Major Japanese companies confirm Thailand investment plans

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Top management of leading Japanese companies welcomed Thailand’s flood-prevention measures, confirming their decisions to move ahead with planned investment expansion in Thailand, Prime Minister Yingluck Shinawatra said on Friday.

On the last day of her four-day official visit to Japan, the Thai prime minister met ten executives from leading Japanese private companies, including Toshiba, Honda, Toyota, Nissan Motors, Mitsubishi Motors Corporation, Isuzu Motors, Suzuki Motor Corporation, and the Bridgestone Corporation.

Yingluck expressed deep regret to the companies for their flood-related losses from Thailand’s devastating floods last year. She reassured them that Thailand has worked tirelessly to address the problem so that there will be no repeat. She reemphasized Thailand’s appeal as an attractive investment base.

The Japanese executives welcomed the Thai government’s measures regarding water management and claimed they were confident that flooding will not recur.

They were also satisfied with the country’s investment incentives as well as Thailand’s tax measures, the premier said.

The Japanese firms said they will move ahead with their plans to expand their investment stakes in Thailand. Five automakers – Nissan, Honda, Suzuki Motors, Toyota and Mitsubishi Motors Corporation – have investments valued at Bt29.6 billion, according to Yingluck. And Isuzu Motors plans to increase production capacity of pick-up trucks by 100,000 units to 400,000 units with an investment of approximately Bt6.5 billion.

Bridgestone also plans an investment upgrade of Bt20 billion to manufacture tires, she said.