PM Prayut satisfied with report that Thailand still world's best to start business

[webfact]

PM satisfied with report that Thailand still world's best to start business

 

 

BANGKOK, 29 January 2018 (NNT) - Prime Minister Gen Prayut Chan-o-cha is pleased with the latest report by an American media agency ‘U.S. News & World Report’ (U.S. News) which named Thailand the world's best to start a business. 

According to the report, out of 80 countries surveyed, Thailand is the best place to start a business in 2018. It is the second consecutive year Thailand has been given such a title. 

The report goes on to say that the Thailand is the 8th best investment destination among 24 others around the world. 

Gen Prayut said the ranking is the testament to the Thai government’s success in making Thailand an attractive investment destination. 

The report is in line with the World Bank’s publication ‘Doing Business 2018’ which moved Thailand from the world’s 46th most business friendly nation to number 26 this year. 

A simpler business registration process and cheaper business fees are said to have contributed to the significant improvement. 

The premier later said that, in addition to investment, Thailand is the world’s 5th, 9th and 4th best in higher education, solo traveling, and natural beauty respectively.

 

-- nnt 2018-01-29

[Cadbury]

I expect Kingsgate Mining once thought Thailand was the "world's best place to start a business" under the Australia - Thailand Free Trade Agreement.

That is until it PM Prayut stole their mine away from them using Article 44.

The world will be watching the outcome of the International Arbitration hearing.

http://www.smh.com.au/world/kingsgate-seeks-compensation-from-thailand-over-chatree-mine-closure-20170403-gvd0ue.html

Edited January 29, 2018 by Cadbury

[sup3r1or]

I don't know about this. Isn't it something among those lines that foreigners can't own 100% of business more than 3 years and must give a way, unless you become 49% owner later on, plus X number of workers you need to hire. 

[Darcula]

1st in business start-up, and 5th in the world for higher education?

 

How many click farm businesses were "easily" set-up to get that poll result?

[nikmar]

higher education??? Really?

[Misterwhisper]

Yawn...

[marinediscoking]

The original report stated it was one of the "easiest to establish a company" ie company formation. The government is really twisting what was really written initially.  Factually it is true company formation is done easily and completed quickly as long as there's 51% Thai ownership. The hard comes later getting a work permit and getting one in a Provence outside of Bangkok is near impossible without large under the table kickbacks. 

Even harder is company dissolution. 

[holy cow cm]

If any substance to it, he nor his Junta circle had anything to do with it. Thailand is plainly popular because of the Thai Folk and general atmosphere. Totally unrelated to them.  It may be the easiest to set up a business,  cannot fathom the best since ownership is restricted to 49% and even the job descriptions are limited for what foreigners can do. He pats his back way too much for someone so unpopular 

Edited January 29, 2018 by holy cow cm

[Kaoboi Bebobp]

"New business density [in Thailand] is one of the lowest in the region, leaving room for hopeful entrepreneurs."

 

Translation: The smart ones moved on to Vietnam, the suckers stayed behind.

 

Edited January 29, 2018 by Kaoboi Bebobp

[toughlove]

Outstanding and deserves recognition by a respectable international report and further legitimizes the government. I see prayut continuing the fantastic work for many many years.

But of course it's expected the desperates without a bean will continue the 50 year old brain dead mantra "neve invest in Thailand what you can't walk away blah blah"

I can see this thread going 200 posts with jaded expats having a big crying session [emoji23]

[toughlove]

Outstanding and deserves recognition by a respectable international report and further legitimizes the government. I see prayut continuing the fantastic work for many many years.

But of course it's expected the desperates without a bean will continue the 50 year old brain dead mantra "neve invest in Thailand what you can't walk away blah blah"

I can see this thread going 200 posts with jaded expats having a big crying session [emoji23]

[toughlove]

I expect Kingsgate Mining once thought Thailand was the "world's best place to start a business" under the Australia - Thailand Free Trade Agreement.
That is until it PM Prayut stole their mine away from them using Article 44.
The world will be watching the outcome of the International Arbitration hearing.
http://www.smh.com.au/world/kingsgate-seeks-compensation-from-thailand-over-chatree-mine-closure-20170403-gvd0ue.html

Anybody who invested in mines in 3rd world countries knows 100% they remain in the business by avoiding environmental impact studies and closure in the way of astronomical sized brown envelopes.

