Thai PM: Japan to support rehabilitation, long-term flood prevention

Sunday, 20 November 2011 By  MCOT

BALI, Nov 18 - Thai Prime Minister Yingluck Shinawatra on Friday said her Japanese counterpart Yoshihiko Noda was satisfied with the Thai government's effort to restore flood-ravaged industries and stood ready to support the kingdom on its rehabilitation and long-term flood-prevention plans.

The Thai premier told local media following bilateral talks with the Japanese leader on the sidelines of the 19th summit of the Association of Southeast Asian Nations (ASEAN) on the Indonesian resort island of Bali Nov 16 to 19.

Ms Yingluck said she informed Mr Noda of the Thai government's plan to salvage flood-hit industries to restore confidence among Japanese investors.

"Overall, the Japanese premier is satisfied and ready to support our rehabilitation work and flood-prevention plan," Ms Yingluck said. "I proposed that a Thai-Japanese joint committee be set up and asked Japan to send experts to work out flood-prevention measures with Thailand."

Ms Yingluck added Thailand would facilitate consular services for the Japanese and importing machines for rehabilitation works to restore confidence as soon as possible.

The Thai premier said she believed that Japanese investors continue to be confident in Thailand as the country cooperates as needed.

Ms Yingluck said she hoped that Japan would continue to play a major role in future investment in Thailand and ASEAN, in particular in infrastructure investment.

More than 400 Japanese companies were shut down due to flooding at seven industrial parks, forcing the factories to halt production, affecting the supply chains of Japanese auto and electronics makers across the globe.

The Japan Times earlier reported Thailand accounted for about 3.2 per cent of Japan's cumulative foreign investment in the past two years, the second-largest after China's 12.6 per cent among Asian nations and compared with 2.7 percent of the five-year total, according to data from Credit Agricole and the Finance Ministry.

The Japanese newspaper quoted the Thai Board of Investment as saying Japanese direct investment in Thailand jumped 35 per cent to about Bt100 billion in 2010, led by the auto, metals and machinery industries.

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