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February 5, 1998.bkk post, INVEST



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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