The PM knocked that corruption on the head like he has been constantly doing for years now

The mine will reopen its suspended not stolen but the goal posts for Kingsgate will have taken a adjustment

Good move!

[jonclark]

1 minute ago, toughlove said:

Anybody who invested in mines in 3rd world countries knows 100% they remain in the business by avoiding environmental impact studies and closure in the way of astronomical sized brown envelopes.

The PM knocked that corruption on the head like he has been constantly doing for years now

The mine will reopen its suspended not stolen but the goal posts for Kingsgate will have taken a adjustment

Good move!

Actually it was the PMs use of article 44 which is the entire reason for the problems, he sidestepped legal process as it was length and inconvenient. The outcome is now very likely to be high compensation cost incurred by the Kingdom of Thailand as a result of the PM impatience or poor advisement, or more likely both!

 

Arbitration is most likely to favour Kingsgate and their requests. 

 

No goal posts have been moved. In fact they remain in exactly the same place as part of the Thai / Australia FTA, which is why this foreign entity can challenge the use of article 44, and potentially over turn it...but regular Thais can't. 

 

Strange old world eh? 

[toughlove]

Actually it was the PMs use of article 44 which is the entire reason for the problems, he sidestepped legal process as it was length and inconvenient. The outcome is now very likely to be high compensation cost incurred by the Kingdom of Thailand as a result of the PM impatience or poor advisement, or more likely both!
 
Arbitration is most likely to favour Kingsgate and their requests. 
 
No goal posts have been moved. In fact they remain in exactly the same place as part of the Thai / Australia FTA, which is why this foreign entity can challenge the use of article 44, and potentially over turn it...but regular Thais can't. 
 
Strange old world eh? 

Sounds good on paper but any legal judgment will be ignored.

I'm guessing you have never invested in 3rd world mines

Perhaps now when Kingsgate returns they will abide by environmental impact studies, pay the correct taxes and genuine work safety standards in place. The next time a Boulder rolls down a hill and kills 5 workers the mine will be shut instead keeping it hush hush

I have owned shares in Africa as well as Kingsgate and they are all a dodgy bribe paying, circumnavigate the law execs that only care about share prices.

[toughlove]

Actually it was the PMs use of article 44 which is the entire reason for the problems, he sidestepped legal process as it was length and inconvenient. The outcome is now very likely to be high compensation cost incurred by the Kingdom of Thailand as a result of the PM impatience or poor advisement, or more likely both!
 
Arbitration is most likely to favour Kingsgate and their requests. 
 
No goal posts have been moved. In fact they remain in exactly the same place as part of the Thai / Australia FTA, which is why this foreign entity can challenge the use of article 44, and potentially over turn it...but regular Thais can't. 
 
Strange old world eh? 

Have a read of this. Good on him for using 44

https://www.globalwitness.org/en/campaigns/oil-gas-and-mining/#more

"Corruption and fraud in the oil, gas and mining industries keeps poor countries poor and props up brutal regimes. Companies and governments must end the secrecy and bring deals and profits into the open'

[Thian]

3 hours ago, sup3r1or said:

I don't know about this. Isn't it something among those lines that foreigners can't own 100% of business more than 3 years and must give a way, unless you become 49% owner later on, plus X number of workers you need to hire. 

I thought the same plus the foreigner had to buy his/her workingpermit first for 2 million? baht a year iirc....

But i just learned that only americans can own their company for the full 100%....

 

 

[YetAnother]

3 hours ago, webfact said:

PM satisfied

why even bother reading about this guy ?

[brucec64]

4 hours ago, toughlove said:

Outstanding and deserves recognition by a respectable international report and further legitimizes the government. I see prayut continuing the fantastic work for many many years.

But of course it's expected the desperates without a bean will continue the 50 year old brain dead mantra "neve invest in Thailand what you can't walk away blah blah"

I can see this thread going 200 posts with jaded expats having a big crying session

US News is a third rate news source at best, with questionable results. But the junta, whose popularity is nosediving, as reported in the BP today, will grasp at anything.
 

U.S. News is best known today for its influential Best Colleges and Best Hospitals rankings, but it has expanded its content and product offerings in education, health, money, careers, travel, and cars. The rankings are popular in North America but have drawn widespread criticism from colleges, administrations, and students for their dubious, disparate, and arbitrary nature.

