Private sector sees "pro" than "con" for Thailand from US-China trade war

BANGKOK, May 13 (TNA) - The Board of Trade of Thailand (BTT) has assessed that the escalating trade war between the United States and China currently should have positive than negative impacts on Thailand through more foreign direct investment (FDI) projects in the country. BTT Chairman Kalin Sarasin voiced the assessment in Bangkok on May 12, acknowledging that there have been rising applications lately for promotional privileges submitted to the Board of Investment of Thailand (BOI) by Chinese, US and Japanese business operators who see rooms in the Thai economy, where they can rely on as a new base to produce their goods to be shipped to the United States, or China, and other member countries in the Association of Southeast Asian Nations (ASEAN). Besides, business operators in Thailand are actively exploring ways to turn the Thai Kingdom as a regional hub for exports of goods to the immense Chinese, the US and the ASEAN economies. Kalin raised electronic, electrical and high technological products as potential exported goods from Thailand in the near future, calling on the newly-elected Thai government to implement measures to facilitate foreign investors in the relocation of their production plants to the Thai economy, in which more jobs will also be created. Meanwhile, Supant Mongkolsuthree, Chairman of the Federation of Thai Industries (FTI), told journalists part of Thai products that could substitute Chinese goods should be shipped more to the US market. The FTI chief also urged the newly-elected Thai administration to move fast to attract more FDI projects to the country, including those from Japan, India and Europe, through incentives that are fair to both Thailand and foreign investors. (TNA)