Foreign Ministry’s new job is to woo foreign investment, Prayut says

[webfact]

Foreign Ministry’s new job is to woo foreign investment, Prayut says

By The Nation

 

Foreign Minister and Deputy PM Don Pramudwinai

 

Prime Minister Prayut Chan-o-cha said on Friday (August 7) that he has added the deputy prime minister’s post to Foreign Minister Don Pramudwinai’s portfolio because he wants to upgrade the Foreign Ministry’s role and have it take care of the economy as well as foreign affairs. 

 

He said in the post-Covid era, the Foreign Ministry should also focus on investment promotion and woo foreign investors. 

 

The premier added that he wanted to see the Labour Ministry play a key role in driving the economy, which is why it needs a deputy minister. 

 

Prayut named former government spokesperson Narumon Pinyosinwat as deputy to new Labour Minister Suchart Chomklin, who is also a Chonburi MP. 

 

As part of the Cabinet reshuffle, former director of PTT Global Chemical Supattanapong Punmeechaow has been handed the posts of deputy PM and energy minister, while former Kasikornbank president Predee Daochai has been named finance minister. 

 

Action Coalition for Thailand Party executive, Anek Laothamatas, has been named minister of higher education, science, research and innovation, while Palang Pracharath Party secretary-general Anucha Nakasai has been appointed as PM’s Office Minister.

 

Source: https://www.nationthailand.com/news/30392603

 

-- © Copyright The Nation Thailand 2020-08-07

 

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[YetAnother]

2 hours ago, webfact said:

and have it take care of the economy as well as foreign affairs. 

Candidate cupboard pool must be pretty bare

[Matzzon]

6 hours ago, webfact said:

Foreign Ministry’s new job is to woo foreign investment, Prayut says

Just because the guy already knows that he can´t stand on his own legs.

[HOAX]

10 hours ago, webfact said:

...and woo foreign investors.

You want woo AND woowoo? ????‍♂️

 

Scrap the anti-foreigner woowoo first, then... perhaps 

[yellowboat]

Why isn't Don wearing his plaid suit and white loafers? I was a local investor and did not feel woo'd.  The article is rather uncompelling to say the least, and neighboring countries off better returns, less immigration hassles, cheaper alcohol and more interesting opportunities.  

Thailand should try to get its house in order at home before talking to foreigners overseas.   As usual, they are just looking for suckers. 

[Isaan sailor]

He’s got his work cut out for him, alright.  Yesterday, I bought an expensive pair of gel padded riding gloves for cycling.  Not easy to find XL size here in Isaan.  The gloves were made in Cambodia for Specialized, an American bike manufacturer.  So my high quality gloves began life in Cambodia, then had mark ups in America, then marked up again in Thailand.

Even if they came from Cambodia direct to Thailand—the point is, Thailand will continue to miss out on new investments in manufacturing—due to their unstable currency, arcane visa laws and tax structure.  And with more and more American companies leaving China, a great opportunity will fizzle out.

[Nobbie49]

What a brilliant idea.  Dear foreign investors, please come to Thailand, spend 14 days in our expensive quarantine facilities at your cost sorry. Then give us 51% of your money and then errrr...we'll see what Immigration can do for or rather what you can do for Immigration.  Hey hey where are you going? 

[Bender Rodriguez]

crazy idea .... put a FARANG in that job with farang ideas knowing what farang like speaking farang language

 

instead of a thai fossil

[Deli]

5 hours ago, Isaan sailor said:

He’s got his work cut out for him, alright.  Yesterday, I bought an expensive pair of gel padded riding gloves for cycling.  Not easy to find XL size here in Isaan.  The gloves were made in Cambodia for Specialized, an American bike manufacturer.  So my high quality gloves began life in Cambodia, then had mark ups in America, then marked up again in Thailand.

Even if they came from Cambodia direct to Thailand—the point is, Thailand will continue to miss out on new investments in manufacturing—due to their unstable currency, arcane visa laws and tax structure.  And with more and more American companies leaving China, a great opportunity will fizzle out.

Don't forget high labor costs for little efficiency  in comparison to other counyries in the area

[Deli]

... and don't try to run a Marathon here !

[trucking]

 

On 8/7/2020 at 12:38 AM, webfact said:

He said in the post-Covid era, the Foreign Ministry should also focus on investment promotion and woo foreign investors. 

 

[Redline]

What next?  I say get the best of the bar girls involved-it may actually work ????

[mikebell]

Watched the video on moving to Malaysia and got a pang when they talked about OWNING your own home after having mine snatched by a Thai ex-wife.

[Sydebolle]

Investments in another country are based on various factors like availability of skilled labour, facilitation of stay and work permits for expatriate nationals and investment protection - i.e. functioning neutral unbiased law. 

Well, skilled labour is almost impossible to get and if available, they are overpriced. In many cases there is zero loyalty and a labour law lenient to reprimand wrong-doing employees. 

Stay and work permits; too many forum choices are there confirming, that Thailand operates still in the 19th century; most offices manned with either overworked or under qualified staff, little to no English (in a total non-Thai environment, that is) and ridiculous rules invented by the file-handling officer like photographs of the permit seeker at a desk pretending to work (which is illegal since permit not issued yet), picture of the building number outside etc. etc. etc. 

As far as the juristic side is concerned it might be of interest, that the bending of Thai law is more than well documented all over the planet due to the loose interpretation combined with the internet. The rich oligarch elite still does what they want, irrespective of laws - get all those spoilt brats bluntly ignoring anything to face the music, lock them up in jail and throw away the key. It is done with mushroom thieves but further up the ladder things are financially facilitated - it seems.  

Get these three basics in order and then we'll address the rampant corruption everywhere, be it i.e. customs etc. next ???? 

[CANSIAM]

Does Don have a Military uniform as well....

[WhatsNext]

I just want my name on a chanote and I'll invest 8 million baht in a villa. No dangerous lease, 49% owned Thai companies or land in name of a girlfriend just to have a place to live. Woo me, thanks

[Laughing Gravy]

Maybe changing the typical approach over the last few decades at least and not just give us your money, you can't own anything and we still have to own more than you. This might make a change and actually make investors think, I will put money into the country.

 

The way investors have been treated in the past has not been very good. Will they do this. I doubt it very much ass changing that mindset takes a lot of work and possibly generations.