 

https://en.wikipedia.org/wiki/U.S._News_%26_World_Report

 

 

[RichardColeman]

Funny, when outside source says how well Thailand is doing, its 'see how well we are doing , the foreigners love us', but when Thailand is criticized on corruption and voting, it 'stupid foreigners don't understand'

[heybuz]

16 hours ago, toughlove said:

Have a read of this. Good on him for using 44

https://www.globalwitness.org/en/campaigns/oil-gas-and-mining/#more

"Corruption and fraud in the oil, gas and mining industries keeps poor countries poor and props up brutal regimes. Companies and governments must end the secrecy and bring deals and profits into the open'

thailand or the said company are not even mentioned in the above so whats the point.also the thai government did the environmental study and found all to be ok,

[yellowboat]

18 hours ago, webfact said:

Gen Prayut said the ranking is the testament to the Thai government’s success in making Thailand an attractive investment destination. 

Find the Thai government to be a pain in the back side.  Find the right Thai companies and Thai people to be extremely helpful.   There are some things you can accomplish in Thailand that are difficult to accomplish anywhere else.  This has been the case long before 2014. 

[shady86]

Another reason why I should stay in power longer says PM. 

[heybruce]

The evaluation is simplistic:

 

"The countries scored highest among more than 6000 business-decision makers in a compilation of five country attributes: affordable, cheap manufacturing, bureaucratic, cheap manufacturing costs, connected to the rest of the world, and easy access to capital."    https://www.usnews.com/news/best-countries/best-start-a-business

 

I suspect the 6000 business-decision makers have little experience in Thailand.  There is no mention of corruption, restrictions on foreign business owners, rule-of-law (especially when a small business owner has a legitimate complaint against a well-connected business), and other real-world factors regarding running a business in Thailand.

 

But I suppose it's easy to start a business in Thailand.  Overcoming the cultural and legal impediments in order to make the business a success, and keeping the business under the control of the foreign owner, is a different matter.

[Surasak]

21 hours ago, nikmar said:

higher education??? Really?

Which floor is it on now?

[shady86]

Being someone who started company here 3 years ago, you need to get someone who knows the process and Thai language is a must. Cost wise maybe its cheap but compared to countries like Singapore and Malaysia, everything is so complicated here unless you are making big bucks investment where BOI will take care of everything. Other than that be prepared to do tons of paperworks, super long waiting time and lots of money for a consultant.

[carmine]

21 hours ago, nikmar said:

higher education??? Really?

Yes, its a total and utter nonsense.  Education levels are appalling.

[Sydebolle]

Tell Mr Prayut to go for cosmetic face surgery so he cannot be easily recognized by Khon Thai.

Then visit the DBD (Dept of Business Development) - to start with and count the trees to be felled for the paperwork in registering a company.

Once done please carry on to the immigration dealing with aliens for a non-immigrant type B visa; no visa type can be transformed into such a visa so you leave the country. The correct visa is issued based on company papers and confirmation of employment (yes, I had to put it in writing, that I agreed to hire myself). Organization chart needs to show staff (which you could not have hired yet), a picture of the office, the building and the house number where the company is registered. 

 

Once back in the land see the experts at the labour department where not a single soul speaks a word of non-Thai (at the alien desk). More stupid questions, forms, photos, copies and copies of copies, all signed "verified true and correct" and then "under consideration". 

I could go on and everyone who worked here for more than three decades will know the story - but being the world's best place to start business is certainly, definitely and ultimately not Thailand! 

Meanwhile retired and just spending money = paradise! Working and making money here = go elsewhere! 

[wavemanwww]

Prayut said it is so so must be true otherwise Section 44 will be used? LMAO

[Bluespunk]

On 1/29/2018 at 10:42 AM, Cadbury said:

I expect Kingsgate Mining once thought Thailand was the "world's best place to start a business" under the Australia - Thailand Free Trade Agreement.

That is until it PM Prayut stole their mine away from them using Article 44.

The world will be watching the outcome of the International Arbitration hearing.

http://www.smh.com.au/world/kingsgate-seeks-compensation-from-thailand-over-chatree-mine-closure-20170403-gvd0ue.html

In the case of the current govt here, they will be watching with their hands over their ears, chanting nah nah nah nah nah....

[metisdead]

Off topic baiting posts have been removed.