The Prime Minister gave a special speech emphasizing Thailand’s openness to the business sector.

Bangkok, The Prime Minister gave a special speech at AMCHAM's Annual General Meeting, emphasizing Thailand's openness for the business sector, highlighting 3 issues: "Sustainability - Strengthening Alliances - Driving the Digital Economy" to drive Thai-US trade and investment.

Mr. Settha Thavisin, Prime Minister and Minister of Finance Was the keynote speaker at the annual general meeting of the American Chamber of Commerce in Thailand (AMCHAM's Annual General Meeting) under the topic "Thailand's Trajectory : The Future is Bright"

The Prime Minister expressed his sincere congratulations on the opportunity to attend the 2023 AMCHAM Annual General Meeting, emphasizing that The government gives priority to promoting economic policies as a priority. It is also ready to promote Thailand's proactive participation with international friends. The government has already taken part in promoting economic cooperation with other countries during the UN General Assembly (UNGA) meeting at New York City, United States, last September, with the United States considered to be Thailand's major trading partner. It is also ranked 3rd in investment. With more than US$1.1 billion invested last year, the Prime Minister hopes to increase these figures even more in the years to come, he stressed. “Thailand is open for business. And now is the time to invest in Thailand.”

Then the Prime Minister Answering questions from attendees about what opportunities Thailand has for US businessmen, he said that the government has a vision that is open, sustainable, and inclusive, based on 3 important issues that make Thailand cooperate with US businesses as follows:

The first issue: Sustainability is at the heart of operations in every sector. Through green economy initiatives and transition to renewable energy. Thailand is making a determined effort to achieve the goal of carbon neutrality by 2050. Thailand is ready to support investment and knowledge exchange from the United States. In the field of alternative energy Hydrogen technology energy storage system including capture technology utilization and carbon storage (CCUS), along with inviting business groups to become Thailand's modern partners. which will be important to drive sustainable growth From the semiconductor manufacturing sector advanced agriculture biotechnology to electric vehicles (EVs), while in terms of finance for sustainability The government is also looking to issue more Sustainable Bonds (SLBs), and welcomes U.S. investors. as part of the organization's sustainable development (ESG) and further commitment to the climate.

The Prime Minister said that the second issue Creating collaboration with partners The government will conduct proactive diplomacy and link alliances. both regionally and globally and to improve regional connectivity. The government plans to develop Thailand's infrastructure. For example, last week the Cabinet approved the study design and implementation plan for the LandBridge project, a southern economic bridge connecting Ranong province on the Andaman Sea side with Chumphon province on the Gulf of Thailand. It is considered a large project under the concept “One port, two sides” that will help reduce travel time through the Malacca Strait. Increase Thailand's logistics capabilities By inviting US investors Also join this project.

The Prime Minister said the government also hopes to accelerate the negotiation of Free Trade Agreements (FTA) with major economies to expand Thailand's export market. It also emphasizes Thailand's commitment under the Indo-Pacific Economic Cooperation (IPEF) framework, where Thailand will work closely and tirelessly with the United States and other IPEF partners to strengthen supply chains. Increase trade and investment opportunities For the third point Growth through the digital economy Thailand has a rapidly growing digital ecosystem. and has been driven by an increasingly technologically savvy population. Future-focused digital economy strategy and strategic location in Southeast Asia The government aims to strengthen this ecosystem through the use of several innovative policies and measures. Including the participation of the private sector that will take place during the APEC Economic Leaders Week (AELW) this November. will help develop that vision.

The Prime Minister said Thailand has made great progress in business and technology over the past several years. It is famous for its flexible manufacturing sector. There is quality infrastructure and connectivity, e-commerce, a growing digital economy. and skilled workers We look forward to working further with AMCHAM members and other U.S. businesses to leverage technology, know-how and other resources to support the growth of the digital ecosystem. Both in terms of investment and personnel skill development.

The Prime Minister said that this year Thailand and the United States celebrate 190 years of diplomatic relations. which asks both sides to exchange views together for the benefit and prosperity of our people. The Prime Minister mentioned the phrase “Trade flies the flag” reflecting the Thai-US relationship that is mainly focused on trade. Since its inception which is nearly two centuries old Since the Treaty of Amity and Commerce in 1833 until the present The two countries' economic ties remain strong and thriving, with AMCHAM able to serve as an important change agent for greater economic connectivity. Everyone can play a constructive role as “Trade Ambassadors”, helping others in trade and investment, as well as suggesting ways to create new cooperation.

“Now is the time to invest in Thailand. which Thailand is open and ready to be a reliable partner It can be a diverse and flexible supply chain. It is a sustainable Thailand. Join forces to create great opportunities together. Ready to believe that Together we can move towards a bright future and share prosperity. As the two countries developed into closer allies, and become a more comprehensive alliance,” the Prime Minister said.

Source: Thai News Agency