December 5, 2022
BANGKOK – Saudi Arabian companies are expected to invest up to 300 billion baht in Thailand next year, especially in targeted industries in the Eastern Economic Corridor (EEC).
Government spokesman Anucha Burapachaisri said on Sunday that Prime Minister Prayut Chan-o-cha has been informed of these projected figures.
Prayut led a delegation to Saudi Arabia earlier this year to rebuild bilateral relations after they were downgraded over the Blue Diamond Affair in 1989.
On November 18, Prayut also held talks with Crown Prince Mohammad bin Salman on the sidelines of the Apec Summit in Bangkok and signed pacts to expand diplomatic ties.
The spokesman said after the Saudi delegation visited the EEC during the Apec Summit last month, they showed interest in investing in digital innovations, medical tourism, precision medical equipment, food processing, clean energy and electric vehicles.
Anucha added that the EEC Office has expressed confidence that Thailand will become an EV manufacturing hub in Asean after many automakers decided to set up their manufacturing bases here.
“The prime minister is pleased that all relevant sectors have cooperated to help make Thailand’s manufacturing sector outstanding in the eyes of foreign investors,” he added.