In a significant development, U.S. firms are expressing strong interest in Thailand as a key destination for diversifying their supply chains and ramping up investments. Speaking at an event in Bangkok, U.S. Commerce Secretary Gina Raimondo highlighted Thailand’s appeal to multinational corporations, particularly in sectors like electric vehicles, semiconductors, and digital industries.
Raimondo emphasized the need for diversification, pointing out the risks associated with semiconductor production being concentrated in only a few countries. She underscored the importance of collaboration and highlighted the Indo-Pacific Economic Framework’s progress, which includes agreements on supply chains, decarbonization, infrastructure, and governance.
Thailand, along with other Indo-Pacific nations, stands to benefit from this framework and is poised to receive prioritized investments in the semiconductor sector.
Raimondo’s recent visit to the Philippines further underscores U.S. companies’ commitment to investing in the region. With announcements of investments exceeding $1 billion, spanning sectors such as solar energy, electric vehicles, and digitization, U.S. firms are demonstrating their dedication to strengthening ties with staunch allies.
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