The dream of electric vehicles could depend on Japan

The dream of electric vehicles could depend on Japan

PM to use Apec meeting to promote security

Prime Minister Prayut Chan-o-cha delivers a speech at the 27th International Conference on the Future of Asia in Tokyo on Thursday. (photo by AFP)

Thailand can become the world’s largest electric vehicle production hub with support from Japan, Prime Minister Prayut Chan-o-cha says at the 27th International Conference on the Future of Asia hosted by Nikkei Inc. , also known as the Nikkei Forum, in Tokyo on Thursday. .

He said Thailand would use all the resources at its disposal to upgrade the country’s basic infrastructure, especially in the digital technology and transportation sectors, to enable investment in the Eastern Economic Corridor, which the government envisions it as a hub for high-tech industries.

Thailand aspires to be a global hub for EV-related products, which the government says will help the country achieve its goal of becoming a carbon-neutral economy by 2050 and achieving net-zero emissions. by 2065.

At the forum, General Prayut said the goal could be achieved with support from the Japanese government and companies in the form of investment and technology transfer.

Japan is Thailand’s second largest trading partner and one of the main sources of foreign investment, with around 5,000 Japanese companies having bases in the kingdom.

As well as calling for more Japanese investment, the prime minister urged Tokyo to help Thai companies looking to expand into Japan.

For example, he said, many Thai companies are keen to explore the renewable energy sector in Japan and share their expertise in the field.

The forum came as Thailand prepares to host the Asia-Pacific Economic Cooperation (Apec) summit later this year, which will be preceded by a series of ministerial meetings that will set the agenda for the leadership summit.

General Prayut admitted that hosting the Apec summit would be a challenge, especially as the world is just beginning to emerge from the Covid-19 pandemic and the Russian-Ukrainian war is ongoing.

“The summit should be a stage where all opinions on the global economic recovery should be heard,” he said.

“Given the circumstances, it is not an easy task to do, but we must move forward to achieve peace and economic growth in the region.”

The Prime Minister pledged to use the summit to find a solution to many of the region’s problems and to restore prosperity and security in a lasting way.

He said that all members of the Association of Southeast Asian Nations hoped that the Russian-Ukrainian conflict would end soon and that Thailand was committed to providing humanitarian aid to Ukraine. The war is affecting daily life beyond the war zone as it has caused food and fuel prices to skyrocket, he said.

General Prayut also shared three things he thinks Asia can do collectively to ensure peace and security in the region.

“First, we need to regenerate economic growth by keeping markets open and inclusive,” he said.

“Sustainable economic growth is only possible when we are able to adapt to any disruption and uncertainty in a timely manner and when regional and global supply chains are both strong and resilient and still functioning,” added the Minister. General Prayut.

“Thailand will improve its business environment to facilitate trade and investment to further increase its competitiveness.

“The country will ensure a stable, predictable, innovative and conducive environment for business owners and investors,” he said.

“Secondly, we must continue to support the multilateral system because no country can meet these challenges alone,” he said.

“Third, Thailand believes that economic recovery must go hand in hand with sustainability.”

General Prayut met Japanese Prime Minister Fumio Kishida on Thursday for the second time in a month. Mr Kishida visited Thailand on May 2 and offered a 50 billion yen (13.45 billion baht) loan to help fund Thailand’s economic recovery from Covid-19.

General Prayut also met with the Japanese private sector to strengthen their confidence in Thailand and affirm the government’s policy of supporting foreign direct investment.

Speaking after meeting Mr Kishida, General Prayut said the government was delighted that the Japanese government was starting to accept fully vaccinated Thai tourists. He also invited more Japanese tourists to visit Thailand.

He said Mr Kishida was pleased to see Thailand and Japan cooperating to promote tourism.

The prime minister said Thailand was ready to welcome Mr Kishida, who will attend the Apec summit in the kingdom in November.

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