Thailand, Japan's Ehime Prefecture become economic partnership

BANGKOK, January 19 (TNA) - Japan’s Ehime Prefecture and the Thai Ministry of Industry's Department of Industrial Promotion have signed a memorandum of understanding (MOU) on business synergy partnership, aimed at raising industrial standards of both sides. The MOU was signed in Bangkok on January 18 by visiting Ehime Governor Tokihiro Nakamura and Thailand's Department of Industrial Promotion Director-General Somchai Harnhirun with the mentioned objective, especially in the shipbuilding, textiles, paper, chemical products, petroleum and coal industries. Sonthirat Sonthijirawong, an adviser to Thai Industry Mnister Atchaka Sibunruang who witnessed the signing of the MoU, later told journalists that Japan currently plays a significant role in Thailand’s industrial sector, as Japanese industrial entrepreneurs have invested about 40 per cent of total foreign investment in the Thai economy. Sonthirat said in 2014 alone, Japanese investment in Thailand stood at more than 150 billion baht and the MOU should benefit Thai business operators who could learn Japanese technologies, while more industrial cluster could be formed in Thailand. So far, the department of industrial promotion chief acknowledged, 15 firms from Ehime, including those in agricultural machinery, processed food, plastic and chemical products, have invested in Thailand, with their combined investment standing over 5 billion baht. According to the senior official, nine other Japanese firms are interested in business synergy with Thailand. (TNA)