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American firms looking at relocating production bases to Thailand amid US-China trade war:
US business leaders on a visit to Thailand are seeking opportunities, especially potential relocation of
their production bases, as they manage risks stemming from the US-China trade war, director-general
of the Finance Ministry’s Fiscal Policy Office Lavaron Sangsnit said on Tuesday (Sep 5). US Secretary
of Commerce Wilbur Ross and the delegation of executives representing 16 American companies met
Finance Minister Uttama Savanayana to discuss trade and investment between the two countries on
the sidelines of Asean Summit on Monday. US firms are interested in investing in the Eastern
Economic Corridor (EEC), the government’s flagship project. Baxter International, one of world’s
leading medical supplies manufacturers, has already invested in the EEC. The company executives
are also looking at energy, infrastructure and financial services areas, Lavaron said. Ross and the US
delegation are visiting Thailand, Indonesia and Vietnam as part of the Trump administration’s efforts to
promote its Indo-Pacific strategy, which has been seen as counter move against China’s Belt and
Road Initiative. Ross also expressed US support for Thailand 4.0 and praised the kingdom for moving
up to the 21st place in the Doing Business ranking and successfully hosting the Asean Summit and
Related Summits between November 2 and 4 in Bangkok. (The Nation)
US business leaders on a visit to Thailand are seeking opportunities, especially potential relocation of
their production bases, as they manage risks stemming from the US-China trade war, director-general
of the Finance Ministry’s Fiscal Policy Office Lavaron Sangsnit said on Tuesday (Sep 5). US Secretary
of Commerce Wilbur Ross and the delegation of executives representing 16 American companies met
Finance Minister Uttama Savanayana to discuss trade and investment between the two countries on
the sidelines of Asean Summit on Monday. US firms are interested in investing in the Eastern
Economic Corridor (EEC), the government’s flagship project. Baxter International, one of world’s
leading medical supplies manufacturers, has already invested in the EEC. The company executives
are also looking at energy, infrastructure and financial services areas, Lavaron said. Ross and the US
delegation are visiting Thailand, Indonesia and Vietnam as part of the Trump administration’s efforts to
promote its Indo-Pacific strategy, which has been seen as counter move against China’s Belt and
Road Initiative. Ross also expressed US support for Thailand 4.0 and praised the kingdom for moving
up to the 21st place in the Doing Business ranking and successfully hosting the Asean Summit and
Related Summits between November 2 and 4 in Bangkok. (The Nation)
