See More on Facebook

Business

Japan, Toyota eye Thailand as R&D, manufacturing hub

Meanwhile Toyota chairman Takeshi Uchiyamada said his company is currently beefing production facilities in Thailand, aiming to build over 5 million units by 2025.


Written by

Updated: October 1, 2019

Industry Minister Suriya Juangroongruangkit was recently in Japan to discuss business and investment opportunities with existing and future partners, including Toyota Motors, which aims to produce 5.5 million automobiles in Thailand by 2025.

After signing a memorandum of understanding with the Japan-Thailand Economics Corporation Society (JTECS) and Toyota Motors Co Ltd, Suriya said his ministry will use this agreement to boost the production of automobiles and improve the robotic industry in Thailand.

“This MoU will bring us closer to the Thailand 4.0 target,” he said. “We also aim to establish 1,400 system integrators within four years to facilitate hardware and software needs of corporate clients.”

Suriya added that Toyota was also planning to make Thailand a research-and-development hub for the Asia-Pacific region.

“As a major partner in this MoU, Toyota will bring state-of-the-art technology to manufacturing bases in Thailand, which will boost production capacity to over 750,000 units annually,” the minister added.

“Within this target, 500,000 will be electric vehicles [EV], while the rest will be plug-in hybrid electric vehicles [PHEV],” he said. “We are emphasising on PHEVs since pure EVs still have many limitations, such as higher price batteries and total reliance on charging stations, which are not comprehensive enough in many areas.”

The industry minister also discussed investment opportunities in the Eastern Economic Corridor (EEC) with Japan’s Ministry of Economy, Trade and Industry (METI).

“Minister Isshu Sugawara‎ told me that Japan is interested in infrastructure projects such as high-speed train and manufacturing bases for robotics and high-tech industries,” said Suriya. “METI will also coordinate with its partners to bring Japanese investors to Thailand to explore EEC’s readiness and business opportunities.”



Enjoyed this story? Share it.


The Nation (Thailand)
About the Author: The Nation is a broadsheet, English-language daily newspaper founded in 1971 and published in Bangkok, Thailand.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Business

Huawei asks US court to overturn ban

The company is suing the FCC, the latest in a series of legal tussles. The legal battle between Huawei Technologies Co and United States government intensified on Thursday. The Chinese tech heavyweight announced a legal challenge to the US Federal Communications Commission, seeking to overturn the latter’s order that bans telecom carriers from buying the company’s equipment via federal subsidies. The move is the latest push by the world’s largest telecom equipment maker to pursue fair competition and treatment amid a slate of restrictions from Washington. Analysts said the FCC ban would have very limited impact on Huawei’s financial performance, but labeling the company as a national security threat would cause far-reaching reputational harm. In a petition filed in the US Court of Appeals for the Fifth Circuit on Thursday, Huawei asked the court to declare the FCC order un


By China Daily
December 6, 2019

Business

Is Vietnam an attractive place for Samsung chip plant?

The tech giant already has manufacturing plants in the country. Is Vietnam a good place for chipmakers to consider building a high-tech plant? In light of a request by the Vietnamese head of state to Samsung Electronics, the world’s largest chipmaker, many in South Korea are asking whether it is a viable business move. In a private meeting held in Seoul on Thursday, Vietnamese Prime Minister Nguyen Xuan Phuc asked Samsung Electronics Vice Chairman Lee Jae-yong to consider building a chip manufacturing facility there. The Korean tech giant already has production plants for mobile phones and other IT devices in the country. Following the re


By The Korea Herald
December 2, 2019

Business

Nepal’s luxury hotels are growing but the rooms are empty

There are 15 five-star hotels in the country, and a dozen more are being planned even as existing hotels continue to report a significant drop in profit. High-end hotels might be proliferating across the country but there aren’t enough guests to fill them up, according to the financial reports of Nepal’s three key five-star institutions. The first quarter financial reports from Taragaon Regency Hotels, Soaltee Hotel and Oriental Hotels, all of which are listed on the Nepal Stock Exchange, showed that profits have taken a nosedive after posting record profits last fiscal year. The first quarter of the fiscal year runs from mid-July to the end of September. The three hotel groups say that unhealthy competition, like price undercutting, a demand-and-supply gap, and a growing number of backpackers are behind the sharp fall in earnings. According to its report, Oriental Hotels, which operates Radi


By The Kathmandu Post
November 21, 2019

Business

Huawei to match Google’s mobile services by Q1 2020

The company to support more Android apps on its phones. Huawei may soon be able to offer Android developers a full range of the essential mobile services required for their apps as the ones provided by Google. This would allow more Android apps to work on new Huawei phones affected by a ban that forbids the use of Google mobile services on these handsets. Mr Zhang Ping’an, president of Huawei Consumer Cloud Service told The Straits Times in an interview at Huawei’s Asia-Pacific Developer Day last Wednesday (Nov 13) that Huawei Mobile Services can “replace 90 per cent of Google Mobile Services by December”. These mobile services from Google and Huawei are used by developers to enable key functions in their mobile apps to, for


By The Straits Times
November 21, 2019

Business

Excessive discounts worked against Nissan Motor profits

The company has been on the back foot since its former CEO was accused of mismanagement. Nissan Motor Co. has reported a massive 85 percent decline in operating profits — an area that indicates the strength or weakness of a company’s main business — in its midterm consolidated financial report for the half fiscal year ending in September. The pursuit of increased sales has harmed profitability, delaying the development of new Nissan models. That in turn has resulted in fewer sales — a vicious cycle the automaker is struggling to escape from. Nissan Motor’s deteriorating business performance may affect its three-way partnership with Renault SA, the French automaker that is its largest shareholder, and Mitsubishi Motors Corp. Failed strategy by Ghosn Nissan Corporate Vice President Stephen Ma, who will become chief financial officer on Dec. 1


By The Japan News
November 14, 2019

Business

US property loses allure for Chinese buyers

Economic factors contribute to falling demand.  Over the past 10 months, Bei Qin, a realtor in Silicon Valley, California, has not had any clients from China, a market that used to be her major source of business. “We had the best business in 2016 and 2017. Every day, we had inquiries from Chinese buyers and every week our WeChat account had more than 10 new subscribers,” said Qin, president of ACEQ Investment Group in Cupertino. “Now those days are gone.” After a decade of increasing investment by wealthy Chinese in residential property purchases in the United States-the biggest proportion of international buyers for seven consecutive y


By China Daily
November 12, 2019