Japan's Sumitomo Mitsui Banking Corporation (SMBC) will adopt Thailand as its base for expansion in Southeast Asia in celebration of its 70th year of operations in the kingdom, it says.
Makoto Takashima, president and CEO of SMBC, said Thailand was unique and offered a strategic location for its business.
"The hospitality of Thais and the country's positive business sentiment, with the full support of the government, enabled Japanese companies to grow a strong base here," Mr Takashima said.
SMBC will keep expanding its network in Asia to support Japanese companies in Asean markets, he said.
"We remain steadfast in our commitment to be the global consumer finance company that is most trusted by our customers," he said.
"Thailand 4.0 would be a significant catalyst in industrial development, attracting foreign investors.
"The policy will enhance the country's strong position and attract existing manufacturers to expand their investment," he said, adding that Thailand's supply chain and infrastructure had been developed well in recent years.
Yuichi Oba, Deputy Chief of Mission and Minister at the Embassy of Japan in Thailand, said an MoU between SMBC and the office of the Eastern Economic Corridor (EEC) signed in July would help promote investments in the EEC, a new high-tech industrial hub, among Japanese businesses.
"Under this partnership, the SMBC will help promote and facilitate investments in the EEC among Japanese businesses," Mr Yuichi said.
"The EEC is Thailand's new high-tech industrial hub serving as the base for 12 S-curve industries that include electric vehicles and smart electronics as well as affluent, medical and wellness tourism," he added.
