US top envoy to promote American investment in Thailand

BANGKOK, April 12 (TNA) - US Ambassador to Thailand Kristie Kenney has confirmed that American investment will continue in Thailand with the support of the US government and the US Chamber of Commerce. Thai Industry Minister M.R. Pongsvas Svasti told reporters of the US top envoy's confirmation, after his meeting with the US ambassador in Bangkok Thursday, saying that the US top envoy acknowledged that American investors are confident in Thailand, thanks to the Kingdom's sound infrastructure including roads and airports, and are also impressed with friendly Thai people. According to the US top envoy, the US Embassy in Bangkok will help publicize Thailand’s potential as a business center in Southeast Asia and the country's industrial development in the lead-up to the formation of the ASEAN Economic Community (AEC) by 2015. M.R. Pongsvas said that, in response to the US ambassador's inquiry about flood-prevention plans at Thai industrial sites in the wake of a flooding crisis late last year, he informed the US top envoy that about 60 per cent of Thailand's flood-affected industrial plants have been recovering and some flood prevention dykes have been 25 per cent complete; while others have been 10 per cent built to protect the industrial sites. According to the Thai industry minister, US investment were the third largest in Thailand in the first quarter of this year and the Unites States has recognized Thailand’s strength, particularly in the automobile industry. The Thai minister revealed that he also promoted US investment in rubber-related industries in the Thai Northeast, near the Thai-Lao border, and in an industrial estate in Namphu district of Thailand's central Kanchanaburi province to supply materials to the Dewei industrial site in Myanmar, set to be opened in the near future. The minister said that he also proposed US investment in the local furniture, food and garment sectors and in Chiang Khong of Thailand's northern Chiang Rai province. (TNA)