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Thai professionals and entrepreneurs are being warned to upgrade their skills in preparation for strongercompetition in the face of greater movement of skilled labour in Asean and other Asian countries, especially China and India, in the next four to five years.

Prime Minister Abhisit Vejjajiva has declared Thailand's vision to be the automotive production hub of Asia. He told the World Economic Forum in Davos, Switzerland, yesterday that the country has geared its policy towards becoming the region's major auto producer. Mr Abhisit told the ``Thailand and the Global Automotive Industry'' session that the vision was buoyed by the government's competitive export-oriented industry well known for producing high-quality one-tonne pickup trucks, eco-cars and motorcycles.

Limited production capacity is the main concern for Mitsubishi Motors Thailand if Nissan moves some of its Navara pickup truck production to the local Mitsubishi plant.

Cooling economic growth forecast at 4% this year means local automobile sales will not match last year's record pace, but should still rise 7.4% to 860,000 units, says Toyota Motor Thailand. Economic growth of nearly 7% last year helped push up industry-wide sales by 45.8% to 800,357 units, smashing the record of 703,432 units set in 2005.

The recent road show to the US held by Thailand Board of Investment (BOI) showed the country received confirmation from giant American investors of their investment expansion projects, according to Minister of Industry Chaiwuti Bannawat who led the road show.

Mr. Vasin Vanichvoranun, Executive Vice President, KASIKORNBANK and Mrs. Somporn Juangroongruengkit, President, Thai Summit PK Corporation Co., Ltd. and Groups jointly signed a financial agreement worth 1428.50 million baht to support the major auto part manufacturer in Thailand. Thai Summit PK Corporation Co., Ltd. is largest Thai automotive manufacturing supplier in South East Asia. The event was recently held at Pattana Golf and Sports Resort, Sri Racha, Chonburi.