Prayut Seeks Japan’s Support To Make Thailand a Global EV Hub

Prime Minister Prayut Chan-o-cha said the government is seeking stronger support from Japan to build Thailand into the world’s largest electric vehicle (EV) production hub.

Speaking at the 27th International Conference on the Future of Asia, organized by Nikkei Inc. in Tokyo, Gen Prayut stated that Thai officials had decided to invest the national resources in digital technology and transport services development to improve the country’s basic infrastructure.

The strategy has been designed to facilitate foreign investment in the Eastern Economic Corridor, expected to be a hub for the region’s advanced industries.

According to the prime minister, Thailand plans to be a global hub for EV-based industry, a goal the country could achieve with strong support from Japan in terms of investment and technology transfer to local plants.

With the industry’s new direction, the government expects to tackle climate change and reaffirm its commitment to combating the issue by reaching its target of carbon neutrality by 2050 and net zero emissions by 2065.

Gen Prayut called on Japan, whose renewable energy sector could help Thai energy companies expand their presence abroad, to invest in the Eastern Economic Corridor and support Thai investors.

The prime minister also discussed the Asia-Pacific Economic Cooperation (APEC) summit, set to take place in Bangkok later this year.

While organizing APEC had been challenging due to the global economic problems caused by the Covid-19 pandemic and the Russia-Ukraine war, Gen Prayut hopes to use the summit to find solutions that will bring economic prosperity and security back to the worldwide community through multiple cooperation and sustainability.

The prime minister also said Thailand and other Southeast Asian countries hope that the Russia-Ukraine war will end soon, reaffirming Thai authorities’ commitment to offering humanitarian aid to the Ukrainians.

The kingdom commemorates 135 years of diplomatic relations with Japan in 2022. Gen Prayut announced that he would meet his Japanese counterpart Fumio Kishida for the second time this month after Japan’s prime minister visited Thailand to offer a 50-billion-yen loan to boost the country’s post-pandemic economic recovery on 2 May.

Also, the government plans to meet with the Japanese private sector to increase confidence in Thailand and reaffirm its support for foreign direct investment.