Commerce Minister Pichai Naripthaphan is calling on Japanese businesses to invest in Thailand, promising to provide full support from the government and the ministry.
Mr Pichai on Saturday met representatives from the Japanese Chamber of Commerce and Industry, Japanese investors, the Japan External Trade Organization (Jetro), the Japan International Cooperation Agency (Jica) and leading Japanese companies at the Thai Embassy in Tokyo.
The economic and trade relationship between Thailand and Japan has been long and fruitful, he said.
In 2023, Japan was Thailand’s third-largest trading partner and remains a key foreign investor in the country.
Japanese investors have been significant contributors to Thailand’s industrial foundation, particularly in the automotive and electronics sectors, for over 50 years.
Currently, Japan tops cumulative foreign investments in Thailand, accounting for one-quarter of all transactions.
Mr Pichai also expressed gratitude for Japanese investors’ confidence in Thailand’s growth potential and business-friendly environment.
He encouraged them to continue expanding their investments, saying the government, under Prime Minister Paetongtarn Shinawatra, and the Ministry of Commerce are committed to supporting them.
Mr Pichai also thanked Jetro for its long-term role in promoting trade and investment in Thailand and extended appreciation to Jica for supporting a project to develop the quality of Thai bananas grown on high hills, enabling them to compete in the Japanese market.
He said a recent procurement contract had secured 5,000 tonnes of bananas, valued at 100 million baht, with expectations for increased future exports.
Mr Pichai and his delegation met executives from NTT Corporation, a global IT services and business consulting company operating in over 50 countries. NTT has plans to invest in Thailand’s data centre industry and expand to meet rising demand.
In addition, discussions were held with Nippon Steel Corporation (NSC), the world’s fourth-largest integrated steel producer. Thailand is NSC’s third-largest investment destination, following the US and India.
NSC executives said further investments totalling tens of billions of baht are under way, with the Thai government and Ministry of Commerce committed to providing full support.
Mr Pichai expressed confidence that the visit to Japan would reassure investors of their concerns and predicted a further inflow of 20–30 billion baht in the near future.
“Japan has reaffirmed its ambition to remain the leading foreign investor in Thailand and the Thai government is ready to provide comprehensive support,” he added.
