Srettha holds talks with Tesla chief Musk
Prime Minister and Finance Minister Srettha Thavisin met with global business leaders in New York as he sought to attract more foreign investment to Thailand.
Mr Srettha said on Thursday that he held talks with Tesla chief Elon Musk during his visit, and they discussed the electric vehicle (EV) industry.
Thailand, Asia’s fourth-largest automobile assembly hub, has been offering incentives to EV and battery makers while also providing tax cuts to local EV buyers.
Mr Srettha, who is attending the 78th United Nations General Assembly (UNGA78) in New York, said he spoke with Mr Musk about Tesla and his rocket and satellite company SpaceX, including its internet venture Starlink.
“I am impressed with the advance the group has made for humanity, and we share a common view of the future for a cleaner world. We look forward to further discussions,” Mr Srettha, a former property tycoon, said via X, formerly Twitter.
In a statement, the Thai government said Mr Srettha told Mr Musk via a video conference that his administration was ready to support investment proposals within the nation’s existing incentive framework.
“Tesla praised Thai human capital, which was suitable for investment,” the statement said.
Automakers with plants in Thailand include Toyota and Honda. The country produces about 1.5 million to 2 million vehicles annually, of which about half are exported.
EVs have been steadily gaining traction in Southeast Asia, a market dominated by Japanese carmakers.
EVs accounted for 6.4% of all passenger car sales in the region in the second quarter, up from 3.8% in the first quarter, Counterpoint Research data show.
Around half of all regional EV sales are from Thailand, followed by Vietnam and Indonesia, with Chinese carmakers like BYD leading by a wide margin.
Mr Srettha said on X that he had also met with representatives from Google.
“I was pleased to hear that Google has made Thailand workers gain 5 days of productivity annually as well as the exciting news on the success of Google’s cloud-first concept in many countries,” he said.
“I’m sure that the concept would also be very beneficial for the advancement of our economy. I hope to have a more insightful conversation at the upcoming Apec Economic Leaders meeting in November,” he posted.
The PM also met with representatives of Microsoft and Microsoft Thailand.
“Great discussion of the exciting future of cloud and opportunities for Thailand. Look forward to seeing more public-private collaboration in the near future!” he posted on X.
Mr Srettha also said on X that he has a friend who is a high-level executive at Goldman Sachs, a leading global investment banking firm, and they had a chance to have breakfast together.
The prime minister said he told his friend that Thailand is open to businesses and investors and that he wants international financial institutions to connect with Thailand in every dimension.
“Goldman Sachs will look into the possibility of setting up a financial institution in Thailand,” he said.
Mr Srettha went on to say that he also met with executives of Estee Lauder and invited them to invest in Thailand.
Estee Lauder also inquired about seaweed in Thailand as it is used as an ingredient in the production of cosmetics, Mr Srettha said, adding that the company will also consider setting up a production plant in the kingdom.
Government spokesman Chai Wacharonke said Mr Srettha also had a bilateral meeting with South Korean President Yoon Suk Yeol during his UNGA78 attendance.
The prime minister was pleased with the first official meeting with the Korean president and hailed close and cordial relations between their respective nations, especially ties at the people-to-people level, Mr Chai said.
Both parties discussed issues of mutual interest and expressed a will to tighten bilateral relations as strategic partners.
The spokesman said the PM called for a regular exchange of high-level visits and extended his invitation to the president and his spouse, asking them to visit Thailand.
Concerning economic cooperation, the two leaders agreed to accelerate negotiations on the Economic Partnership Agreement (EPA).
They also discussed economic cooperation in soft power, space, nuclear power, startups, EVs, virtual banking, and investment opportunities for South Koreans in Thailand.