Bangkok--Jun 17--BOI
The Office of the Board of Investment further expanded its investment promotion network today by signing an MOU (Memorandum of Understanding) with the City of Yokohama agreeing to promote information exchange and expand small and medium-sized enterprise (SME) matchmaking between Thailand and Japan. Secretary General Satit Sirirangkamanont signed the treaty on behalf of the BOI and Hiroshi Nakada, the city’s mayor, represented Yokohama.
Under the terms of the MOU, the City of Yokohama will work cooperatively with the BOI to support investment networking activities such as seminars, exhibitions, and conferences. The MOU aims to promote trade and investment in both Thailand and Yokohama through industrial networking and SME development.
Yokohama, Japan’s second largest city, is located approximately 50 kilometers (31 miles) from the capital, Tokyo. Nissan Motor Company recently announced that it will be moving its worldwide headquarters to Yokohama, which is currently leading Japan in promoting foreign direct investment.
This latest MOU signing is in line with the BOI strategy to increase its competitiveness in global markets by improving networking and information exchange. Already, the BOI has signed similar MOUs with banks, businesses and investment promotion agencies in France, Spain, Austria, Pakistan, Singapore and other key trading partners.
This agreement will build upon Thailand’s established relationship with Japan, which is currently Thailand’s second largest export trading partner and the largest source of foreign direct investment. 2005 first quarter Japanese investment in Thailand totaled more than $2.4 billion representing 70% of total foreign investment (Source: BOI international Affairs Division). End.