Deputy Prime Minister and Minister of Foreign Affairs discussed investment promotion with USABC and USCC during the sideline of the UNGA77

On 22 September 2022, H.E. Mr. Don Pramudwinai, Deputy Prime Minister and Minister of Foreign Affairs attended a dinner reception in honor to Thai delegation hosted by the U.S.–ASEAN Business Council and U.S. Chamber of Commerce (USCC) at JW Marriott Essex House during the 77th United Nations General Assembly. Ambassador Ted Osius, President & CEO of the U.S.-ASEAN Business Council, Mr. John Goyer, Executive Director of Southeast Asia of the US Chamber of Commerce as well as executives from Chevron, ConocoPhillips, Cheniere, Koch Industries, and Viatris also attended.

DPM/FM underscored that Thailand has made great strides to emerge stronger and more resilient into this new era, guided by the Bio-Circular-Green Economy Model to create more sustainable, more resilient, and more balanced economic growth. The BCG Economy remains at the forefront of Thailand’s leadership and priorities at the regional level, including APEC. This is also in line with the UNGA77 theme: A Watershed Moment: Transformative Solutions to Interlocking Challenges” —epitomizes task ahead to foster a resilient and inclusive economic revival in the Next Normal. DPM/FM also highlighted Thailand’s role in promoting investment in ASEAN as well as in the Indo-Pacific Economic Framework (IPEF), which presents new opportunities and serves as an innovative mechanism that will help to elevate regional economic cooperation.

DPM/FM stressed that Thailand looks ahead to advance the future of Thailand - U.S. partnership. He reminded the successful meeting with Secretary Blinken, who visited Thailand in July this year, during which they signed two important documents -- the Communique on Strategic Alliance and Partnership and the MoU on Promoting Supply Chain Resilience. This catalyzes Thailand - U.S. collective progress in promoting economic revitalisation under the BCG Economy and advancing tangible benefits for their peoples and economies.

On the business front, Thailand has accelerated its incentives development for the S-Curve industries within the Eastern Economic Corridor (EEC). Thailand would welcome more investments and capacity-building support from the U.S., especially in decarbonization industries and renewable energy, digital economy, smart electronics, and bioindustries.

DPM/FM Don also answered various questions and comments by the U.S. Business executives, including the true meaning behind Thailand’s APEC motto—OPEN. CONNECT. BALANCE., which is in line the U.S.’s approach next year as the next APEC host. The U.S. Business executives also expressed their readiness and commitment to collaborate with the Thai Government to further foster Thai-US economic cooperation.