view that Thailand will remain Japan's production base," Mr Uttama said.

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