Thailand and Japan sign 7 deals to strengthen economic ties

At a meeting held in Bangkok yesterday between members of the Thai government and their Japanese counterpart saw the signing of seven formal contracts.

Which focused on industrial development and development of the eastern economic corridor.

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The Japanese minister of Economy, Trade and Investment, Hiroshige Seko arrived with 570 Japanese businessmen who were all looking for investment opportunities here in Thailand especially the EEC which the Thai government has been heavily promoting.

Thailand and Japan sign 7 deals to strengthen economic ties

Minister Seko said Japan would continue supporting Thailand as a hub for trade between neighbouring countries which is are comprised of Cambodia, Laos, Vietnam and Myanmar.

Thailand’s Deputy Prime Minister asked the group of investors to consider investing in the construction of a high-speed railway linking Vietnam, Thailand and Myanmar as well as their plans to connect the north and south of Thailand by rail as well.

Uttama Savanayana, the Thai Industrial Minister, told the Japanese delegation that investment into Thailand’s EEC over the first five years is expected to be $43 billion (1.4 trillion baht) with 20% of that sum coming from the Thai government and the rest sourced from public-private partnerships (PPP).

Thailand and Japan sign 7 deals to strengthen economic ties

So far car automobile manufacturer Toyota has pledged to commit 20 billion baht paid over two years in a bid to produce hybrid cars in the EEC.

Kanit Sangsubhan, the secretary-general of the EEC Office said that Hitachi also want to invest in the EEC to build a big data centre there.

Kanit went on to say that the EEC would be ready by the end of 2017 when the government will have completed terms of reference for investment projects.

Projects include high-speed railways, an airport, seaports and a new “smart” city where investors will be provided with more information and have the opportunity to bid for projects and contracts.

Source : Thenation

Content : LovePattayaThailand

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