The International Trade Council is pleased to announce that Thailand's Prime Minister, Mr. Srettha Thavisin, has confirmed expectations of a significant investment from tech industry leaders Tesla, Google, and Microsoft, totaling at least $5 billion. This announcement came in the wake of Prime Minister Thavisin's engagement with top-level executives at the recent U.N. General Assembly held in New York.
Outlined investments are focused on Thailand's rapidly expanding tech sector, with Tesla considering the establishment of an electric vehicle (EV) manufacturing facility and both Microsoft and Google exploring opportunities for data centre expansions. Specific details on whether the $5 billion investment would be collective or individual contributions from the companies remain forthcoming.
The anticipated investment marks a crucial juncture for Thailand's economy, which, despite recent challenges and subdued growth forecasts, remains poised to benefit from fresh foreign investments and reinforce its position as a regional powerhouse. The country, which stands as Asia's fourth-largest automobile assembly hub, continues to offer a slew of incentives to EV and battery manufacturers, supplemented by tax benefits to domestic EV consumers, in its bid to fortify its status as a leading regional automotive hub.
It is pertinent to note that Mr. Srettha Thavisin had a conversation with Mr. Elon Musk, CEO of Tesla, about the potential and future of the EV sector in Thailand.
The International Trade Council commends the visionary leadership of Prime Minister Thavisin and remains hopeful for continued collaboration and growth in international trade and investment.
