Thai Firms Keen On Investing Heavily in Philippines

Thai industries have expressed interest in investing in the Philippines in a wide range of areas that include infrastructure, transportation, tourism and food security.

Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, made this commitment in a roundtable conference with Thai business leaders and Philippine economic managers and officials in Bangkok on Saturday.

“We are ready to support… investing in food security and infrastructure such as transportation and promoting tourism with the Philippines to enhance the business sector for mutual expansion between the two countries in the future,” Thiennukul said.

The Thai business leader said through stronger partnerships between the Philippines and Thailand, the two countries can help each other in bolstering economic growth.

“We welcome to support trade and investment and other cooperation activities. I am confident that the cooperation and the close relationship between Thailand and the Philippines will help us achieve our economies’ trade and investment objective and create mutual benefit for the two countries in the future,” said Thiennukul.

Thiennukul also took note of the similar problems faced by both Asian economies, which include the impact of climate change on the supply chain, the pandemic and global political instability.

“In this current situation, it is necessary to revitalize the economic sectors, especially the focus on sustainable development. We have the same goal to focus on the joint development of public health, especially in the ASEAN Framework. The development of the digital economy, the use of the digitalization and implementation of BCG Model in the revitalizing the economy,” the Thai business leader pointed out.

The meeting with Thai businesses is part of President Ferdinand R. Marcos Jr.’s bid to woo investments and strengthen economic cooperation between the Philippines and its ASEAN neighbors.

The Federation of Thai Industries is a non-profit organization representing the Thai industrial sector.

It serves as the core organization that connects public and private sectors as well as the relationship between industrial shoppers and entrepreneurs, both domestic and international.

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