Investment from Japan is expected to continue to increase in Southeast Asia, including Thailand, as Japan and its partners jointly address challenges and develop cooperation, says the Thai Chamber of Commerce.
"Trade and investment in Southeast Asia must proceed amid challenges caused by geopolitical conflicts, including US trade policy under Donald Trump's administration," said Kalin Sarasin, honorary chairman of the chamber.
Japan, Asean and Thailand have developed a long relationship, which should foster more cooperation, he said.
Mr Kalin was speaking at the 50th Asean-Japan Business Meeting yesterday, co-hosted by the chamber in Bangkok.
The three-day event, which runs until today, supports collaboration between businesses, with a focus on tourism, food security and sustainable development.
The event's theme is building resilient partnerships for a sustainable future.
Industry Minister Akanat Promphan told participants at the event the government is confident foreign investment will continue to increase in Thailand, with Japan one of the largest investors.
"The Thai economy is driven by collaboration with businesses in Asean and Japan," he said.
According to the Board of Investment, the value of new investment project proposals soared by 42% year-on-year during the first nine months of 2024 to 723 billion baht, the highest level since 2015.
Singapore was the top source of foreign direct investment with investment applications worth 181 billion baht.
China ranked second with 114 billion baht, followed by applications from firms in Hong Kong (68.2 billion baht), Taiwan (44.6 billion baht) and Japan (35.5 billion baht).
Yuki Hirako, co-chairman of the Japan-Asia Relation Committee, said Japan focuses on several developments in Asia and Japan, which will gain momentum under continuous and closer cooperation among countries.
He stressed the need to forge cooperation in human resources development.