Mr. Pichai Naripthaphan, Minister of Commerce, revealed after discussions with Mr. KURODA Jun, President of the Japan External Trade Organization, Bangkok (JETRO Bangkok), and Mr. TO Kozo, President of the Japanese Chamber of Commerce, Bangkok (JCCB), that both sides discussed strategies to promote economic trade and investment, aiming to create an environment that supports sustainable business cooperation between Thailand and Japan.
Mr. Pichai encouraged Japanese investors to increase their investments in Thailand, particularly in future industries such as semiconductors, data centers, printed circuit boards, and artificial intelligence (AI). These investments will help drive economic growth and create new opportunities for expansion. He also urged Japan to integrate Thailand into its semiconductor and AI supply chain, as Japan plans to invest over 10 trillion yen (2.2 trillion baht) in this sector over the next 10 years.
Furthermore, Mr. Pichai directed the Ministry of Commerce to take a proactive approach to addressing potential challenges in advance and improving the country’s economic structure. From February 3 to 8, he will travel to the United States to engage in discussions with US policymakers and private sector representatives regarding the tariff barriers imposed by President Donald Trump, which the private sector is currently concerned about.
Both the Thai government and the Ministry of Commerce are committed to promoting, supporting, and facilitating Japanese businesses to make Thailand a key investment hub. The country’s economy, under the leadership of Prime Minister Paetongtarn Shinawatra, is progressing well and moving in the right direction, with JETRO and JCC playing a crucial role in driving Thailand’s economy and investment.
Due to Japan having long been Thailand’s top cumulative investor, the Prime Minister has come to highly value Japanese businesses operating in the country and hopes to see even greater investment in the future.
JETRO and JCC have proposed policy recommendations to serve as a guideline for the Thai government in creating an ecosystem that enhances trade and investment efficiency. Their suggestions include facilitating business operations for foreign companies in Thailand, increasing flexibility on investment-related regulations, particularly amending the Foreign Business Act B.E. 2542 (1999), enhancing cybersecurity measures, and leveraging modern technology to boost agricultural productivity.
The Ministry of Commerce has expressed its willingness to consider these proposals in shaping economic policies, as well as to integrate and coordinate with relevant agencies to further strengthen Thailand’s strategic partnerships.
Japan recognizes that the Thai government has made significant improvements in several areas, including a 28% advancement in transportation infrastructure development, a 15% increase in the adoption of digital technology in government operations, a 14% improvement in streamlining the work permit and visa issuance process, a 14% growth in communication infrastructure development, an 11% implementation of measures to address flooding issues, and a 10% advancement in economic agreements, particularly regarding FTA and EPA. These developments have reinforced Japan’s confidence in continuing its investment in Thailand.
