British companies are keen to increase investment and trade in Thailand and Asean, thanks to the country's flagship Eastern Economic Corridor (EEC) project and the government's Thailand 4.0 policy.
Prime Minister Prayut Chan-o-cha has been in Britain since Wednesday and is travelling to France, where he will stay until Monday. During his European tour, Gen Prayut will speak to investors about Thailand's economic potential and investment opportunities.
Industry Minister Uttama Savanayana said the government will meet with senior-level political and business figures at Asia House in London to promote Thailand 4.0 and the EEC.
Mr Uttama also spoke with Warren East, chief executive of Rolls-Royce, to invite the company to invest in Thailand's EEC maintenance, repair and operations (MRO) hub at U-tapao airport.
Asia House, the leading pan-Asian organisation in Britain, drives economic and political engagement between Europe and Asia by bringing together senior decision-makers, business leaders and opinion shapers to engage in high-level discussions that directly impact business and policy strategies.
"The Thai government will meet with the leaders of 20 companies in the UK, including Arup, HSBC Group, KPMG, Shell Petroleum Co, Prudential Plc and Wood Plc," Mr Uttama said.
He said British businesses are interested in Thai startups and small and medium-sized enterprises (SMEs), which the Thai government is promoting.
The Thai delegation told an Asia House official that the government aims to support robotics and system integrators to increase the efficiency of factories and SMEs.
The ministry plans to help 50,000 SMEs reduce their production costs by more than 10% annually in the next three years (2018-21).
The Thailand 4.0 scheme is being pushed by Gen Prayut's government to facilitate Thailand's technology-driven transformation. The EEC, a special economic zone set up in the three provinces of Chon Buri, Rayong and Chachoengsao, was designed to develop value-added industries.
Thailand and Asean are vying to attract foreign investment to promote innovation, infrastructure and services development. They aim to complement China's One Belt, One Road policy.
Japan and India are also pushing for greater involvement in the region. India's Act East Policy, for example, envisions greater trade and other ties with Asean countries.
"Thailand 4.0 is designed to connect the country with the economic powerhouses of the region: China, India and Japan," Mr Uttama said. "The government believes that Thailand has been marked as a high-potential country in the region as a logistics/transport hub and business centre. Thailand is also the only Asean country that is party to every economic-corridor cooperation pact."