US carmakers reaffirm Thailand investment and factory upgrade plans
A delegation from 33 US companies presented recommendations as Thailand outlined faster investment approvals and workforce development measures.
Automotive companies represented by the US-Asean Business Council (USABC) have reaffirmed their intention to keep investing and expand in Thailand, including upgrades to factories producing combustion-engine and electric vehicles.
The companies sought government measures to encourage investment, support domestic parts suppliers, reconsider excise taxes and accelerate free trade negotiations. Their proposals formed part of seven sets of recommendations delivered to Prime Minister Anutin Charnvirakul by a delegation representing 33 US companies across seven sectors.
USABC president and chief executive officer Brian McFeeters led the delegation. Government spokesman Ekkapob Pianpises said the meeting covered industry developments, business priorities and opportunities for closer cooperation with Thailand.
Anutin said Thailand aimed to rank among the world's 20 most competitive economies by 2030 and attain high-income status by 2037. Government measures include Thailand FastPass, intended to shorten approvals for eligible investment projects by up to 50%, and the Thailand Skill Bridge programme, which seeks to match workforce skills with industry needs.
The government is also upgrading energy infrastructure and widening clean-energy access through Direct Power Purchase Agreements. It is strengthening governance and transparency ahead of Thailand's accession to the Organisation for Economic Co-operation and Development.
On trade, Anutin said talks with the Office of the United States Trade Representative had produced agreement on key substantive elements. He expressed hope that both sides could reaffirm their commitment to moving ahead with a reciprocal trade agreement. USABC also backed the negotiations.
Thailand welcomed additional US investment in semiconductors, advanced electronics, artificial intelligence and the digital economy, Anutin said. Relevant ministries and agencies would work with USABC and the Board of Investment to follow up on the recommendations.
Other proposals included greater air cargo capacity and development of aviation and defence industries, put forward by the transport, logistics and energy sector.
