BoI: EEC to increase subcontracts
The Board of Investment (BoI) expects high growth in the country’s subcontracting industry this year thanks to implementation of the government’s flagship Eastern Economic Corridor (EEC) scheme.
The BoI plans to hold SUBCON Thailand 2018, Asean’s largest industrial subcontracting and business matching event, co-organised with Thai Subcontracting Promotion Association and UBM Asia Thailand Co.
The event is scheduled for May 16-19 at Bitec, held in conjunction with INTERMACH 2018 at the same venue.
Krongkanoke Managitjonggol, director of the BoI Unit for Industrial Linkage Development, expects 6,500 pairs of business matches, with a business value of 12 billion baht from the event.
Last year SUBCON matched 6,419 businesses, creating value of 10 billion baht.
“More than 400 subcontracting companies will join this upcoming event from Thailand, Taiwan and Japan, while more than 25,000 buyers from various industries such as automotives, electronics, machinery and future industries, including aviation, medicine and equipment, robotics, and automation industries are expected to take part,” she said.
“With continued investment growth in Thailand, SUBCON Thailand is organised annually so leading international enterprises can seek business partners to promote growth in several industries.”
Ms Krongkanoke said enterprises participating in the activity are aviation buyers from European countries, including France, England, and Italy, medical and equipment entrepreneurs from Japan, and automotive companies from Italy, Japan, China, Korea, Canada, and the US.
She said Thailand has a clear policy to move the country’s competitiveness forward through a focus on R&D, innovation, value-added on agricultural, industrial, and service sectors as well as small and medium-sized enterprises development.
She said the Thai government is promoting future investment in the EEC project, in particular by promoting S-curve investment, through which subcontracting industries will also see further investment and activity.