Roadshow seeks Japanese investors

Roadshow seeks Japanese investors

Promotion highlights perks for foreigners

Deputy Prime Minister Supattanapong Punmeechaow. (Government House photo)
Deputy Prime Minister Supattanapong Punmeechaow. (Government House photo)

The government has organised its first investment roadshow to Japan after the pandemic, aiming to draw funds for electric vehicles (EVs), smart electronics, the medical field, tourism and services, and the bio-, circular and green (BCG) economic model.

Deputy Prime Minister Supattanapong Punmeechaow, who led a delegation to the roadshow in Tokyo and Kanagawa from April 19-23, is scheduled to meet Chief Cabinet Secretary Hirokazu Matsuno, Minister of Economy, Trade and Industry Koichi Hagiuda, as well as members of the Japan Business Federation, economic organisations and executives of 10 companies from the automotive, electronics and medical sectors.

The roadshow was arranged by the Board of Investment (BoI) and Thai trade representative chairman ML Chayotid Kridakorn.

Mr Supattanapong said the government is set to inform Japanese investors about incentives for S-curve industries, in particular the latest perks for EVs approved by the cabinet in February.

He said the government also wants to highlight incentives to draw four wealthy groups of foreigners comprising wealthy global citizens, wealthy pensioners, work-from-Thailand professionals, and highly skilled professionals.

On Sept 14, 2021, the cabinet approved a stimulus and investment promotion package aimed at attracting wealthy foreigners and highly skilled professionals from overseas to help revive the post-Covid economy.

Benefits include a 10-year visa for not only approved special visitors, but also their spouses and children.

"The government has made investment an important engine to boost the economy this year and Japan is the first country to host a roadshow because it has been a major investor in Thailand the past several years," said Mr Supattanapong.

In a related development, he said Thailand's tourism industry is expected to draw 6-7 million international tourists this year, while domestic tourism showed signs of a recovery during the Songkran festival.

Mr Supattanapong said the government is considering whether to extend the "We Travel Together" hotel subsidy campaign, as proposed by the private sector.

He said the government has pledged to come up with additional measures to assist low-income earners and help reduce the cost of living.

Duangjai Asawachintachit, BoI secretary-general, said a roadshow is appropriate at this point because the country already reopened to international travel.

Thailand needs to speed up promoting investment to help stimulate the economy, she said.

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