Thailand Expects $5B Investment From Google, Microsoft, Tesla For Data Centers, EV Manufacturing Facility

Thailand’s Prime Minister Srettha Thavisin has said he expects at least $5 billion in investments from three of the world’s tech titans in the coming years. Srettha’s remarks came as Thailand eyes more investments from the United States.

“Tesla is looking at building an EV (electric vehicle) manufacturing facility, while Microsoft and Google are looking at establishing data centers,” Srettha told reporters Sunday. He arrived in Thailand on Sunday after attending the United Nations General Assembly in New York.

Srettha did not provide details on whether each investor will provide $5 billion for their individual projects or if the amount will be divided among the companies. Tesla, Microsoft and Google did not immediately respond to International Business Times‘ request for comment.

In his speech at the UN General Assembly, Srettha said his administration will reach out to “friends and partners all over the world to forge closer ties of partnership through commerce, investment and trade agreements.”

Srettha met Microsoft and Google executives as he sought more investments from American companies to help boost Thailand’s declining economy. He said Google was in discussions with the country’s board of investment.

The prime minister said he would hold further discussions with Google executives again during the Asia Pacific Economic Cooperation (APEC) Economic Leaders’ meeting in San Francisco in mid-November.

“We met Estee Lauder chairman who asked about seaweed in Thailand, which is an important component in quality cosmetics, so we are studying this because raw material is crucial for setting up a factory,” the Thai PM said. “We are studying this because raw material is crucial for setting up a factory.”

Goldman Sachs is also reportedly looking to establish an office in Thailand.

Srettha shared a photo of him with JPMorgan CEO Jamie Dimon on X and wrote, “My message to Jamie is simple that ‘Thailand is open for investment.'”

Srettha said he had a “great discussion” with the Microsoft team about “the exciting future of cloud and opportunities for Thailand.”

About his meeting with Tesla CEO Elon Musk, the PM wrote, “Look forward to more inspirational successes of the #EV and #SpaceExploration breakthrough – for not only Thais but also the global community.”

Musk responded to the tweet, saying, “It was an honor to meet. Thailand has a very exciting future!”

Srettha, who is known for being one of his country’s property development leaders, came into power only last month. After taking over Thailand’s government, he said it was his goal to grow the country’s economy by 5% each year and foreign investment is one of the avenues through which this goal can be achieved.