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Huge Japanese business delegation focuses on EEC

Posted by pakin On September - 12 - 2017

About 50% of FDI for first half of the year comes from single economic partner.

AS A MASSIVE delegation from Japan visits the Kingdom, Thailand expected them to boost investment in infrastructure, particularly for dual-rail, high-speed trains, by next year to steer development in the Eastern Economic Corridor (EEC), Prime Minister Prayut Chan-o-cha said yesterday.

Other infrastructure projects encouraged by Prayut included ports, aviation and digital systems in line with the 10 new industrial groups targeted to become Thailand’s economic growth engines. “The first five years will focus on these developments. I look to Japan as a good example of train development,” Prayut said.

“In the future, there will also be developments in the West, North and the South. We have to integrate all these plans to connect investments and services, not only among regional provinces but also with CLMV countries,” he said, referring to the grouping of Cambodia, Laos, Myanmar and Vietnam.

The Thai government also expected to facilitate development in the EEC by creating fast tracks such as encouraging more “public-private-people” cooperation, he said.

Thailand plans to invest about Bt700 billion to construct and develop infrastructure in the EEC as part of a five-year plan.

The Kingdom also looked forward to new cooperation and exchanges in industry, innovation and technology as well as support for SMEs, the premier said.

With Japanese SMEs contributing greatly to that country’s economy, accounting for more than 90 per cent of businesses in Japan, Prayut said he expected that they and around 3 million Thai SMEs could help to support each other in creating jobs.

Prayut welcomed at Government House yesterday Hiroshige Seko, Japan’s Minister of Economy, Trade and Investment, along with 570 high-level Japanese business people, representatives from economic organisations and SME entrepreneurs who are visiting Thailand from yesterday until tomorrow.

Seko referred to Thailand’s crucial role as Asean’s industrial hub, which Japanese companies have utilised for a long time. “The numbers of Japanese research and development facilities in Thailand is one example,” the minister said. “Our economic-centric cooperation is going to step up as high-level industry development.”

 

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