It’s time for US to do more business in Thailand : Thai PM

[snoop1130]

 

This Thai government’s top priority is to re-energise Thailand’s competitiveness and position as a leading investment destination, an engine of growth in the region and as a place where people can equally enjoy a quality life, said Thai PM Srettha Thavisin.

 

He was delivering remarks at a gala dinner, hosted in his honour by the US-ASEAN Business Council (USABC) and the US Chamber of Commerce (USCC) in New York.

 

Government spokesperson Chai Wacharonke quoted Srettha as telling the leading US businessmen that his government will shift the economy into high gear through the implementation of a progressive and impactful stimulus package.

 

Caption: Photo : Thai Government House

 

Full story: Thai PBS 2023-09-21

 

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[impulse]

I can understand US companies' reluctance to invest in a country where violating the FCPA is pretty hard to avoid.

 

[Mavideol]

first control get rid of all corruption (I know I know it's impossible 555) then u may see some US companies interested in investing here.... wishful thinking, keep trying

[khunjake]

I would say its too late. That boat has already sailed years ago. Vietnam and Indonesia have beat Thailand to the punch years ago. FDI has exploded in those countries while in Thai, its dropped dramatically. The final straw forJapanese companies in particular has been too strong THB compared to other ASEAN countries along with ridiculous immigration reporting requirements.

[StayinThailand2much]

3 hours ago, snoop1130 said:

Government spokesperson Chai Wacharonke quoted Srettha as telling the leading US businessmen that his government will shift the economy into high gear through the implementation of a progressive and impactful stimulus package.

What does handing out cash to everyone and their dog have to do with U.S. companies investing in Thailand? Fat chance that U.S. investments would benefit from such a short-lived consumer stimulus. Plus, sooner or later the money will have to be brought in again via higher taxes.

Edited September 21 by StayinThailand2much

[StayinThailand2much]

2 hours ago, khunjake said:

Vietnam and Indonesia have beat Thailand to the punch years ago

Yes, and once more, for good reasons, together with India, they're attracting most of the investments relocating from China, and not Thailand.

[Dogmatix]

Just grandstanding for the domestic audience.  US companies know where Thailand is already and, if they are interested, they invest here regardless of what Thai politicians say.

Edited September 21 by Dogmatix

[bbko]

Here's some interesting reading concerning US-Thai business agreement;

 

https://en.wikipedia.org/wiki/Treaty_of_Amity_and_Economic_Relations_(Thailand–United_States)

[stoner]

1 hour ago, StayinThailand2much said:

Yes, and once more, for good reasons, together with India, they're attracting most of the investments relocating from China, and not Thailand.

this is a very key point. 

[Isaan sailor]

Get rid of bribery with those brown envelopes—it’s a start.

[hotchilli]

11 hours ago, Mavideol said:

first control get rid of all corruption (I know I know it's impossible 555) then u may see some US companies interested in investing here.... wishful thinking, keep trying

Even with zero corruption [impossible] Thailand has to stop courting China so closely for USA to invest heavily in Los

[Aussie999]

All above reasons, not to invest, in Thailand are true, along with ownership laws and the lack of stable democratic governments.

[VinnieK]

..and what kind of business can the US do in Thai?

Export wokeness....or debt?

I'm not aware of any other.

 

[HaoleBoy]

He speaks well but US companies know his junta coalition gov can turn on a dime and another coup happens here.   

Plus Srettha has been summoned by Xi to China next month.  US will wait to see his new marching orders from Xi.  The southern "land bridge" is still going thru but funding is not possible yet.  This project is China's way to "loan" Thailand the money and eventually take over the entire project.

We all have more pollution & garbage to look forward to in and around the Thai islands.

 

[bamnutsak]

His forte seems to be Sales.

 

He's pedaled pre-construction units for years, like some sort of Glengary, Glenross salesman.

 

Now he pedaling Thai sovereign units.

 

He just can't quit.

 

And coffee is for Closers.

 

Thailand today: Train crashes into dumpster on fire at a level crossing.

 

 

 

 

 

[RichardColeman]

Why on earth would a sensible American business man invest in a country courting China investment, chinese tourists and chinese armaments ? 

