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February 5, 1998.bkk post, INVEST
- Subject: February 5, 1998.bkk post, INVEST
- From: suriya@xxxxxxxxxxxx
- Date: Wed, 04 Feb 1998 22:50:00
February 5, 1998.bkk post, INVESTMENT
Canadians show
interest in auto
parts, gas pipelines
Thailand will regain 'status' in two
years
Despite Thailand's financial crisis, some Canadian businesses
are searching for potential investment opportunities in the
kingdom.
Once Thailand recovers from its financial woes in one or two
years, it will regain its status as an attractive country for
investment.
So said Canadian Ambassador to Thailand Bernard Giroux who
called on Industry Minister Somsak Thepsuthin yesterday to
discuss the Thai government's industrial promotion policy.
Mr Somsak quoted the Canadian diplomat as saying that
Canadian companies were particularly interested in investing in
the production of automotive spare parts, telecommunication
parts and the natural gas pipeline project in Thailand.
The minister said Canada had missed out on investment
opportunities in Thailand in the past, therefore it may be a good
time for Canadian companies to begin investing in the kingdom
so they can establish a foothold before the economy rebounds.
Canadian investment in Thailand has remained limited. Canada
would have invested billions of baht in the kingdom over the past
decade if the Skytrain mass transit project, promoted by Lavalin,
was not canncelled.
Nova Corp, the Canadian natural gas and petrochemical giant, is
now eyeing opportunities to jointly invest, and render its
expertise, in projects like gas transmission systems and natural
gas separation plants in Thailand with the Petroleum Authority of
Thailand (PTT) and other parties.
More specifically, Nova is pursuing grand schemes such as the
planned third natural gas trunk line in the Gulf of Thailand and the
proposed gas transmission system in the Northeast.
Canada is looking for opportunities to set up automotive spare
parts production lines in Thailand to support General Motors' car
assembly plant on the eastern seaboard which is due to come on
line in the middle of next year.
The North American country has provided US$11.9 million
assistance to promote development of small and medium
industries in northeastern Thailand.
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