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BANGKOK (Reuters) – U.S. Commerce Secretary Gina Raimondo said on Wednesday that Thailand is a top priority for U.S. multinational companies looking to diversify their supply chains and are prepared to “significantly increase” investment in the country. said.
Speaking at an event in Bangkok, Raimondo said areas such as electric vehicles, semiconductors and the digital sector are of particular interest.
“As US multinationals look to diversify their supply chains, Thailand is increasingly at the top of the list,” Raimondo said.
“Right now, not only are we not producing enough semiconductors, but semiconductor production is dangerously concentrated in one or two countries around the world. So we all need to work together to tackle this problem. is.”
He also said the Indo-Pacific Economic Framework has made “significant” progress, including reaching agreements on supply chains, decarbonization, infrastructure and good governance.
Raimondo said Thailand and other Indo-Pacific countries stand to benefit from the framework and will be prioritized for semiconductor investment.
Raimondo visited the Philippines earlier this week, during which he said American companies were expected to announce more than $1 billion in investments in the country, a staunch ally of the United States. He said the investments will span areas such as solar energy, electric vehicles and digitalisation.
(Reporting by Devjyot Ghoshal; Writing by Martin Petty; Editing by Kanupriya Kapoor)
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