Transport Ministry woos Japanese firms to invest in mega-projects

Unveiled in February by Prime Minister Srettha Thavisin, the initiative aims to elevate Thailand into a global hub in tourism, wellness and medical, agriculture and food, aviation, logistics, future mobility, digital economy, and finance.

Suriya said the priority is on five mega-projects involving Thailand’s transport infrastructure, namely the land-bridge project in Chumphon and Ranong provinces, the nationwide dual track railway project, and the development of three international airports: Suvarnabhumi, Don Mueang, and Phuket.

Suriya on Wednesday met with Kuroda Jun, president of JETRO Bangkok office, who introduced the new batch of executives of the Japanese Chamber of Commerce in Bangkok that assumed office on April 26.

After the meeting, the minister said both sides discussed Thailand’s investment opportunities and the economic outlook for the second half of the year.

“We thanked JETRO Bangkok for its role in publicising Thailand’s investment opportunities and economic environment to Japanese companies in the past several years,” he said. “The ministry underscored to JETRO Bangkok PM Srettha’s policy of improving Thailand’s ease of doing business to welcome foreign investment.”

Suriya said the meeting also discussed ongoing projects under the ministry and how they would help boost the economy, such as the 20-baht cap on fares of all electric trains in Bangkok, the double-deck expressway to ease traffic congestion on Rama IX Road.

Meanwhile, the Japanese Chamber of Commerce in Bangkok predicted that Thailand’s economic diffusion index in the second half of the year would bounce back to 9 from negative 11 in the first half, and negative 17 compared to the same period last year.

This is largely due to the fast recovery of the tourism industry, continued expansion of exports, and the government’s economic stimulus measures, it said.

It also predicted a 23% increase in investment related to factories and machinery by Japanese businesses in Thailand this year, due to the Thai government’s investment promotion policy.