Japanese investment in Thailand doubles during Jan-May 2012

OSAKA, Japan, June 29 (TNA) - Thai Industry Minister M.R. Pongsvas Svasti has acknowledged that foreign direct investment (FDI) in Thailand has kept steadily growing, with FDI from Japan alone doubling in the first five months of this year, compared with the corresponding period of last year. M.R. Pongsvas, who is leading a Thai business delegation for an investment roadshow in Japan this week, said in Osaka on Thursday that most Japanese investors appeared to be confident in flood prevention measures in Thailand and Japan Bank for International Cooperation or JBIC found in its recent survey that over 70 per cent of Japanese investors remained confident in Thailand. According to the industry minister, the value of international investment projects proposed for promotional privileges in Thailand during the first five months of this year soared by 45 per cent year-on-year, with those from Japan alone reaching about 519.9 billion yen. During the roadshow, the Thai industry minister, meanwhile, told Japanese investors that Thai industries have been recovering from flood damages and are preparing for the formation of the ASEAN Economic Community (AEC) by 2015, when Thailand intends to become a regional production base of the 10-member Association of Southeast Asian Nations (ASEAN), backed by its good supply chains, particularly for the automobile, electronic and agricultural sectors and the country's plans on further developing logistics and double-track rail systems to link regional capitals and on expanding regional transportation networks to link the Thai North and the Thai South, as well as the Thai East and the Thai West. Besides, the Thai and Myanmar governments are jointly developing a deep-sea port in Myanmar Dawei City, which will be another regional gateway to transport cargos through the Indian Ocean and there will be a land bridge to also link Myanmar's Dawei Port and Thailand's Laem Chabang Port in the eastern Chonburi province. In addition, Thailand is preparing its National Single Windows system, which finishes import and export procedures in one day. (TNA)