Bangkok: "Bhumtham" opened Government House to discuss with investors over 30 leading companies worldwide, aiming to build confidence in investing in Thailand. He confirmed his readiness to improve mechanisms and regulations to align with global rules and develop clean energy mechanisms to support sustainable business operations.
According to Thai News Agency, Deputy Prime Minister and Minister of Interior, Acting Prime Minister Phumtham Wechayachai, chaired a high-level investor meeting to build confidence in investment in Thailand. The meeting was attended by executives from 30 leading global companies representing four target industries: semiconductors and advanced electronics, including printed circuit boards (PCBs), electric vehicles and batteries, digital, and the food and biotechnology industries. All companies have made investments and expanded their investments in Thailand over the past two years, totaling over 550 billion baht, creating over 53,000 jobs.
This discussion aimed to strengthen private sector confidence in Thailand's potential and competitiveness, reaffirming the government's commitment to supporting and facilitating the private sector in conducting business in Thailand. It also provided an opportunity for investors to exchange experiences and opinions on investing in Thailand, facilitating their decision to invest or expand their investment in the country.
Mr. Phumtham welcomed investors, stating that this was a good opportunity to discuss with senior executives from leading global companies with significant investments in Thailand. He also addressed the uncertainty surrounding the US tariffs, which are currently a major global issue. Furthermore, the US announced a new tariff rate, which Thailand is currently facing at 19%. The Thai government recognizes the uncertainty surrounding the economy and global trade rules and is committed to seizing this opportunity to improve various mechanisms to ensure that domestic businesses comply with global rules and mitigate risks impacting the business sector.
The government is committed to enhancing the country's competitiveness and supporting sustainable business growth. This includes regulations that facilitate business operations, developing highly skilled personnel, preparing for clean energy, and negotiating new trade markets with countries around the world. At the same time, Thailand is also enhancing its private sector's access to global markets. Currently, Thailand has 17 trade agreements with 24 countries and is accelerating trade negotiations with several more countries, including the EU, South Korea, and Canada, to enhance the competitiveness of Thai exporters to over 50 countries worldwide.
Mr. Phumtham also mentioned the advancement of clean energy mechanisms to support ESG guidelines. The Thai government prioritizes sustainable business operations in line with ESG guidelines. The company has launched the Utility Green Tariff (UGT1) mechanism, which provides clean energy with certification of renewable energy use. Over 40 companies have already applied for the service, and plans are underway to launch UGT2, which can clearly identify energy sources and is derived from new energy sources.
The government is also preparing to launch a Direct Power Purchase Agreement (Direct PPA) mechanism, allowing electricity consumers to contract to purchase clean energy directly from producers through the state-owned transmission line. Initially, the service will be offered to the data center sector, totaling 2,000 megawatts. If successful, it will be expanded to other industries. This energy mechanism is part of the National Energy Development Plan, which the Ministry of Energy is currently revising to increase the proportion of clean energy from 26% to 51% by 2037.
Mr. Phumtham stated that importantly, the government will accelerate the development of Thai personnel with skills that meet the needs of targeted industries. The Ministry of Higher Education, Science, Research and Innovation and the Ministry of Education have implemented projects that emphasize collaboration with the private sector. For example, the Sandbox project to produce a workforce in advanced semiconductors and electronics has seen 15 universities partner with eight private sector partners to launch five new programs and establish three National Semiconductor Workforce Development Centers, with the goal of producing over 80,000 personnel within five years. Furthermore, there are projects to develop personnel in the electric vehicle and digital industries in parallel.
Reporters noted that this high-level discussion was attended by leading global private sector figures in the fields of semiconductors and advanced electronics, printed circuit boards (PCBs), electric vehicles and batteries, digital, and the food and biotechnology industries. Companies like Sony, Samsung, Unimicron, BYD, Huyndai, Google, TikTok, and Nestl© participated.