OPIC EVP Meets with Thailand Officials and Business Leaders in Visit to Promote U.S. Investment in Southeast Asia
July 16, 2018
BANGKOK – Today, Executive Vice President of the U.S. government’s Overseas Private Investment Corporation (OPIC) David Bohigian visited Thailand to promote U.S. investment in Southeast Asia and the greater Indo-Pacific, meeting with senior government officials and business leaders from U.S.-based companies.
“Building on 200 years of great and good friendship, the U.S. seeks to further our partnership with Thailand through infrastructure investments that enhance regional connectivity and drive economic growth,” said Bohigian. “The Overseas Private Investment Corporation (OPIC) is eager to support more projects that adhere to strong labor and environmental standards, while providing lasting benefits to the people of Thailand and the region.”
Thailand is in line to become the next chair of the Association of Southeast Asian Nations (ASEAN), with a central role in regional development and connectivity.
Bohigian met with Minister Dr. Kobsak Pootrakool from the Office of the Prime Minister, Minister of Industry Uttama Savanayana, Deputy Permanent Secretary Dumrong Kraikruan of the Ministry of Foreign Affairs, Ex-IM Bank President Pisit Serewiwattana, as well as U.S. business leaders from the region.
OPIC, the U.S. Government’s development finance institution, supports investment in development in emerging markets around the world and has $4 billion invested across the Indo-Pacific in projects that are expanding access to energy, infrastructure and other sectors.
As part of his National Security Strategy, President Trump highlighted the need for a modernized approach by the U.S. government to development finance to help grow aspiring partners, promote economic relationships, and increase investment in regions important to American interests.
The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity fund managers.
OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.