Prime Minister Paetongtarn Shinawatra has encouraged the U.S. private sector to consider expanding investment in Thailand’s target sectors, including clean energy, the digital economy, and semiconductors.

The Prime Minister attended the 31st APEC Economic Leaders’ Meeting and related meetings on 14-16 November 2024 in Lima, Peru. On 14 November, she met a group of U.S. business executives, members of the U.S. - APEC Business Coalition, a network group comprising the U.S. - ASEAN Business Council (USABC), U.S. Chamber of Commerce, and the National Center for APEC on the sidelines of the 2024 APEC Economic Leaders’ Week.

The Prime Minister discussed matters with senior executives from prominent U.S. businesses, including Apple, Google, Mastercard, Merck & Co. (MSD), Organon, Pfizer, Visa, and Walmart, and underscored the Thai government’s policy continuity, especially the commitment to proactive economic diplomacy and engagement with the private sector’s role and contribution in driving partnership between the two countries.

She also shared updates on Thailand’s rigorous efforts to create enabling ecosystem for foreign investors and discussed strategies for building partnerships and attracting investment in key industries. U.S. business leaders expressed confidence in Thailand’s economic potential and showed enthusiasm for expanding their operations and partnerships in Thailand, particularly in such sectors as finance and banking, SME development, healthcare, and the digital economy.

During her meeting with Mr. Karan Bhatia, Global Vice President of Government Affairs and Public Policy of Google, the Prime Minister welcomed Google’s announcement of its large-scale Data Center and Cloud Region investment in Thailand worth USD one billion. She reaffirmed Thailand’s commitment to working closely with Google across various strategic areas, such as advancing digital and AI skills among the Thai workforce, integrating digital tools to streamline government operations, and accelerating the “Go Cloud First” policy. This discussion was a follow-up on the meeting between the Prime Minister and Ms. Ruth Porat, President and Chief Investment Officer of Alphabet and Google, on 30 September 2024 in Bangkok.

Later, during her meeting with Mr. Shou Zi Chew, Chief Executive Officer of TikTok, Prime Minister Paetongtarn expressed her appreciation for TikTok’s close collaboration with various Thai agencies, which benefited Thailand in numerous areas, among others SME empowerment, digital marketing opportunities through TikTok and social media platforms, tourism promotion, and enhancing digital knowledge and skills. Both sides also discussed other areas to further their partnership, particularly in promoting the digital economy and ecosystem, supporting small businesses, enhancing Thailand’s tourism and creative industries, and advancing digital skills and literacy among Thai citizens.

In addition, the Prime Minister met Mr. Antony Cook, Corporate Vice President & Deputy General Counsel, Customer & Partner Solutions of Microsoft. Both sides discussed potential plans for further investments in cloud and AI infrastructure, as well as initiatives to enhance AI skills for Thai personnel in order to build skilled workforces for high-tech industries, a key component in creating an economic environment aligned with Thailand’s goal of becoming a regional digital hub.