Thailand Vowed to Bring More Businesses in the Philippines
Thailand industries, particularly food and infrastructure sectors, promised to bring more investments in the Philippines.
According to Malacañang, Chair of the Federation of Thai Industries, Kriengkrai Thiennukul made this promise in a roundtable conference between Thai business leaders and Philippine economic managers and officials in Bangkok.
Thiennukul stated, “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.”
He asserted confidence that stronger partnerships between Thailand and the Philippines would help improve economic growth to both countries.
In addition, Thiennukul noted, “We welcome to support trade, 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 objectives and create mutual benefit for the two countries in the future.”
Quoting similar problems faced by both Asian economies like the impact of climate change on the supply chain, the pandemic, and global political instability.
Moreover, Thiennukul mentioned that it is substantial to strengthen the economic sectors, especially with a focus on sustainable development.
He added, “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 revitalizing the economy.”
The Thai Government has introduced the Bio-Circular-Economy (BCG) model as a strategy for national development and post-pandemic recovery to speed up the country’s move to achieving a Sustainable Development Goal.
The meeting with Thailand businesses is a part of the administration’s plan to encourage investments and build up economic cooperation between the Philippines and its Association of Southeast Asian Nations (ASEAN) neighbors.
The Federation of Thai Industries is a non-profit organization that serves as the core organization that connects public and private sectors as well as the relationship between domestic and international industrial shoppers and entrepreneurs.
Meanwhile, Philippine Chamber of Commerce and Industry (PCCI) president George Barcelon stated that Thai conglomerate CP Group is interested in putting more investments in the Philippine agriculture and aquaculture industries.
CP Group also promised to make additional investments in the country’s aquaculture, rice, and swine production. Thai businesses have also shown their interest in investing towards energy and telecommunications.
