Tourists visit Ayutthaya Historical Park that covers the ruins of the old city of Ayutthaya, Phra Nakhon Si Ayutthaya province, Thailand. ( Photo: Xinhua/VNA)
Bangkok (VNA) – Thailand's new Prime Minister Srettha Thavisin on September 29 committed to transforming the country into a major foreign investment destination by pursuing more free trade agreements (FTAs) and expanding manufacturing of both electric and traditional autos.
Speaking at a workshop in Bangkok, Srettha said his government will improve infrastructure and water management, upgrade airports to boost tourism, expand FTAs to compete with neighbouring countries and make it easier for companies to hire more foreign workers in Thailand.
He said he is making efforts to draw electric vehicle (EV) makers to the country – the fourth biggest auto-assembly hub in Asia, but will not neglect manufacturing of internal combustion engine cars, to ensure benefits for companies from Japan - the key driver of its car manufacturing industry for years.
Thailand is expected to benefit from the switch to EVs, including through Chinese investments worth 1.44 billion USD since 2020 - by companies like BYD and Great Wall Motor. However, he added Thailand will also support traditional car manufacturing which is still important over the next 10 to 15 years.
The Thai Prime Minister also stressed the need to expand markets for Thailand's agricultural goods and to support farmers long laden with debt. However, he said there will be no policy of price guarantees for their produce as with previous Pheu Thai governments, unless in a time of crisis./.
