9-3-2024 (BANGKOK) Thailand’s government has revealed that Michelin, the renowned French tyre manufacturer, is set to make a substantial investment of 300 million euros (equivalent to US$328 million) in the Southeast Asian nation. This investment is aimed at boosting production capacity over the course of the next three years.
According to a statement released by the government during Prime Minister Srettha Thavisin’s visit to France, where he held discussions with Michelin executives, the tyre giant has already invested over one billion euros in Thailand. The country currently hosts five Michelin plants, employing a workforce of 8,000 individuals.
In addition to Michelin’s plans, the Thai government also unveiled that Accor, Europe’s largest hotel group, has expressed interest in expanding its business operations within Thailand. The details regarding Accor’s expansion plans were not provided in the statement.
