ASEAN integration may win more Japan capital

Thailand is hoping the upcoming economic integration within Southeast Asian will persuade Japan to invest more in the country. Thailand and nine other regional countries – collectively known as the Association of Southeast Asian Nations (ASEAN) with combined population of over 600 million – will start a new economic bloc known as Asean Economic Community at the end of 2015. Thai Prime Minister Prayuth Chan-ocha said Thailand has been the region’s major production base for Japan for over three decades during which Japanese companies have enjoyed investment privileges worth more than 3.2 trillion baht ($94.59 billion). “I believe that from 2016, trade and investment between Thailand and neighboring countries will be more active,” said Prayuth. “With Thailand as the transportation hub that connects with other ASEAN [nations], we would like to invite more Japanese businesses to be Thailand’s partners and this government will ensure special investment programs [for all].” (WSJ)