I am glad to see many Japanese firms taking advantage of the new BOI scheme, especially the ones with R&D incentives. I look forward to witnessing the growth of Japanese cutting-edge electronics, automotive design and testing centers, and other advanced-technology products being made in Thailand. Besides upgrading our own economic and legal infrastructure, reaching out to other economies in the region is another structural transition that will drive Thailand forward. Thailand’s close economic ties with our neighbors are paving the way for us to become a regional connector of trade and financial services. Thanks to Thailand’s geographic location, superior financial infrastructure, and strong supply chain networks, Thailand holds many advantages to be a regional springboard for companies wishing to expand their operations in the Greater Mekong Sub region (GMS). We can benefit from the complementarities each country has to offer – abundant natural resources, raw materials and younger population in CLMV while Thailand’s position can greatly facilitate connectivity and enhance growth potential of the whole region. How may we leverage on this strategic position? •  Thanks to our cross-border infrastructure and logistics systems, Thailand has been the center for logistic distribution of goods and services in the region. The CLMV markets and the AEC offer a great prospect for businesses that are based in Thailand to capitalize on the close proximity of related industries. Products made in Thailand have been well-received among our neighbors due to their good reputation and high quality.

As a case in point, the Bank of Tokyo-Mitsubishi recently acquired a microfinance bank in Cambodia, using the Bank of Ayudhya in Thailand as a base for the acquisition. Such financial linkages will serve Japanese enterprises and tap opportunities in one of the region’s exciting emerging markets. The strong presence of Japanese financial institutions in the region will surely be an important conduit for non-financial companies in Japan to leverage on the promising prospect of the GMS region. Ladies and gentlemen, We have indeed come a long way and have gone through several tests of external disturbances. Let me assure you that the Bank of Thailand will continue to strengthen our macroeconomic resilience and stay firmly committed to financial stability as one of our principle mandates. We also embrace continuing reforms and upgrades in the financial sector to remove obstacles to the development of regional trade and investments. We are confident that Japan, Thailand and the region can mutually benefit from broader and deeper linkages, both economically and financially. With stronger economic and financial ties, I am excited to see how we, together, will move the region forward and continue to work closely in the global arena. Again, it is my great honor to be here tonight with our close and longtime friends who have supported Thailand’s economic and financial development. Thank you very much for your friendship, your commitment, and your contribution to the Thai economy. I look forward to further cooperation between our countries for many years to come. Thank you very much.