Thailand faces tougher competition for high-tech foreign investments as election jitters mount

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Thailand faces tougher competition for high-tech foreign investments as election jitters mount
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Foreign direct investment has yet to recover to levels seen before the military seized power in 2014. Read more at straitstimes.com.

It is offering subsidies and tax breaks to consumers of up to 150,000 baht per vehicle, including imports. A programme to install 9,000 recharging stations across the country is nearing the halfway mark.

Foxconn, for instance, is a partner in a joint venture, Horizon Plus, that plans to invest between US$1 billion and $2 billion to open an electric vehicle assembly plant that will eventually churn out 150,000 to 200,000 cars a year.first overseas electric vehicle assembly plant “Thailand’s development environment for electric vehicles was a decisive factor,” said Mr Ke Yubin, BYD’s general manager for Thailand said.

Last August, Austrian textile giant Lenzing opened its new €400 million factory in Prachinburi, Thailand – the world’s largest production plant for lyocell, a semi-synthetic fibre used as a substitute for cotton or silk.

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