Desiree Posted September 17, 2009 Report Share Posted September 17, 2009 Toyota seeks perks for HQ Writer: CHATRUDEE THEPARAT Published: 18/09/2009 at 12:00 AM The Japanese automaker Toyota could move its regional head office to Thailand from Singapore if the Thai government eases some stringent requirements, especially related to financial transactions. Deputy Prime Minister Korbsak Sabhavasu said the proposal emerged yesterday during his talks with Kyoichi Tanada, the president of ToyotaMotor Thailand (TMT). Having its regional head office in Thailand would ensure more efficient management, Mr Korbsak quoted company executives as saying. Toyota in Thailand operates assembly plant, research and development centre and engineering affiliate. Mr Korbsak said existing regulations of the Bank of Thailand and Finance Ministry on financial transactions were one of the stumbling blocks for Toyota, as the company handled transactions worth billions of baht a year. The company expected a number of foreign firms would move their regional head offices to Thailand if the government agreed to relax the regulation. According to Board of Investment secretary-general Atchaka Brimble,the board has set up a committee to fine-tune existing regulations on regional operating headquarters (ROH) to increase Thailand's competitiveness against Malaysia, Singapore and Hong Kong. Currently, the ROH programme is one of the categories being actively promoted by the board in a bid to draw foreign investment, she said. In a related development, Mr Korbsak said Toyota called on the government to direct state banks such as Small Business Credit Guarantee Corporation to help guarantee a portion of down payments for Thai buyers in order to improve sales of pickup trucks, which have fallen by about 30% this year. This would also help the parts industry, as more than 90% of parts for pickups are made in Thailand, Toyota said. Link: http://www.bangkokpo...ks-perks-for-hq Link to comment Share on other sites More sharing options...
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