Thai Prime Minister Srettha Thavisin said on Saturday that Japanese firms in Thailand should make quick decisions about their business operations amid the growing market share of Chinese firms.
Automakers included Toyota, Honda, Nissan, Isuzu and Suzuki, said Srettha, a businessman-turned-politician.
“Of course you are not alone in the world. While others are making quick decisions,” Srettha said, Japanese firms must make some adjustments. A study by an area bank shows that the share of Chinese automakers within the Thai electric vehicle market has recently reached almost 80%.
‘Fall in love with Thailand’: Prime Minister Srettha pursues potential investment in Tesla
‘Fall in love with Thailand’: Prime Minister Srettha pursues potential investment in Tesla
“Thailand will continue to be a base for car exports,” he said, adding that he hopes Japanese automakers, who’ve been producing cars in Thailand for greater than 60 years, will proceed to contribute to the Thai economy.
Thailand is engaging in free trade negotiations with the European Union and the United Kingdom, to which Thailand exports Japanese cars made within the Southeast Asian country, said Srettha, who is targeted on reviving the Thai economy, which continues to be on the recovery path from crisis Covid-19 pandemic.
Srettha is on her first visit to Japan since taking office on September 5.
On Sunday, he’ll hold talks with Japanese Prime Minister Fumio Kishida on the sidelines of a special summit marking the fiftieth anniversary of friendship and cooperation between Japan and ASEAN countries.
