Multinationals may relocate operations
Amid rising global uncertainty, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has urged the government to step up efforts to attract foreign investors and encourage multinational companies to relocate their operations to Thailand.Following a committee meeting on Wednesday, Payong Srivanich, chairman of the Thai Bankers' Association, said businesses worldwide face growing risks from the prolonged war in the Middle East.
However, this presents an opportunity for Thailand to attract more foreign direct investment (FDI) and encourage multinational corporations to relocate their operations to the country, he said.
"Given heightened global uncertainties and the positive outlook for FDI inflows into Thailand, the government should capitalise on this opportunity to attract relocation of manufacturing bases and the establishment of regional middle- and back-office operations by multinational corporations," said Mr Payong.
In particular, the ongoing surge in FDI into digital and electronics-related industries presents substantial opportunities for Thailand. The country can leverage these investment trends to accelerate economic transformation and establish itself as a preferred destination for business relocation and expansion, he said.
