Thailand BOI Expects Cooperation Agreement with JETRO to Boost Japanese Investments in Thailand and to Build Resilient Supply Chains

A Memorandum of Cooperation (MOC) signed today in Bangkok between the Thailand Board of Investment (BOI) and the Japan External Trade Organization (JETRO) will help to further promote investment from Japanese companies in Thailand and the development of more resilient supply chains in industry sectors including Bio-Circular-Green (BCG) activities, according to the BOI.

“We believe that this MOC capitalizing on the broad convergence existing between Japan’s Green Growth Strategy and Thailand’s BCG agenda will ensure a significant increase in investments by Japanese companies in Thailand’s BCG sectors. Thailand’s ample supply of bio-based raw materials, and its strong human resources, research capability, infrastructure and logistics make it the right location in this region for such investments,” BOI Secretary General Ms. Duangjai Asawachintachit said after the signing ceremony.

The signing of the agreement was witnessed by H.E. HAGIUDA Koichi, Minister of Economy, Trade, and Industry of Japan, and H.E. Supattanapong Punmeechaow, Deputy Prime Minister of Thailand, who met in Bangkok for bilateral talks.

The MOC aims to ensure the dissemination of information about the Thai government’s investment promotion policies and potential investment opportunities in Thailand to Japanese companies and to encourage Japanese companies to invest in sectors using advanced technology and in scaled-up research and development. The BOI and JETRO will also cooperate in providing hands-on support and business matching service to individual companies in order to ensure the success of participating investment projects.

Investment by Japanese companies ranks first among all foreign direct investment (FDI) in Thailand. Japanese investments have played a critical role in Thailand’s many key industrial sectors such as automotive, electronics and chemicals. BOI and JETRO have a long shared history of promoting investment and economic cooperation between the two countries.

“We look forward to further strengthening our co-operation with JETRO and we are committed to making Thailand the most preferred investment destination for Japanese companies in the region,” the BOI Secretary General added.