Why is Russia such a cesspool?

[rooster59]

Somkid urges Japanese businesses to invest in '10 future industries'

NAKARIN SRILERT



Thailand's Deputy Prime Minister Somkid Jatusripitak delivers a speech during a seminar hosted by the Board of Investment of Thailand in Tokyo on November 27, 2015. Somkid is in Japan with a group of Thai economic officials for discussions with their Jap

TOKYO: THE THAI economic ministers' delegation has urged more than 1,000 Japanese business leaders to consider investing in Thailand's 10 "future" industries, which are expected to revitalise the economy in the coming years.

Deputy Prime Minister Somkid Jatusripitak, who led the delegation to Japan, told the business leaders at a seminar titled "Thailand: Moving Forward to Sustainable Growth" in Tokyo that Japan was chosen as the first overseas destination for the international roadshow because of its long-standing economic ties with Thailand.

The delegation includes the commerce, industry, transport, science and technology, and tourism and sports ministers.

Somkid said Thailand was undergoing an economic-policy reform with emphasis on preparing the country for the next phase of growth. The industrial structure will be shifted from labour-intensive low-wage production to higher-value-added manufacturing with a focus on 10 "future" industries.

Five of these industries such as automobiles, electronics, and agriculture will be upgraded in terms of technology. For example, the government will promote new investment that will lead to production of automobiles of the future that use higher technology and are more environmentally friendly, while the electronics sector will focus on smart gadgets and devices.

For the agriculture sector, the focus is on higher-technology processing and greater use of bio-technology, while the tourism sector will be upgraded in terms of quality of services.

In addition, Somkid told Japanese businesspeople that Thailand would promote new industries such as development of industrial and other robots, aviation and logistics to benefit from linkages within Asean countries, digital and related industries, bio-chemicals, medical and healthcare sectors, among others.

These industries are expected to be the country's new engines of economic growth, as existing industries face increased competition from other countries that pay wages lower than in Thailand.

Somkid said special economic zones would be created for each of the super-clusters of industries targeted by the government, while research and development centres will be promoted to attract multinational investors. In addition to Laem Chabang and Map Ta Phut, there will be SEZs in seven provinces, including Chiang Mai and Phuket.

For the past three decades, Japanese businesspeople have played a leading role in helping to industrialise Thailand, with the previous wave of Japanese investments following the conclusion of a free-trade agreement between the two countries. Now, he said, Japanese firms should consider investing in Thailand in a big way, especially in the industries being promoted by the government as the new engines of economic growth.

Meanwhile, the Tourism Authority of Thailand has signed three memoranda of understanding with the Japan External Trade Relations Organisation, the Japanese tourism authority and Asahi TV. It is aimed at helping boost the number of Japanese tourists to Thailand to 2 million by 2020. This target will represent 10 per cent of the total Japanese tourists travelling overseas.

Source: http://www.nationmultimedia.com/business/Somkid-urges-Japanese-businesses-to-invest-in-10-f-30273874.html

-- The Nation 2015-11-28

[trogers]

All of them requiring 51% Thai share holdings?

[4jasmin]

so what are these "10 Future Industries" for Thailands Future?

Article missing out to name them.....

Edited November 28, 2015 by 4jasmin

[Srikcir]

"Somkid said Thailand was undergoing an economic-policy reform with emphasis on preparing the country for the next phase of growth."

That next phase is getting out of negative inflation, a collapsed export economy and instituting a strait-jacketed democracy. Not quite the right time for foreign investors to take the investment plunge into Thailand.