BANGKOK, 24 September 2012 – Minister of Industry M.R. Pongsawat Sawasdiwat has disclosed that Japan has shown interest in investing in the upstream steel industry in Thailand while promising to use environmentally-friendly technologies.
M.R. Pongsawat said in his statement after meeting with Japanese Ambassador to Thailand Seiji Kojima that a number of Japanese investors are keen on investing in the Thai upstream steel industry. On the other hand, despite the Japanese interest and assurance that only green technologies will be used, the minister admitted that the expansion of this industry has led to public protests over the imminent environmental impact.
As little progress has been made in the investment plan for Thailand, an idea has been raised for the country to act as an agent for Japanese investors seeking opportunities in Myanmar’s upstream steel industry.
Meanwhile, the Japanese Ambassador has expressed his gratitude to the Thai government for keeping the flood away from various industrial sites this year, especially Saharattananakorn Industrial Estate where many Japanese plants are located.
Flood walls around these sites have already been reinforced, which M.R. Pongsawat said the Japanese investors are very pleased with. The ambassador also assured that more Japanese nationals will be investing in Thailand. The value of investment promotion sought by Japanese firms during the first 8 months of this year was as high as 300-400 billion baht.