They’ll be more competing for the best Japanese restaurant in Bangkok among other Japanese businesses when the investors start rolling in. At least, that’s what Chairman Kalin Sarasin, Thai Chamber of Commerce, says, claiming that they expect Japanese investors to invest in Thailand once the Thai Government’s Eastern Economic Corridor (EEC) has its timeline is clarified.
Following a meeting in Aug. 22 with Hiroki Mitsumata, President of the Japan External Trade Organization (Jetro), Mr. Kalin says that the Japanese unit stated that they have a lot of investment confidence in Thailand.
Mr. Kalin quoted Mr. Mitsumata, who stated that the latest survey by Jetro on Japanese firms operating in Thailand discovered that about 62% of them have plans to invest more in the country, with a particular focus on the EEC area.
Kalin says that Jetro reaffirmed that Japanese investors are looking to invest in Thailand, both in initial investments and expansion, more importantly, he adds, some new Japanese investors are also interested in investing in the Kingdom. He says that Japanese investors predict that the overall business environment in the second half of 2018 would only continue to improve, while the Japanese firms in Thailand will also be expecting higher exports for the period, particularly with regards to food, electric appliances, electronics and chemicals, which makes it likely that Thailand will be seeing more competitors for the best Japanese restaurant in Bangkok, alongside new electronics and appliances.
Vice-Chairman of Thai National Shippers’ Council, Visit Limlurcha says that Thailand’s rapid development in the field of logistics is key in drawing foreign investment, citing the World Bank’s biennal Logistics Performance Index, where Thailand ranked up from 45th in 2016 to 32nd in 2018, based on the country’s large investments in transport infrastructure and legal reforms.
These numbers meant that Thailand ranked only second to Singapore in the ASEAN region, 7th in Asia, ahead of Malaysia.
Mr. Visit says that Jetro have also pointed out potential issues, like the Laem Chabang port, which has such congestion issues that are affecting operation costs.
In another, separate development, Kyodo reported at the same day that Japanese firms across Thailand are considering the possibility of wage hikes in the country following the Kingdom’s economic recovery.