👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Thailand expects Tesla, Google, Microsoft to invest $5 billion -prime minister

Published 09/24/2023, 01:45 AM
Updated 09/24/2023, 01:50 AM
© Reuters. FILE PHOTO: Thailand's Prime Minister Srettha Thavisin speaks during a press conference after a weekly cabinet meeting at the government house in Bangkok, Thailand, September 13, 2023. REUTERS/Athit Perawongmetha/File Photo

BANGKOK (Reuters) - Thailand's Prime Minister Srettha Thavisin said on Sunday the country expected to receive investment of at least $5 billion from Tesla (NASDAQ:TSLA), Google (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT).

"Tesla would be looking into an EV manufacturing facility, Microsoft and Google are looking at data centres," he said, without detailing whether the $5 billion was expected to be a combined investment or made individually by each company.

Tesla, Google and Microsoft did not respond immediately to requests for comment.

Srettha was speaking to reporters in Bangkok after attending the U.N. General Assembly in New York where he also held talks with company executives earlier this week.

Fresh foreign investment would boost Thailand's flagging economy, which is expected to grow by 2.8% this year, less than previously projected, due to weaker exports.

© Reuters. FILE PHOTO: Thailand's Prime Minister Srettha Thavisin speaks during a press conference after a weekly cabinet meeting at the government house in Bangkok, Thailand, September 13, 2023. REUTERS/Athit Perawongmetha/File Photo

Srettha spoke with Tesla CEO Elon Musk last week about the electric vehicle sector.

Thailand, Asia's fourth-largest automobile assembly hub, has been offering incentives to EV and battery makers, and tax cuts to local EV buyers, to remain a regional auto centre.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.