BOI MISSION IN JAPAN
Investor Confidence and resolution of Map Ta Phut issue
The Industry Minister is leading a Board of Investment (BOI) mission to Japan to meet with the Japan External Trade Organization (JETRO), the Japanese Business Federation (Keidanren) and the Kansai Economic Federation (Kankeiren) in order to establish clear understanding and secure confidence in Thailand as a location for investment, particularly with the resolution of the Map Ta Phut issue. The mission will also promote sustainable industrial development and cooperation with the private sector in research and development of agricultural machinery in Thailand.
To further improve the investment climate between the two countries, the Board of Investment (BOI) will organize investment promotion seminars in Tokyo and Osaka.
According to Industry Minister Chaiwuti Bannawat, executives from the BOI, Department of Industrial Promotion, the Office of Industrial Economics and the Thailand Automotive Institute will visit Osaka and Tokyo from 14-18 September. The mission will meet with Japanese businesspeople to clarify their understanding of investment policy and the investment climate in Thailand following the ruling by the Administrative Court that lifted the injunction on all but two companies investing at Map Ta Phut, the guidelines that have been established for companies to conduct their health and environment impact assessments, and the finalization of the list of 11 types of industrial projects deemed harmful to the environment.
The mission also aims to create a clear understanding among Japanese investors of Thailand?s economic restructuring policy, which is formulated to make the economy knowledge-based and creative. With a focus on industrial sector competitiveness and sustainable development, research and development will be upgraded to add value and lay a strong foundation for sustainable development in the long run.
During this mission, seminars are being held in Japan?s two big cities ? Tokyo and Osaka. The mission is scheduled to meet with a number of major economic bodies in Japan, including Keidanren, Kankeiren, JETRO, the New Energy and Industrial Technology Development Organization (NEDO) and the Organization for Small & Medium Enterprises and Regional Innovation, Japan (SMRJ). Courtesy visits to major Japanese automotive, machinery and metal product manufacturers will also be arranged to strengthen the relationship and solidify confidence in investing in Thailand.
?This road show is a major platform for us to clarify and establish good understanding with Japanese businesspeople, who are very important to investment in Thailand. It is very important for them to understand and be sure that the problems at Map Ta Phut have been addressed and that Thailand has a clear policy and direction for the promotion of potential industrial development. We hope the road show will improve the investment environment between Thailand and Japan and encourage Japanese investors to continue investing in our country,? said the Industry Minister.
Dr. Atchaka Sibunruang, Secretary General of the Board of Investment, added that the BOI is hosting major business seminars in Osaka and Tokyo. The event is providing a chance for Japanese business circles to hear more about the business potential and opportunities provided by Thailand, as well as information about promotion incentives for foreign investors. The mission also seeks to ensure foreign investors that the Thai government?s commitment to industrial development and promotion remains unchanged. BOI expected each seminar to attract more than 600 participants.
Japanese investors have the largest foreign investments in Thailand, and have played a crucial role in Thai industrial development and export, especially as related to electronic and automotive products.
During the first seven months of this year (January-July 2010), Japanese investment in Thailand consisted of 184 projects, representing a 41.5% increase year on year, with a total investment value of Bt43.35 billion, a 43.6% increase over the same period last year. These investments include nine large scale projects (projects with an investment value over one billion baht) in various industries, such as metal parts, electronic parts, chemical production, and power generation.
Source : BOI