Eastern Economic Corridor Office (EECO) Secretary-General Chula Sukmanop has affirmed that no foreign manufacturers will migrate from Thailand, stating that the country remains Southeast Asia’s top manufacturing base for various industries and continues to attract foreign investors.
Chula’s comments came in response to an unconfirmed report suggesting that Isuzu Motors, a Japanese automaker, plans to relocate its production facility from Thailand to Indonesia due to declining sales. However, Isuzu’s representatives in Thailand have not confirmed the report, and there has been no official announcement from Tri-Petch Isuzu Sales Co Ltd.
Chula acknowledged that the transition to a new government might impact foreign companies’ investment decisions in specific industries. Nevertheless, he highlighted that investors from China, Japan, and India have expressed interest in major sectors such as medical, pharmaceutical, electronics, and electric vehicles.
To seek future investment projects, EECO representatives are scheduled to travel to France this month to discuss opportunities with local companies, particularly in aircraft manufacturing, aerospace, and aircraft maintenance.
Chula added that the EECO also plans to utilize tax incentives and other privileges to entice potential investors to move to Thailand.
Chula noted, however, that a potential delay in forming the government until August could impact certain measures, such as determining appropriate rental rates within the Digital Park Thailand (EECd) in Chonburi’s Si Racha district. He highlighted the need for the new government to intervene and set rental rates that are conducive to attracting entrepreneurs, given the rising land prices in Si Racha. (NNT)