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Thursday May 8, 10:01 AM
Honda Invests in Vehicle R&D Centre in ThailandBANGKOK, May 8 Asia Pulse - Giant Japanese automaker Honda is to build a vehicle research and development centre for Asia and Oceania in Thailand, according to Deputy Prime Minister and Industry Minister Suwit Khunkitti. Speaking after presiding over a ceremony to lay a foundation stone for the centre conducted by Asia Honda Co, Mr. Suwit said the facility to be operated by Honda R&D Asia-Pacific Co was the fourth such complex located outside Japan.
It was expected that the centre would be completed and begin operations in the first half of 2009. Mr. Suwit suggested that such investment would help develop and upgrade the competitiveness of the Thai auto industry in terms of overall research and development, as well as the development of auto parts in particular. Currently, the global economy had changed as the sub-prime lending crisis in the US had repercussions on other regions. But Asia, he said, still had much room for further expansion. The competition in various business sectors - including vehicles - had grown to be more intense. So, operators in the industrial sector needed to rely upon R&D for the industry to adapt to the changing business environment. Investment in building the centre by Honda would confirm other automakers' confidence in the Thai economy and they may consider committing to further investment in the country. Such development would lead to new employment and a transfer of technology, and help boost the country's competitiveness, he said. (TNA-OANA)
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