PUBLISHED: 19 Jun 2024 at 18: 56
According to the Transport Ministry, the Japan External Trade Organization ( Jetro ) has indicated that it is ready to boost investment in Thailand in light of the government’s forecast for a rebound in business and tourism in the second half of this year.
Following discussions with Jetro Bangkok President Kuroda Jun and professionals from the Chinese Chamber of Commerce in Thailand, Transport Minister Suriya Jungrungreangkit made the announcement.  ,
A Jetro statement on the first half of this year’s business climate for Chinese corporations was included at the meeting along with pledges to work more closely in the transportation sector.
The review found that the Thai government’s designed economic stimulus actions and ramped-up tourist spending during the high season had caused the firm attitude to level off in the first quarter but was expected to improve in the next six weeks.
The survey examined the impact of Japanese companies ‘ investments in Thailand this year, finding that 23 % of respondents want to increase it, and 18 % want to reduce it.
Regarding trade export forecasts for the second half, 48 % of respondents expected no change, 33 % plan to increase exports, and 20 % anticipated a decline.
Vietnam, India, and Indonesia are Thailand’s main export markets, and their forecasts included the possibility that the Thai baht did remain around 35.5 % of the value of the yen.
The challenges that Japanese companies face when making investments in Thailand are the high costs of labor ( 43 % ), the price of materials ( 42 % ), and the volatility of exchange rates ( 27 % ). The interviewees were permitted to provide many responses.
Additionally, the survey asked what policies Chinese companies would like the Thai government to implement. They reported that they are most interested in promoting consumption ( 21 % ), environmental problems ( 21 % ), and improved infrastructure ( 20 % ).
Basic infrastructure ( 25 % ), visa and permit issuance ( 19 % ), and the adoption of digital systems in state administration ( 12 % ) are policies that Japanese companies think the government has succeeded in.
According to Mr. Suriya, the government’s Ignite Thailand policy received positive feedback because the survey revealed that Japanese companies had high expectations for logistics ( 41 % ), future automotive manufacturing ( 33 % ), tourism ( 23 % ), and the medical and health care sectors ( 20 % ).
The minister stated that Japan has shown an interest in the ministry’s different plans for constructing facilities.
These include the development of aircraft expansions, such as the third-phase growth of Don Mueang Airport, the completion of Suvarnabhumi Airport’s north switch, the development of Chiang Mai and Phuket airports, and the construction of Lanna airport in the north and Andaman airport in the south.
Japan has expressed interest in the Bangkok mass transport rail project’s 20-baht flat-tariff policy and the global double-track railroad project.
Additionally, it recommended putting in place a feeder system to make travellers more convenient and less expensive.