Kingdom must act now to woo post-Covid investors: Viboon

By The Nation

 

Viboon Kromadit

 

Industrial park operator Amata wants the government to stabilise the economy by launching a new measure to woo international investors and spending Bt1.9 trillion on recovery.

 

Viboon Kromadit, founder and executive director of Amata Corp PCL, warned Covid-19 would affect investments and change global production, since some countries would control the situation better than others.

 

Production bases and foreign direct investment would shift towards countries whose governments were stable and offering investment enhancing measures.

 

“Even though Thailand has a geographical advantage, our labour welfare and the government’s measures are still unclear. Indonesia, Vietnam, Laos and Myanmar will be better choices for investors,” Viboon warned.

 

“So Thailand has to amend its benefits.”

 

He said that the government also needed to stimulate domestic consumption by injecting Bt1.9 trillion into the system to elevate incomes in the agricultural sector.

 

Amata is implementing its own pandemic-response plan at its Amata Nakorn Industrial Estate in Chonburi and Amata City Industrial Estate in Rayong, which are located on 14,000 rai.

 

The company is inviting new investment either for purchase or rental as it remains committed to long-term investment at Amata’s industrial estates.

 

Amata shrugged off the slowdown of investment during the Covid-19 crisis, saying it was similar to the low season period in the first and second quarters that the company experiences every year.

 

Source: https://www.nationthailand.com/news/30386072

 

-- © Copyright The Nation Thailand 2020-04-16

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2 hours ago, webfact said:

launching a new measure to woo international investors

Why not just say China?

4 hours ago, webfact said:

Kingdom must act now to woo post-Covid investors: Viboon

 

4 hours ago, webfact said:

Viboon Kromadit, founder and executive director of Amata Corp PCL, warned Covid-19 would affect investments and change global production, since some countries would control the situation better than others.

Yes, global investment patterns will change and it is probably too late for Thailand, which in other circumstances could have been the leading economy in South East Asia. Our selfish, blundering, lying politicians have shown their true form and unless there are some major changes at the top (and I don'y mean simply going from one dinosaur to another) we will soon be joining African economies at the bottom of the world heap. So sad.

2 hours ago, rasmus5150 said:

Why not just say China?

If they changed house ownership rules and investment visas I might consider buying one. But as it stands.. no way lol. 

4 hours ago, webfact said:

by launching a new measure to woo international investors

Many European, Japanese and US companies have understood the limits of offshoring;
they will relocate, Thailand will therefore lose many factories

 

4 hours ago, webfact said:

and spending Bt1.9 trillion on recovery.

How weird ...
To give 5,000 baht to the poor in Thailand the PM does not find enough money;
on the other hand to try to revitalize the economy, the tap with cash is easily reopenable with all the drifts that we already know: the brown envelopes will swell again 

19 minutes ago, Drax said:

If they changed house ownership rules and investment visas I might consider buying one. But as it stands.. no way lol. 

After 97, they allowed some condos to be 100 foreign owned....only later to change it back to 49/51 hence foreigners could only sell their condos to Thais or those that set up a company....so even allowing land ownership now could be overturned at a whim any time in the future

Yes, come and invest in Thailand. We are now a democracy, but you of course know we are not. 
 

Sorry, Thailand. Countries will be looking to  invest in countries that really are striving to be better democracies. Not countries who are clearly still authoritarian and who seek closer ties to the CCP.

 

In saying that, Thailand can still be a hugely desirable location for foreign companies to set up, but only if they show sincere desire to change. I’d say the ball is still in Thailand’s court.
 

Now’s the time for Thailand to gamble on most of the world, or an authoritarian regime that’s crippling their economy at the moment because they tried to cover up a deadly virus. 

Until there's a vaccine Covid 19 is here to stay. So doing the hypothetical is great for the ego, but no one will invest in a country carrying Covid19. One thing at a time.

Edited April 16, 20206 yr by chainarong

There seems to be 1.9 Trillion Baht in Play. The PM says he has no money to help the people. Amata wants it to invest in Thailands production capacity. Don't know who any of these Companies re going to sell to? The Thai Government wants to use the 1.9 Trillion to bail out the elites. It never ceases to amaze me that the Government of all countries care so little about their people. 

How about getting rid of the obstacles for a foreigner to start a business in Thailand. IE need a Joint venture partner, need to employee 4 Thais for every foreigner work permit issued. 

 

In a world where jobs and investment are going to be scare over the next year or two the inefficient and xenophobic ways of Thailand's past are going to really hurt their economy going forward.