[evammaUselp]

Thailand needs to attract more first-tier investors who can benefit from the country's strong supply chain for several sectors, according to Industry Minister M.R. Pongsvas Svasti.

"Thailand's supply chains in the electronics, automotive and machinery sectors are the best in the Asean region, and we think this is our strength," M.R Pongsvas said at a seminar on the Asean Economic Community.

He said small and medium enterprises would benefit from the increased development that would accompany the presence of more large businesses.

Meanwhile, Thai businesses which are not able to cope with increasing costs and higher wages will need to adapt their production bases to other countries, he said.

"Reporters like to use the word 'relocate', but I don't want to use it because it's actually an adaptation."

The Industry Ministry plans to hold 75 seminars covering 45 provinces on developing SMEs.

It hopes to attract 8,000 businesses within this year.