Caretaker Finance Minister Thanong Bidaya and Board of Investment (BoI) secretary-general Satit Chanjavanakul were present at the meeting, which was called to discuss the company's expansion plans in the region.

Somkid said Hitachi plans to increase its investment in Asia, especially in Thailand and China, expanding its hard-disk drive production facilities at a cost of $750 million to $1 billion.

"We listened to them to see what kind of government support they need," he said.

Somkid is optimistic Hitachi will boost its hard-disk investment in Thailand.

"This is a good sign that in the next three years more than $1 billion from Hitachi may enter the country," he said.

Somkid said it was beneficial to invite top executives from multinational companies to discuss their requirements.

Thailand is actively seeking more foreign investment as the amount channelled through the BoI this year is expected to reach only Bt500 billion, well below the original target of Bt700 billion, due to the overall economic deceleration.

Somkid said after the meeting yesterday that Hitachi would conclude the investment plan by applying for privileges from the BoI.

The government has adjusted its strategy to invite executives from multinational companies with a presence in Thailand to hear what they need for further expansion.

For instance, Somkid recently met executives from US energy company Chevron and from Seagate, the American technology product company, to discuss business projects. Seagate plans to organise a conference in Thailand soon, during which the government plans to meet top executives from the international companies taking part.