French firms keen on investment
France and Japan have expressed interest in participating in Thailand’s infrastructure development and investing in high-technology and innovative products.
According to Deputy Prime Minister Somkid Jatusripitak, who yesterday met French ambassador Gilles Garachon, France is keen to invest in infrastructure and the high-tech sector, which the government is heavily promoting.
Last November, the cabinet endorsed a plan to attract investment in 10 targeted industrial clusters.
On top of generous tax incentives, the government has established a 10-billionbaht fund to support i nvestment in 10 industrial clusters focused on high technology and innovation.
The 10 industries are next-generation cars; smart electronics; affluent, medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; and medical services.
The cabinet last December approved action plans for 20 big-ticket infrastructure projects worth a combined 1.79 trillion baht, part of the strategy to kickstart an ambitious development plan for 2015-22.
The government hopes to start construction of the projects next year, helping to boost economic growth by 1% in 2016.
Mr Somkid said the French embassy will submit a list of interested French companies to him, while the embassy will arrange a joint meeting between Thai authorities and French companies soon.
Mr Garachon asked Mr Somkid and his economic team to visit France this May or June, while France promised to arrange matchmaking between Thai and French firms.
Mr Somkid said the French ambassador also urged the government to resume ThaiEU Free Trade Agreement talks as soon as possible.
Negotiations for the Thai-EU FTA were formally launched on March 6, 2013. The goal was a comprehensive FTA covering tariffs, non-tariff barriers and other traderelated issues such as services, investment, procurement, intellectual property, regulatory issues, competition and sustainable development.
However, talks were suspended after the May 22, 2014 coup.
Last June, the EU said it would delay signing an agreement on closer economic and political ties and demanded a swift return to democracy.
In a separate development, Norio Yamaguchi, vice-chairman of the International Friendship Exchange Council and chief executive and president of Ajinomoto Co, said yesterday after a meeting with Mr Somkid that the Japanese intend to invest more in agricultural processing, food, biotechnology and renewable energy.
Mr Somkid urged Japanese investors to speed up their decisions, pledging government support for their investment.