This shift comes as concerns grow over the impact of U.S.-China trade disputes, which can force companies to relocate production facilities.

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Finance Minister Pichai Chunhavajira (centre right) meets with Japanese business executives during the BoI's recent roadshow in Tokyo. (Photo: Bangkok Post)

Following a BoI delegation’s visit to Tokyo from February 19-21, led by Deputy Prime Minister and BoI Chairman Pichai Chunhavajira, BoI Secretary-General Narit Therdsteerasukdi stated that they met with over 400 representatives from various Japanese industries, including petrochemicals, plastics, food, digital technology, and logistics.

Among the companies showing strong interest, Japan’s Isuzu Motors plans to produce electric pickup trucks at its Thai facility, primarily for export. Other Japanese automakers, such as Mitsubishi Motors, also intend to expand their presence in Thailand.

Mitsubishi plans to launch new hybrid electric vehicle (HEV) models and begin battery electric vehicle (BEV) production in the second half of this year.

In the semiconductor sector, companies like Toshiba Electronic Device and Storage, Minebea-Mitsumi, and Rapidus are exploring investment opportunities in Thailand.

Additionally, Suntory Group aims to expand its investment, focusing on healthy beverages and eco-friendly packaging. The company has set a goal to use 100% sustainable products by 2030.

Source: VNA