george Posted June 14, 2007 Share Posted June 14, 2007 BoI intensifies overseas lobbying of foreign investors BANGKOK: -- Thailand's government-related Board of Investment (BoI) is intensifying its role in explaining the country abroad, and this month begins a new thrust explaining the current situation in Thailand to investors overseas in a bid to restore foreign investment confidence, according to Deputy Prime Minister and Industry Minister Kosit Panpiemras. The government must explain to investors that the country's political issues would be only short-term, said Mr. Kosit. Discussions had been held with BoI officials and they would have to work harder. BoI officials will travelling later this month to 'sell' Thailand as being in a transition period towards a general election that will clarify the future in a positive way, and that there are no further obstacles to affect the country's economic fundamentals, he said. Mr. Kosit said US ambassador Ralph Boyce Jr. on Tuesday led senior executives from 10 leading American firms to meet with him and Deputy Industry Minister Piyabutr Cholvijarn regarding investment in Thailand. The deputy prime minister said that none of the American companies planned to reduce or postpone their investment here. US industrial giant Dow Chemical has expressed interest in increasing investment in five more petro-chemical projects in Thailand and urged the industry ministry to help smooth the way, Mr. Kosit said. Combined investment in the projects amounts to US$1-2 billion. --TNA 2007-06-14 Link to comment Share on other sites More sharing options...
observer21 Posted June 14, 2007 Share Posted June 14, 2007 BoI intensifies overseas lobbying of foreign investorsBANGKOK: -- Thailand's government-related Board of Investment (BoI) is intensifying its role in explaining the country abroad, and this month begins a new thrust explaining the current situation in Thailand to investors overseas in a bid to restore foreign investment confidence, according to Deputy Prime Minister and Industry Minister Kosit Panpiemras. The government must explain to investors that the country's political issues would be only short-term, said Mr. Kosit. Discussions had been held with BoI officials and they would have to work harder. BoI officials will travelling later this month to 'sell' Thailand as being in a transition period towards a general election that will clarify the future in a positive way, and that there are no further obstacles to affect the country's economic fundamentals, he said. Mr. Kosit said US ambassador Ralph Boyce Jr. on Tuesday led senior executives from 10 leading American firms to meet with him and Deputy Industry Minister Piyabutr Cholvijarn regarding investment in Thailand. The deputy prime minister said that none of the American companies planned to reduce or postpone their investment here. US industrial giant Dow Chemical has expressed interest in increasing investment in five more petro-chemical projects in Thailand and urged the industry ministry to help smooth the way, Mr. Kosit said. Combined investment in the projects amounts to US$1-2 billion. --TNA 2007-06-14 Oh, i see everything is ok then - just a bad dream Link to comment Share on other sites More sharing options...
The Vulcan Posted June 14, 2007 Share Posted June 14, 2007 Combined investment in the projects amounts to US$1-2 billion. Petty cash! Link to comment Share on other sites More sharing options...
bkkandrew Posted June 14, 2007 Share Posted June 14, 2007 (edited) My goodness, what a poisened chalice of a job! Right, here goes the pitch: So Mr CEO, you are concerned that investing in Thailand would be risky? Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? Is that the time? I must be off... Edited June 14, 2007 by bkkandrew Link to comment Share on other sites More sharing options...
observer21 Posted June 14, 2007 Share Posted June 14, 2007 My goodness, what a poisened chalice of a job!Right, here goes the pitch: So Mr CEO, you are concerned that investing in Thailand would be risky? Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? Is that the time? I must be off... No, no! wake up man, its all been a bad dream. Were you not listening everthing is fine Link to comment Share on other sites More sharing options...
bkkandrew Posted June 14, 2007 Share Posted June 14, 2007 My goodness, what a poisened chalice of a job!Right, here goes the pitch: So Mr CEO, you are concerned that investing in Thailand would be risky? Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? Is that the time? I must be off... No, no! wake up man, its all been a bad dream. Were you not listening everthing is fine Perhaps that is what the hapless soul left to carry out this hard sell will say to the CEOs! Link to comment Share on other sites More sharing options...
The Vulcan Posted June 14, 2007 Share Posted June 14, 2007 My goodness, what a poisened chalice of a job!Right, here goes the pitch: So Mr CEO, you are concerned that investing in Thailand would be risky? Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years So, everything in order eh? Link to comment Share on other sites More sharing options...
observer21 Posted June 14, 2007 Share Posted June 14, 2007 This guy should have been present at the recent 'property overseas show' held in London recently. Seems like nobody there was paying attention, as not one person was persuaded to buy a second home in Thailand. No trouble here man - just gossip, its all sorted Link to comment Share on other sites More sharing options...
Backpack_thailand Posted June 14, 2007 Share Posted June 14, 2007 So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! "What you mean it's not an attractive option..??" Link to comment Share on other sites More sharing options...
