Government asked Japan to support Thai technological industry

BANGKOK, Oct 19 (TNA) -- The Thai government invited Japan to support the technological industry of Thailand while the Board of Investment (BoI) developed an economic partnership with Japan's Hamamatsu city. Witnessing the signing of the partnership memorandum by the BoI and Hamamatsu mayor Yasutomo Suzuki, Industry Minister Atchaka Sibunruang said BOI and Hamamatsu city agreed to reciprocally promote investment and on the occasion she invited Japanese investors to take part in developing the Thai economy. In the past few years, Thailand was shifting from labour-intensive industries to the manufacturing of products based on innovation and technologies to increase its competitiveness and upgrade its economy. She referred to the manufacturing of automobiles, auto parts, electrical and electronic products and environment-friendly chemical products. Japan is the biggest investor in Thailand for over two decades. In 2014, Japanese investment formed 35% of foreign investment in the country. Most of its investment goes to the production of automobiles and auto parts, followed by the manufacturing of machines, metal parts, and electronic and electrical products. (TNA)