Thailand set to draw more FDI as Industry Minister on roadshow in US

BANGKOK,Dec17(TNA) - Thailand is drawing more foreign direct investment(FDI) projects, as Thai Industry Minister Chaiwuti Bannawat is leading a Thai delegation for a roadshow in the United States--set from December 12-20.
Chaiwuti said that Dow Chemical Company, a US and the world largest manufacturer of chemical products, had agreed on a new environmentally-friendly FDI project worth two billion baht at the Asian Industrial Estate in Thailand's eastern Rayong Province to produce propylene glycol, a raw material for producing several consumer goods and pharmaceutical items, at around 150,000 tonnes annually.
The Michigan-base firm's investment in Thailand has totaled some 142.4 billion baht since 1967, along with its propylene glycol projects in Germany, North America, Brazil and Australia.
Chaiwuti said Guardian Industries, another large-scale US firm, has also planned to expand its investment on glass projects, worth some 1.5 billion baht, in Thailand's central Saraburi Province.
The Thai industry minister said his team had also met executives of two US automobile giants, General Motors or GM and Ford Motor Company, to discuss growth potential of Thailand's automobile and parts industries and to invite them to further expand their investment in the Kingdom.
At present, GM has four investment projects in Thailand worth about 30 billion baht; while Ford has joined forces with Japan-based Mazda Motor Corp under Auto Alliance (Thailand) Co., Ltd. to invest in auto projects in Thailand worth some 50 billion baht.(TNA)