PM Srettha: Six advantages to make Thailand an investment hotspot
Prime Minister Srettha Thavisin, addressing potential investors at SUBCON Thailand 2024, asserted that Thailand possesses a plethora of advantages positioning it as an investment hotspot for crucial industries such as electrical vehicle (EV) and electronics manufacturing.
Hosting the international trade show for part-sourcing and business-matching, the premier highlighted Thailand’s standout traits, starting with its geopolitical stability, distinguishing it from its regional rivals.
“Our Land Bridge project, with a hefty US$300 billion (approximately 10 trillion baht) price tag, promises hefty returns by revolutionising logistics routes, solidifying Thailand’s status as a manufacturing and export powerhouse.”
The Land Bridge initiative entails the construction of deep-sea ports in Chumphon and Ranong provinces, connecting transport routes to link the ports, thereby establishing a vital link between the Pacific and Indian Oceans, relieving shipping congestion in the Malacca Straits.
The 62 year old Thai PM continued to extol Thailand’s virtues, emphasising government initiatives promoting clean energy, ongoing negotiations for free trade agreements, a focus on enhancing quality of life, fostering entrepreneurship, and comprehensive infrastructure development. He particularly highlighted the Eastern Economic Corridor’s deep-sea port development, crucial for facilitating logistics routes.
With over 500 domestic and international companies participating in SUBCON Thailand 2024, and an estimated business matching revenue of over 22 billion baht, Thailand’s investment potential is on a meteoric rise, reported The Nation.
Moreover, the inclusion of the BOI Symposium: EV Supply Chain marks a pivotal moment, with representatives from major EV makers set to explore investment opportunities in the country.
In related news, Microsoft‘s announcement of its inaugural investment in a data centre region in Thailand is likely to boost the country’s digital ecosystem and potentially stoke competition within the data centre sector.
The news came as part of a tour by Microsoft Chairman and CEO, Satya Nadella, who visited Indonesia, Thailand, and Malaysia to unveil a series of investments in data centres, artificial intelligence (AI), and cloud services.
