Thailand makes efforts to attract foreign investment
Thailand's new Prime Minister Srettha Thavisin on September 29 committed to transforming the country into a major foreign investment destination by pursuing more free trade agreements (FTAs) and expanding manufacturing of both electric and traditional autos.
Tourists visit Ayutthaya Historical Park that covers the ruins of the old city of Ayutthaya, Phra Nakhon Si Ayutthaya province, Thailand. ( Photo: Xinhua/VNA)
Bangkok (VNA) – Thailand's new Prime MinisterSrettha Tha🍸visin on September 29 committed to transforming the country intoa major foreign investment destination by pursuing more free trade agre🌞ements(FTAs) and expanding manufacturing of both electric and traditional autos.
Speaking at a workshop in Bangkok, Srettha said hisgovernment will improve infrastructure and water management, upgrade airportsto boost tourism, expand FTAs to compete with neighbouring countries and makeit easier for companies to hire more foreign workers in Thailand. He said he is making efforts to draw electric vehicle (EV)makers to the country – the fourth biggest auto-assembly hub in Asia, but willnot neglect manufacturing of internal combustion engine cars, to ensure benefits for companies from Japan - the key driver of its car manufacturingindustry for years. Thailand is expected to benefit from the switch to EVs,including through Chinese investments worth 1.44 billion USD since 2020 - bycompanies like BYD and Great Wall Motor. However, he added Thailand will alsosupport traditional car manufacturing which is still important over the next 10to 15 years. The Thai Prime Minister also stressed the need to expandmarkets for Thailand's agricultural goods and to support farmers long ladenwith debt. However, he said there will be no policy of price guarantees fortheir produce as with previous Pheu Thai governments, unless in a time ofcrisis./.
Thai Commerce Minister Phumtham Wechayachai is set to have a meeting with the private sector this week, which aims to boost the country's exports and economic performance in the last quarter.
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Tourists visit Ayutthaya Historical Park that covers the ruins of the old city of Ayutthaya, Phra Nakhon Si Ayutthaya province, Thailand. ( Photo: Xinhua/VNA) 
