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Despite 2011 Floods, Japanese Companies Will Remain

Staff Reporter 08.03.2012 21:21
Many industrial estates were flooded during 2011 foolds.

Many industrial estates were flooded during 2011 foolds.

The Thai Minister of Industry, MR Pongsavas Svasti, announced that almost all the Japanese companies recently polled confirmed that they would keep their factories in Thailand, and will in fact increase their investment here, despite last year’s devastating floods.

MR Pongsvas said Japanese investors' confidence in Thailand is improving. Only 2-5% of them said they were considering moving their production bases to other countries.

The minister made the comment after meeting with a Japanese official to discuss details of the planned trip to Japan by Prime Minister Yingluck Shinawatra. Ms Yingluck is visiting Japan early next month.

Thailand’s  Board of Investment is also planning a roadshow and investment seminars: in Tokyo on March 7, and in Nagoya on March 8, the minister said.

The prime minister’s trip is aimed at reassuring Japanese investors that Thailand is still attractive for investment. Ms Yingluck will also take the opportunity to provide information on the government’s water management and flood prevention plans to Japanese investors, and to assure them that there will be no recurrence of last year’s devastating flood, he said.

The Yingluck government has approved the expenditure of over THB 350 Billion for flood prevention works, a good portion of which will insure the defense of the major industrial parks in the Central plains provinces north of Bangkok.

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