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24 September 2009

US car makers to raise investment in Thailand

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Three US car manufacturers have planned to increase their investments in Thailand, Kiat Sithi-amorn, a Thai trade representative, said on Wednesday in an interview with local media.

The three corporations includes Ford Motor Company, General Motors and Chrysler as each has the expansion plan in Thailand worth at least 10 billion baht ($297.53 million), said Kiat, Thai language news agency Thai Rath Online reported.

Apart from the car makers, soft-drink giant Coca-Cola Company, will also put at least one billion baht ($29.75 million) more to expand the company's business operation in Thailand, Kiat said.

Also, Cargill has expressed its interest to establish a regional center to distribute agricultural products in this region, Kiat added.

Thailand's Board of Investment organised a luncheon roundtable, where chief executive officers of top US firms had a chance to discuss about investments in Thailand directly with the Thai Prime Minister, Kiat said.

Thai Prime Minister Abhisit Vejjajiva went to New York to attend the 64th Session of the UN General Assembly and the G20 Summit in Pittsburgh from September 21 to 27. He will join the G20 Summit as the chairman of the Association of Southeast Asian Nations.

As Prime Minister Abhisit has signaled that the Thai government will keep supporting foreign investments, US investors, whose operations have already existed in Thailand, are more confident to invest, Kiat said. 



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