Prime Minister Serttha Thavisin taunted Thailand as the hub of the regional economy with new potential for trade and investment in multifaceted fields.
In his keynote speech yesterday at the APEC CEO summit in San Francisco, Serttha declared that it is now the time to invest in Thailand as the country is fully back in business. “With a stable political climate, we are pushing full steam ahead. Various economic policies and investment incentives are now taking center stage and being vigorously implemented.”
The prime minister, who is attending the Asia Pacific Economic Cooperation Leaders Meeting, reiterated that Thailand attaches great importance to creating an enabling environment that attracts investment, encourages innovation, while fostering collaborations for sustainable growth.
Serttha was also satisfied that the Bangkok Goals on Bio-Circular-Green Economy (BCG), adopted last year by all APEC Leaders, has now become an important guidelines for the APEC members towards the pathway for such actions. “Thailand is pleased to play a leading role towards this landmark document,” he added.
As part of the BCG efforts, he pointed out that Thailand has actively promoted green finance through the issuance of Sustainability-Linked Bonds to stimulate the growth of the Green Bond market, which will be announced next year.
Furthermore, he said that Thailand is focusing on reducing fossil energy use and investing in renewable energy. Last year, he added from the baseline, Thailand was able to cut at least 15% of greenhouse gases in the energy and transportation sectors.
“This will make Thailand the hub for renewable energy. It will also ensure that all companies investing in Thailand in the future have access to renewable energy,” he declared.
Thailand is also championing the development of the EV industry, Serttha said that Thailand’s goal is to establish a comprehensive EV supply chain that includes all types of electric vehicles and components.
The prime minister also invites protection investor to put money in the EV sector as the government will provide investment privileges in the special economic zones, offering labor development courses, and expanding charging infrastructure.
In addition, toward the end of his speech, he said that Thailand is embarking on a mega project to develop a land bridge, connecting the Andaman SEATO to the Gulf of Thailand. “It will considerably reduce the commute time between the Indian and Pacific oceans and mitigate the constraints faced in the area. This is an important project, not just for Thailand, but also for the world. Since this will provide an alternative connecting point between the east and the west,” he concluded.