Japanese SMEs head to Thailand under joint initiative
More than 700 Japanese companies under a Thailand-Japan joint effort to promote small and medium-sized enterprises have started real investment in Thailand this year, says Nangnoi Wetayapong, director of the Bureau of Strategies Management under the Department of Industrial Promotion. The initiative is part of a project to bring Japanese SMEs from major prefectures to start and expand investment in Thailand. The expectation is for billions of baht in investment to pour into the Thai economy, Mrs Nangnoi said. SMEs in 17 of Japan’s 47 prefectures have signed a memorandum of understanding with the Industry Ministry over the past few years to work together in bringing more Japanese SMEs to invest in Thailand. Thailand’s DIP and the Japan International Cooperation Agency are cooperating to support Japanese SMEs seeking investment opportunities abroad.