TOKYO, 20 April 2012 – Prime Minister Yingluck Shinawatra today delivered a speech during a luncheon hosted by the Keidanren Business Federation and the Japan Chamber of Commerce and Industry (JCCI), for government leaders attending the 4th Greater Mekong Sub-region (GMS) meeting.
The speech was aimed at promoting investment in infrastructure development and highlighting potential gains in intra-regional trade from improvements in land transport.
In her speech, the premier expressed gratitude to the Japanese private sector for their confidence in the Thai economy after last year’s flood crisis. She acknowledged the major disruptions the floods had caused to Japanese businesses.
She elaborated that Thailand has addressed Japanese investors’ concerns by providing 50 billion baht for the setting up of a Disaster Insurance Promotion Fund, which will benefit over 1.54 million households and businesses to be covered by 2.6 trillion baht or about 86 billion US dollars worth of natural disaster insurance.
According to Yingluck, the Thai government’s efforts to boost investor confidence in its flood control plan shows that the country has attached great importance to the investment of small and medium-sized Japanese businesses, which are seen as a driving force for economic growth in the region.
She added that Japan’s public and private sectors have played a key role in strengthening cooperation between the country and the Mekong sub-region and that she hoped to see the transport infrastructure in the sub-region will be mechanism to which the Japan private sector can avail itself in contributing to the economic growth and competitiveness of each country in the region.