PM outlines Thailand's automotive hub vision

[Coss]

Prime Minister Abhisit Vejjajiva has declared Thailand's vision to be the automotive production hub of Asia.

 

He told the World Economic Forum in Davos, Switzerland, yesterday that the country has geared its policy towards becoming the region's major auto producer.

 

Mr Abhisit told the ``Thailand and the Global Automotive Industry'' session that the vision was buoyed by the government's competitive export-oriented industry well known for producing high-quality one-tonne pickup trucks, eco-cars and motorcycles.

 

Thailand holds many advantages, including a large pool of skilled labour employed at a competitive rate and an abundant supply of rubber.

 

The PM said incentives were offered to attract investors, including exemption from import duty on machinery and corporate income tax exemptions for five to six years depending on volume of investment.

 

Mr Abhisit also highlighted the government's plan to encourage the global automotive industry to use Thailand as its hub for business activities and as a product base in Southeast Asia.

 

He said the automotive hub vision was enhanced by the fast development of Asean regional integration and free trade agreements with several countries.

 

The country is also moving towards production of more fuel-efficient vehicles, including the hybrid, plug-in hybrid, electrical and fuel cell-powered models, with the introduction of special reduced excise tax rates for those vehicles.

 

Thailand's notable advantage is that it is a natural gateway to Asia with a well-developed infrastructure and efficient connectivity to the rest of Asia and beyond.

 

Mr Abhisit said the government has huge investment plans for the country's infrastructure and logistics network and Thailand would form part of the economic corridor linking Asia's north and south.

 

Mr Abhisit has joined at least 35 other national leaders at this year's World Economic Forum, which ends on Monday.

 

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{More with the f*cking hubs!}