Japanese Auto Industry Invests in Thailand

Japan's automobile industry is set to invest at least 18 billion baht in Thailand this year, according to Thailand's Deputy Prime Minister Somkid Jatusripitak. Somkid, speaking at the end of a three-day economic and tourism roadshow to Japan, said executives of all of the Japanese auto-related companies he had met had confirmed they would increase investment in Thailand to a value of about 18 billion baht this year. That's about $430 million in U.S. currency by the way.

The projects include a research and development (R&D) center for pickup trucks worth five billion baht, a motorcycle R&D center for Honda worth 800 million baht, an assembly and parts production project of Mitsubishi Motors worth 10 billion baht and a project from tire maker Bridgestone, worth at least one billion baht.

This tells us a couple things. Business investment is beginning to loosen up in many places across the world. Secondly, it tells you that Thailand, like its SE Asian neighbors, is doing an effective jobs of recruiting foreign investment.

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