Thailand’s Commerce Minister Pichai Naripthaphan visited the headquarters of Japanese steel giant Nippon Steel Corporation in Tokyo to encourage the company to increase its investments in Thailand. He highlighted Thailand's improving business environment and the government's efforts to ensure a fair market for local producers. He said Thailand is committed to providing a competitive market, especially through measures against imports of low-quality steel.
Mr. Pichai suggested Nippon Steel to focus on the production of “green steel”, for which global demand is growing, and to expand its investments in Thailand in this direction. He also said that the Thai government will continue to support investments in sectors such as artificial intelligence and data centers, and aims to increase exports by 5% by 2024.
Nippon Steel, the world's fourth largest steelmaker, has been operating in Thailand for years and its investments there rank third behind the US and India. With the acquisitions of G Steel Pcl and G J Steel Pcl, the company has consolidated its role in the Thai economy.
The minister highlighted the government’s efforts to support local manufacturers with proactive measures such as a task force to combat substandard imports and anti-dumping regulations. He also said the ministry is fully committed to protecting the domestic market while encouraging foreign investment. Pichai added that Thailand will continue to create a supportive environment for such investment by increasing its appeal for sustainable industries.
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