[Srikcir]

A word to the minority,  pro-military government, your TOP priority are the majority electorate, reigning in military "sovereignty," a questionable judicial political independence and a progressive agenda that promotes democracy and addresses the "income trap."

 

US saying is "Trust but Verify." What competence and support of democratic institutions has this government ACHIEVED that deservesUS trust for investment?

What was the first country PM Thavisin approached for investment? Not the US.

 

Sorry PM, but you really bring nothing of value to the US trade table except a priority for money. Go Fish.

 

 

 

[jcmj]

Why would anyone want to invest in a country that hates foreigners and treats them like 3rd class citizens. If the US treated the Thais like they treat us here, they would be up in arms. Same, same, but different. 

[sirineou]

Nonsense!! What has now changed? 

Investment abhors uncertainty and instability.  Thailand's biggest investment attraction problem is that there  there is not enough stability to make the long term projections nessacery for investment. 

 

[NORDO]

I spend the US dollar amount of about $50k each year in Thailand, depending on the exchange.   Quit treating me like a piece of dung and I would consider spending more.

[connda]

Well, restructure your system of tariffs, your immigration, and level the playing field.

[connda]

18 hours ago, snoop1130 said:

He was delivering remarks at a gala dinner, hosted in his honour by the US-ASEAN Business Council (USABC) and the US Chamber of Commerce (USCC) in New York.

Every day I here from the room where my wife if watching TV. 
"KWAI."  "*%&(^%)&%&$"  "F***" (yeah she does use that US Navy expletive).  ????

Who is she yelling at.  <laughs>  Srettha.

This will be a solid Move Forward Party family come the next election.

[Cake Monster]

18 hours ago, snoop1130 said:

This Thai government’s top priority is to re-energise Thailand’s competitiveness and position as a leading investment destination, an engine of growth

Srettha has ab awful long way to go in getting any American Investment into Thailand

The recent decision over the Hopewell fiasco and all the current outflows of capital and Bonds have seen to that

[Srikcir]

1 hour ago, bbko said:

USA leading the world in producing obesity

Hence POTUS Trump and his bizarre world trade wars. 

Ironically, a national obesity follows a rich and developed high GDP country with a plenitude of foods choices. Being thin becomes a personal choice and not forced starvation.

[spidermike007]

It is time for Thailand to dramatically lower luxury taxes on goods imported from US companies. And the same applies to wine taxes. 

 

Note to Sretta. Sir, you simply have to learn how to take responsibility. You cannot spend your entire term deflecting. Each time you do this, you lose credibility. 

[John Drake]

7 hours ago, hotchilli said:

Even with zero corruption [impossible] Thailand has to stop courting China so closely for USA to invest heavily in Los

Yes. Why would US firms come to Thailand, where Chinese businesses are given a preference and Chinese nationals are allowed to flood the work environment while effectively ignoring the restrictions put on Western companies and their employees?

[John Drake]

13 hours ago, Isaan sailor said:

Get rid of bribery with those brown envelopes—it’s a start.

I talked seven years ago with a US representative selling helicopters. He said he simply couldn't book an order here because of the bribes necessary. The US has laws forbidding paying bribes for overseas business and the punishments are apparently quite severe. He said everyone else was passing out bribes left and right. He had no chance.

Edited September 22 by John Drake

[traveller101]

14 hours ago, bbko said:

Here's some interesting reading concerning US-Thai business agreement;

 

https://en.wikipedia.org/wiki/Treaty_of_Amity_and_Economic_Relations_(Thailand–United_States)

So this treaty disallows American investment in the following business sectors:

Communication, Transportation, Banking, Insurance, Legal, Investment, Land exploitation incl. Mining, domestic Trade in Agriculture.

In addition, Land cannot be owned.

Which basically leaves Manufacturing as the only business sector to operate in. Where there is ample competition from countries such as the ones already mentioned.

 

[Rimmer]

A deflection post contravening our Community Standards has been removed.    

[Middle Aged Grouch]

The US-Thai commercial issue should rather be taken from the opposite stance.

 

Thailand should rather seek  developping new business ventures  with superpowers like Europe, Russia, the Middle East, China or India and not so much with the US that has an economy that is nearing foreclosure !

Edited September 22 by Middle Aged Grouch