Govt to consider BoI scheme to boost human resources, woo foreign investment

[snoop1130]

Govt to consider BoI scheme to boost human resources, woo foreign investment

By THE NATION

 

 

The council of economic ministers will consider on Friday (September 6) a proposal put forward by the Board of Investment (BoI) to develop human resources and offer incentives to foreign investors, Deputy Prime Minister Somkid Jatusripitak said on Thursday.

 

He was speaking at a seminar on the country’s economy hosted by the Thammasat Economics Association.

 

One of the BoI packages will focus on wooing digital business, while other will focus on wooing foreign firms to set up personnel-training centres in Thailand under the partnership with the local institutes. He added that many multinational firms have spoken to him about plans to expand investment in Thailand, which they regard as an Asean investment hub. The minister has also called on coalition parties to join forces to help materialise the government’s policies. 

 

Somkid also said that the government is working hard on widening online access via schemes such as the internet village project and is promoting the rollout of advanced telecom technology as well as artificial intelligence and 5G technology. Hence, he said, it is time for companies to adopt advanced technology to reinforce their operations. 

 

In his speech, he also explained that Thailand has to depend more on the local economy to reduce its exposure to external risks and volatility, adding that he believes the economy will expand in the fourth quarter thanks to the government’s recently launched stimulus packages.

 

Source: https://www.nationthailand.com/business/30375875

 

-- © Copyright The Nation Thailand 2019-09-05

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[Emdog]

"... wooing foreign firms to set up personnel-training centres in Thailand under the partnership with the local institutes."

Tacit admission Thai "education system" is total waste of time and money. I know nearly every firm requires some specialized instruction to train employees, but they shouldn't have to start at ground zero with 20ish employees

[Oziex1]

Every week a new plan to attract foreign investment, are they following through with anything solid. 

[Geonoise]

being nice to foreigners and accommodate them would be helpful as well !

[RichardColeman]

16 hours ago, snoop1130 said:

In his speech, he also explained that Thailand has to depend more on the local economy to reduce its exposure to external risks and volatility

Translation : More debt for Thais

16 hours ago, snoop1130 said:

adding that he believes the economy will expand in the fourth quarter thanks to the government’s recently launched stimulus packages.

 

Translation : Tow the company line in the face of increasing reality

[TallGuyJohninBKK]

4 hours ago, Oziex1 said:

Every week a new plan to attract foreign investment, are they following through with anything solid. 

 

Yes, an online guide to the complexities and vagaries of having to file TM30 reports every time their foreign staff needs to go to the bathroom...  

[TallGuyJohninBKK]

1 hour ago, Geonoise said:

being nice to foreigners and accommodate them would be helpful as well !

 

Dreamer!!!  

[Rama]

oh, and by the way, make sure your foreign employees file their TM 30 every day.....

[Srikcir]

17 hours ago, snoop1130 said:

He added that many multinational firms have spoken to him about plans to expand investment in Thailand, which they regard as an Asean investment hub.

It's only Thailand that considers itself the ASEAN hub.

The 2019 Digital Economy Report ranked Indonesia #5 among many European nations while Thailand ranked #42 out of a total (46) nations in the study that did not include other ASEAN members.

Thailand had less than 10% of small firms and only about 20% of large firms receiving online orders in the same year.

https://forum.thaivisa.com/topic/1121993-thailand-fares-badly-in-business-digitalisation-unctad/?utm_source=newsletter-20190906-0559&utm_medium=email&utm_campaign=news

This study might actually behoove foreign investment in the other ASEAN members and avoid Thailand's presumed failure thus far.

[DrTuner]

Scrap BOI and appy it's rules to all companies. FDI in SME would soar.