Japanese firms urged to make S-curve investments

The Industry Ministry is encouraging new Japanese entrepreneurs to invest in S-curve sectors in Thailand, while talking to existing investors about expanding their businesses here.
These are the primary goals of an investment roadshow in Tokyo, jointly organised by the ministry and the Industrial Estate Authority of Thailand (IEAT) from Nov 20-24.
“Japan is a target country we want to partner with to promote investment,” said Industry Minister Akanat Promphan.
“Many Japanese firms have used Thailand as a production base for more than a decade.”
During his visit to Japan, he said he plans to forge cooperation on industry development for both countries with senior Japanese officials from the Ministry of International Trade and Industry and the Ministry of the Environment.
Mr Akanat is inviting Japanese investors to seek business opportunities in S-curve industries being developed in the Eastern Economic Corridor (EEC).
Spanning parts of Chon Buri, Rayong and Chachoengsao, the EEC hosts 12 targeted S-curve industries, including new-generation cars, smart electronics, biofuels and biochemicals, digital technology and medical services.
He stressed the need for talks with Japanese automakers about their investment directions and business expansion in Thailand, as well as issues regarding human resource development.
The car companies include Toyota, Mazda, Nissan, Honda, Isuzu and Mitsubishi.
Thai officials also plan to discuss a potential investment project in Thailand with executives from Murata Manufacturing Co, a Japanese producer of electronic components.
“We have good digital infrastructure, clean energy resources, and a state investment promotion policy to facilitate foreign investment,” said Sumet Thangprasert, acting governor of the IEAT.
The authority previously launched an investment campaign dubbed “Now Thailand”, aiming for investment to play a major role in increasing GDP.
Authorities want the value of investments in Thailand to comprise 27% of GDP by 2026, according to media reports.
The IEAT has created a strong industrial estate network covering 68 locations in 16 provinces, attracting cumulative investment of more than 17 trillion baht and creating jobs for 953,630 people.