WHA shrugs off impact of US tariffs
The uncertainties surrounding what the final tariff rates will be following negotiations between the US and several countries, including China and India, has caused some investors to postpone their plans to expand their businesses into countries destined to face steep tariffs.
Investment decisions will not be made until the talks are finished. Thailand is also negotiating with the US to reduce the 36% import duty on Thai products before the rate takes effect on Aug 1.
Foreign investment in Thailand should not be seriously affected, said Jareeporn Jarukornsakul, group chief executive and chairman of WHA's executive committee.
"We are confident Thailand has strengths to draw foreign investment, including the state's attractive investment privileges and prime industrial areas in the Eastern Economic Corridor [EEC]," she said, referring to the area that covers parts of Chon Buri, Rayong and Chachoengsao, forming a strategic location that will be developed into Thailand's high-tech industrial hub.
Ms Jareeporn was speaking during the "Decode 2025" seminar, during which business leaders shared their views on mid-year economic signals in 2025, which has seen many economic challenges so far, including the impact of tensions in the Middle East and US President Donald Trump's reciprocal tariff policy, which threatens to weaken global trade.
She believes many investors want to establish businesses in Thailand because they want to avoid the impact of geopolitical conflicts and a trade war.
"It is true the world will be affected by the tariffs, but investment will continue because the tariff rates will decline when Trump leaves office," said Ms Jareeporn.
WHA expects its sales of industrial land to Thai and foreign investors to reach 2,300 rai this year, higher than its target of 1,750 rai.
Industries that will keep growing in the country include home appliances, electronic products as well as electric vehicles, batteries and their supply chains.
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