ID :
349283
Wed, 11/26/2014 - 17:01
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Thailand welcomes more investment from Japan, China

BANGKOK, November 26 (TNA) - Thailand eyes expanding investment from Japan and China. The Thai Ministry of Industry's Department of Industrial Promotion signed a memorandum of understanding (MOU) with Japan's Fukui Prefecture in Bangkok on Tuesday to develop cooperation among small and medium-sized enterprises (SMEs) in the industrial sector of both countries, which is expected to help draw more Japanese investment into Thailand and, thus, create more jobs in Thailand. The MOU was inked by Department of Industrial Promotion Director General Arthit Wuthikaro and visiting Fukui Governor Issei Nishikawa. Under the MOU, Thailand and Fukui will implement projects for industrial exchange and connect their industrial clusters at the SME level. Arthit told journalists that Fukui is outstanding for garment and textile products, as well as machines, particularly those used in the textile industry. Arthit noted that Fukui gains the largest market share of textile products in Japan and its eyeglass frame business forms 90 per cent of Japan's eyeglass frame production. Twenty companies from Fukui have invested in Thailand and run 11 factories, most are in the textile industry, with their combined investment standing about 7 billion baht. Official statistics show that there have been over 300 Japanese investment projects in Thailand so far this year, totally worth more than 109 billion baht, and overall Japanese investment value in the Thai economy at the end of 2014 is expected to increase to 150 billion baht. Also on Tuesday, the Board of Investment of Thailand (BOI) and authorities from China's Shandong Province jointly organized the Shandong-Thailand Investment Promotion and Matchmaking Forum in Bangkok, in which BOI senior executive investment advisor Ajarin Pattanapanchai announced that Thailand welcomes Chinese business operators to expand their investment into the Thai economy, especially in the rubber industry, as Shandong is a Chinese industrial hub and arrivals of their investors in the Thai economy should, therefore, help increase the value of natural rubber in Thailand, known as a world most important natural rubber production base. Ajarin acknowledged that Thailand also eyes to boost bilateral trade in farm products with Shangdong, including vegetables and fruits, and to enhance tourism cooperation with the Chinese province. (TNA)

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