France eyes expanding investment in Thailand

BANGKOK, June 25 (TNA) - French business operators have expressed their interest in expanding investment projects in Thailand, including those in the Eastern Economic Corridor (EEC). Industry Minister Uttama Savanayana, who is accompanying Thai Prime Minister General Prayut Chan-ocha during his ongoing trip to the United Kingdom and France from June 20 to 25, told TNA of the positive prospect after a meeting with a group of business operators in Paris on June 24 (local time), chaired by the Thai prime minister himself. Uttama acknowledged that leading French business firms now actively plan to expand their investment projects in Thailand, especially those in targeted sectors in the Thai government-supported EEC and Smart Cities, namely railway, future automobile, new forms of energy, agricultural, bio-economic, educational and tourism projects, citing Vinci Group, Transdev and Engie companies as examples. According to the minister, his ministry will soon, thus, work together with the Federation of Thai Industries (FTI) and the Mouvement des entreprises de France (MEDEF), in which more than 750,000 diversified French businesses are members, to invite a French business delegation to visit Thailand within this year to explore their investment opportunites. "The French private sector wants to learn more detailed information on investment in Thailand, including regulations and processes on joint ventures, incentives and competitiveness", the minister said. The minister noted that the French delegation can also explore their trade and investment opportunities related to neighboring Cambodia, Lao PDR, Myanmar and Vietnam, known as the CLMV group, through such the regional frameworks as the ASEAN Economic Community (AEC) and the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS). The minister pointed out that France is the world's 7th largest economy and has had advanced technologies in aviation, railway transport and alternative energy, with its investment funds totally about 52 billion euros worldwide, but French investment in Asia now accounts for only 7.6 per cent and its investment in Thailand alone stands only about 228 million euros. (TNA)