Govt courts more Japan tech cash

The Commerce Ministry wants Japanese businesses to invest more in high-tech industries, which would see Japan regain its position as Thailand’s leading investor.
Minister Pichai Naripthaphan said a meeting was held on Friday for the first time since he assumed his ministerial position, highlighting the trading partnership between the two countries and discussing ways in which it could develop further.
On Friday, the minister discussed the issue with Keita Ishii, president of the Japan Chamber of Commerce and Industry (JCCI) and executives of leading Japanese companies, including Itochu Cooperation, Kawasaki Heavy Industries (Thailand), Sumitomo Corporation Thailand, Knowledge Creation Technology, Japan Airlines and Toyota Tsusho (Thailand).
“Thailand and Japan have had a long and deep economic and trade relationship, and Japan has always been an important trading partner, with the highest accumulated investment in Thailand, accounting for one in four of all foreign investments,” he said.
The minister invited Japanese investors to invest more in modern industrial supply chains, such as printed circuit boards (PCBs), semiconductor businesses, and digital artificial intelligence. “The government is ready to promote investment from Japan, as Thailand has the potential to produce parts using advanced technology. In addition, Thailand is ready to be a food security hub by being a warehouse and exporting food to all countries in need, including Japan,” he said.
He added that leading Japanese companies had expressed their readiness to invest more in these sectors as well as those in the faculty’s expansion plans, such as hydrogen, green energy and service businesses. In 2023, Thailand and Japan had a trade value of US$55.8 billion, according to the ministry. Exports to Japan, including cars, electronic parts, processed chicken, machines and circuit boards, were worth US24.6bn, with goods imported from Japan worth US$31.1 billion.