JR Texas Posted June 15, 2007 Share Posted June 15, 2007 So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! "What you mean it's not an attractive option..??" JR Texas: Same BS........another turn of an Everly Brothers tune........Dream, dream, dream, dream.......dream, dream, dream, dream....... Seriously.....they continue to focus on MNCs (they only create a few jobs)......fine, but they are going to Vietnam........the smart thing to do would be to focus on small scale investment (the sector where most jobs are created) by foreigners.......open up the market to them (visa a major change in the visa/business rules) and real growth and job creation will occur. But that will take a major shift in thinking and that requires the ability to think, so.........dream, dream, dream, dream........dream, dream, dream, dream......... Link to comment Share on other sites More sharing options...
OlRedEyes Posted June 15, 2007 Share Posted June 15, 2007 (edited) I miss the old days 'Back then' there were a lot of funnier news items. What happened to hubs and space programs Edited June 15, 2007 by OlRedEyes Link to comment Share on other sites More sharing options...
jayjayjayjay Posted June 15, 2007 Share Posted June 15, 2007 Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... 'nough said Link to comment Share on other sites More sharing options...
Steely Dan Posted June 15, 2007 Share Posted June 15, 2007 So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! "What you mean it's not an attractive option..??" JR Texas: Same BS........another turn of an Everly Brothers tune........Dream, dream, dream, dream.......dream, dream, dream, dream....... Seriously.....they continue to focus on MNCs (they only create a few jobs)......fine, but they are going to Vietnam........the smart thing to do would be to focus on small scale investment (the sector where most jobs are created) by foreigners.......open up the market to them (visa a major change in the visa/business rules) and real growth and job creation will occur. But that will take a major shift in thinking and that requires the ability to think, so.........dream, dream, dream, dream........dream, dream, dream, dream......... What, you mean actually let foreigners many married to and supporting Thai wives be allowed to do other work than teach English for a pittance? Allow foreigners to own anything other than a minority stake in a bar they can't even serve in? I'm afraid we will be well into a downturn by the time rules are finallly changed and when the world emerges from recession Vietnam will be the new kid on the block for foreign investment. Link to comment Share on other sites More sharing options...
quiksilva Posted June 15, 2007 Share Posted June 15, 2007 (edited) So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! Incorrect, 100% foreign owned manufacturing firms can own freehold land in registered industrial estates and if promoted by the BOI they can even own land outside. Foreign investors are even permitted to own hotels (of no less than 100 rooms) if promoted by the BOI, and many do and are still buying. Edited June 15, 2007 by quiksilva Link to comment Share on other sites More sharing options...
BossHogg Posted June 15, 2007 Share Posted June 15, 2007 So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! Incorrect, 100% foreign owned manufacturing firms can own freehold land in registered industrial estates and if promoted by the BOI they can even own land outside. Foreign investors are even permitted to own hotels (of no less than 100 rooms) if promoted by the BOI, and many do and are still buying. Yes.....at the moment they can.But it takes a sizeable investment into a country with laws and government changing like the wind....what would you do with your sizeable investment fund? Link to comment Share on other sites More sharing options...
chinthee Posted June 15, 2007 Share Posted June 15, 2007 So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! "What you mean it's not an attractive option..??" JR Texas: Same BS........another turn of an Everly Brothers tune........Dream, dream, dream, dream.......dream, dream, dream, dream....... Seriously.....they continue to focus on MNCs (they only create a few jobs)......fine, but they are going to Vietnam........the smart thing to do would be to focus on small scale investment (the sector where most jobs are created) by foreigners.......open up the market to them (visa a major change in the visa/business rules) and real growth and job creation will occur. But that will take a major shift in thinking and that requires the ability to think, so.........dream, dream, dream, dream........dream, dream, dream, dream......... The availability of venture capital, private equity and angel equity is the primary driver of entrepreneurial new businesses. If you look at the last few years, almost all the VC funds have withdrawn from Thailand and the VC environment has virtually dried up. This is not a good sign. Link to comment Share on other sites More sharing options...
midas Posted June 15, 2007 Share Posted June 15, 2007 So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! "What you mean it's not an attractive option..??" JR Texas: Same BS........another turn of an Everly Brothers tune........Dream, dream, dream, dream.......dream, dream, dream, dream....... Seriously.....they continue to focus on MNCs (they only create a few jobs)......fine, but they are going to Vietnam........the smart thing to do would be to focus on small scale investment (the sector where most jobs are created) by foreigners.......open up the market to them (visa a major change in the visa/business rules) and real growth and job creation will occur. But that will take a major shift in thinking and that requires the ability to think, so.........dream, dream, dream, dream........dream, dream, dream, dream......... The availability of venture capital, private equity and angel equity is the primary driver of entrepreneurial new businesses. If you look at the last few years, almost all the VC funds have withdrawn from Thailand and the VC environment has virtually dried up. This is not a good sign. why would Thailand even be on the radar screen now when India and China and even Vietnam offer equally exciting opportunites - and are not likely to change the rules every 5 minutues ? Link to comment Share on other sites More sharing options...
