Bangkok (VNA) – Many foreign investors are looking to move their production base toThailand, according to Kriangkrai Thianukul, vice president of the Federationof Thai Industries (FTI).
The mainreason for their interest in Thailand is the COVID-19 pandemic, which causedmanufacturing facilities in China to shut down and affected the supply chain ofthe industrial sector, he said.
Many companiesare planning to move out of China to reduce future risk and are eyeingcountries in Southeast Asia, he added.
He furthernoted that Thailand is among the top choices as the country has severalseaports to facilitate logistics and the geographical location is at the centreof the region.
Thailand alsohas basic infrastructure for high-tech industries as well as cheap labour, hesaid. The fact that Thailand has handled the pandemic well also proves itsability in dealing with a crisis and helps strengthen investors’ confidence, heexplained.
As Asiansupply chains reshuffle in the wake of the pandemic, the Thai government isfocusing its efforts to attract foreign investors in the medical devicessector, a promising industry in light of the health crisis.
Thailand’s Boardof Investment (BoI) aims to set up joint ventures or convince foreign firms tomove their manufacturing base for medical devices to the country.
SonklinPloymee, executive director of industrial linkage development at BoI, said thegroup is focusing on developing the country's subcontracting sector to servenew targeted industries in the future.
Initially, theBoI will focus on the aerospace, medical devices, electric vehicle, smartelectronics and the railway system sectors, she said.
The divisionhas successfully conducted several programmes to assist foreign assemblers andmanufacturers with sourcing high-quality parts and components from Thai smalland medium-sized enterprises.
The BoI plansto hold Subcon Thailand, ASEAN's largest international industrial subcontracting event, between September23 – 26 in Bangkok to facilitate business matching and create a targeted 12billion THB (nearly 400 million USD) in value from 8,000 business matches./.
The mainreason for their interest in Thailand is the COVID-19 pandemic, which causedmanufacturing facilities in China to shut down and affected the supply chain ofthe industrial sector, he said.
Many companiesare planning to move out of China to reduce future risk and are eyeingcountries in Southeast Asia, he added.
He furthernoted that Thailand is among the top choices as the country has severalseaports to facilitate logistics and the geographical location is at the centreof the region.
Thailand alsohas basic infrastructure for high-tech industries as well as cheap labour, hesaid. The fact that Thailand has handled the pandemic well also proves itsability in dealing with a crisis and helps strengthen investors’ confidence, heexplained.
As Asiansupply chains reshuffle in the wake of the pandemic, the Thai government isfocusing its efforts to attract foreign investors in the medical devicessector, a promising industry in light of the health crisis.
Thailand’s Boardof Investment (BoI) aims to set up joint ventures or convince foreign firms tomove their manufacturing base for medical devices to the country.
SonklinPloymee, executive director of industrial linkage development at BoI, said thegroup is focusing on developing the country's subcontracting sector to servenew targeted industries in the future.
Initially, theBoI will focus on the aerospace, medical devices, electric vehicle, smartelectronics and the railway system sectors, she said.
The divisionhas successfully conducted several programmes to assist foreign assemblers andmanufacturers with sourcing high-quality parts and components from Thai smalland medium-sized enterprises.
The BoI plansto hold Subcon Thailand, ASEAN's largest international industrial subcontracting event, between September23 – 26 in Bangkok to facilitate business matching and create a targeted 12billion THB (nearly 400 million USD) in value from 8,000 business matches./.
VNA
