The Thailand Board of Investment (BOI) has inked a Memorandum of Understanding (MOU) with Japan's Wakayama Prefecture, focusing on increasing investment opportunities, extending support to Small and Medium-sized Enterprises (SMEs), and fostering the exchange of policy information between Thailand and Wakayama prefecture.

Presently, the collaboration between Wakayama and Thailand boasts 12 companies from the Prefecture who have invested in Thailand. According to the MOU signing ceremony, Mr. Kishimoto Shuhei, Governor of Wakayama Prefecture, led a delegation of Japanese entrepreneurs from Wakayama to participate in the BOI's investment promotion activities. These activities included a seminar on Thailand's investment policy and incentives, a trade exhibition, and business matching.

In addition, this collaboration takes on heightened significance due to approximately 6,000 Japanese companies currently operating in Thailand, primarily in manufacturing, trade, and services.