Japanese businesses have shown interest in expanding investments in Thailand amid concerns over the impact of the US-China trade war, which has caused some companies to consider a production facility relocation plan, says the Board of Investment (BoI).
A number of business sectors ranging from automotive and semiconductors to beverages are among the target investments.
The BoI announced investment updates yesterday, following its roadshow in Tokyo between Feb 19-21.
"Officials met company representatives from many industries, including petrochemicals, plastics, food, digital technology and logistics," said Narit Therdsteerasukdi, secretary-general of the BoI.
"Some of them said they wanted to move out of China to avoid the impact of the trade war."
The board has held discussions with automotive manufacturers on their investments in Thailand and it continued these talks during the Japan visit.
According to the BoI, Isuzu Motors is planning to produce electric pickups at its factory in Thailand, primarily for export.
The company first plans to export battery-run pickups to Norway this year.
Isuzu is in the process of developing its automotive technologies from internal combustion engine (ICE)-based to electric mobility, said Mr Narit.
Other Japanese automakers also want to continue their investment in Thailand. Mitsubishi Motors is planning to launch new models of hybrid electric vehicles (HEVs) and will produce battery EVs here in the second half.
In the semiconductor sector, Toshiba Electronic Device and Storage, Minebea-Mitsumi and Rapidus are interested in investment projects in Thailand, said Mr Narit.
Suntory Group also plans to expand its investment in Thailand, focusing on healthy drinks and environmentally-friendly packaging.
It aims to use 100% green products by 2030.
Thai authorities are satisfied with the latest roadshow held in Tokyo, which was led by Pichai Chunhavajira, a deputy prime minister and chairman of the BoI's board.
They met representatives from 400 firms in the Japanese capital during the three-day trip.