quiksilva Posted June 15, 2007 Share Posted June 15, 2007 So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! Incorrect, 100% foreign owned manufacturing firms can own freehold land in registered industrial estates and if promoted by the BOI they can even own land outside. Foreign investors are even permitted to own hotels (of no less than 100 rooms) if promoted by the BOI, and many do and are still buying. Yes.....at the moment they can.But it takes a sizeable investment into a country with laws and government changing like the wind....what would you do with your sizeable investment fund? I can only comment on my experience. We sold four sizeable (i.e. 2000-10,000 sqm) factories this month to newcomers (Japan and Australia) and to existing firms expanding their operations, we also leased a 17,000 sqm warehouse to an MNC to support their expansion, and have new requirements on a daily basis. Hotels have also been transacting on Phuket (to foreigners). As I have been saying for some time the market is slow there is no denying that but it is far from dead, ask around. Vietnam is interesting to many, but infrastructure and red tape is still a major cause for concern amongst the investors that I talk to. Link to comment Share on other sites More sharing options...
observer21 Posted June 15, 2007 Share Posted June 15, 2007 (edited) So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! Incorrect, 100% foreign owned manufacturing firms can own freehold land in registered industrial estates and if promoted by the BOI they can even own land outside. Foreign investors are even permitted to own hotels (of no less than 100 rooms) if promoted by the BOI, and many do and are still buying. Yes.....at the moment they can.But it takes a sizeable investment into a country with laws and government changing like the wind....what would you do with your sizeable investment fund? I can only comment on my experience. We sold four sizeable (i.e. 2000-10,000 sqm) factories this month to newcomers (Japan and Australia) and to existing firms expanding their operations, we also leased a 17,000 sqm warehouse to an MNC to support their expansion, and have new requirements on a daily basis. Hotels have also been transacting on Phuket (to foreigners). As I have been saying for some time the market is slow there is no denying that but it is far from dead, ask around. Vietnam is interesting to many, but infrastructure and red tape is still a major cause for concern amongst the investors that I talk to. No red tape in Thailand then Anyway you miss the point of risk due to instability. And what about smaller buisnesses. Naturally, you would have to promote the most positive aspects with having existing interests - as biast as they may seem to otheres. Just because you are familiar with the red tape in Thailand doesnt make it any less daunting to potential new investers. It is a hard sell and you must know it . The stigma of instability and flip floping of policies doesnt just go away overnight. People are not dumb (investors) and they follow the script. Edited June 15, 2007 by observer21 Link to comment Share on other sites More sharing options...
Dupont Posted June 15, 2007 Share Posted June 15, 2007 (edited) So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! "What you mean it's not an attractive option..??" Well, if it's not a pretty sight it may not be a problem! Theres a good chance that even if you get hold of your 49% of your business, you may not be able to stay in the country as the Labour Department ARE singing from a different hymn sheet, as ARE Immigration, as are the old men in uniforms ruining running the country. "More money than sense? We have the investments for you!" New BOI slogan! Edited June 15, 2007 by Dupont Link to comment Share on other sites More sharing options...
observer21 Posted June 15, 2007 Share Posted June 15, 2007 (edited) So Mr CEO, you are concerned that investing in Thailand would be risky?Well, I can reassure you that everything is fine, nothing to worry about, apart from being under military dictatorship, imminent threats of another Coup d'etat, death threats against former leaders, ruinous currency control measures and uncompetitive rate, crashing share prices, violence in the South, a bombing campaign in the capital within the last 6-months, downward growth YOY and prejections, disarray over whether you can actually own your investment if you are a foreigner... CEO - what about the rumour that the capital (and new airport) will be under water in 10-years? ..oh, and finally, whatever way you work within our system we will retain 51% ownership! Incorrect, 100% foreign owned manufacturing firms can own freehold land in registered industrial estates and if promoted by the BOI they can even own land outside. Foreign investors are even permitted to own hotels (of no less than 100 rooms) if promoted by the BOI, and many do and are still buying. Oh, i see. but what happens if they change their mind. You know like the next BOI guy, or new PM or Junta or even same guy changes his mind. And what kind of buisiness would the BOI like to promote today. I would imagine only bigger buisiness. Goes in hand with the way of thinking re. tourism - lower class tourists not really desirable. (Not more than a 100 rooms - best keep the numbers simple so as not to confuse ) Also what about the strong baht - what happens when the wheel comes off and bang 34 becomes 54 ($) big potential loss. Come on man who you selling to LOCATION LOCATION LOCATION (instability = bad location) (hostillity = bad location) (anti ferang sentiment = bad location) etc etc. etc. Edited June 15, 2007 by observer21 Link to comment Share on other sites More sharing options...
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