Thailand keen on business relocation: Minister

MA Momen, extreme right, president of Bangladesh Thai Chamber of Commerce and Industry, hands a crest to Alongkorn Ponlaboot, deputy commerce minister of Thailand and leader of a Thai delegation in Bangladesh, in a meeting in the capital on Monday. Tasanawadee Miancharoen, second from left, Thai ambassador, is also seen. Photo: BTCCI

Many labour-intensive industries in Thailand want to relocate their operations to Bangladesh for its favourable business environment and policy support, said Alongkorn Ponlaboot, deputy minister of commerce from Thailand.
Bangladesh-Thai Chamber of Commerce and Industry (BTCCI) held a meeting in the capital recently with a Thai business delegation led by Ponlaboot.
The minister also urged Bangladeshis to invest in real estate, agriculture and education in Thailand, according to a statement released by the chamber yesterday.
“The time is appropriate for Bangladesh to pursue the “look-east” policy, the minister said.
Regional connectivity involving India, Bangladesh, Myanmar and Thailand is of “paramount importance” and Bangladesh needs to develop its infrastructure, said Ponlaboot.
The minister referred to a landmark deal over the Dhaka Elevated Expressway project, amounting to $1.2 billion, which would be implemented by Ital-Thai, a joint venture company based in Thailand.
MA Momen, president of BTCCI, said many developed countries regard Bangladesh as a new venue for investment because of its business-friendly industrial policy, public-private partnership guideline and low labour cost.
Tasanawadee Miancharoen, ambassador of Thailand in Bangladesh, Matiur Rahman, chairman of Uttara Group, and Samson H Chowdhury, chairman of Square Group, also spoke.