New One Stop Service For Foreign Investors Announced Last Month

[thailandlover]

I found this article from last month and was wondering if it had been implemented, and if so, has anyone availed themselves of it and if not, what do you expect from it?

One-stop service to encourage investors: PM

By Chalida Ekvitthayavechnukul

The Nation

Published on February 24, 2009

Prime Minister Abhisit Vejjajiva plans to set up a one-stop service to address all business concerns and provide all services in order to make it easier for foreign investors.

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In a luncheon talk entitled "Change for Economic Development and Stability" held by the Joint Foreign Chambers of Commerce yesterday, he was asked to reduce duplicated processes as well as improve law enforcement.

"This one-stop service will handle all the necessary applications for investors. In addition, it will be directly dependent on the PM's Office," he told the participants.

"In one and a half months, I believe that you [foreign investors] have seen the differences, such as a more stable political situation, and we will continue creating a better investment atmosphere," he said.

Besides, the shortage of skilled labour is one more concern among foreign investors. "We will put the labour issue forward and I understand that the PM wants to move to the bigger picture. Most importantly, the PM is more aware of the problems after we have drawn his attention to it," said Nandor G von der Luehe, chairman of the Joint Foreign Chambers of Commerce in Thailand.

He said foreign investment had been shrinking following the global economic downturn.

"Around 70 per cent of the country's GDP depends on exports, so it is difficult to tell exactly when the Thai economy will pick up. We expect the government's stimulus package will help stabilise the economy, but we do not expect any economic growth this year," he said.

Peter J van Haren, chief executive officer of Wiik and Hoeglund, said although Abhisit planned to stage roadshows and join the G-20 summit to boost foreign confidence, most foreign investors would wait and see the ongoing political situation in Thailand. However, he said he saw good signs that both the public sector and private companies supported each other.

[chiangmaibruce]

Hmmm, and let's call it, umm, how about the 'Board of Investment'.

Uh, wait, we got one already

The Board of Investment is working to be your one-stop shop for service. The BOI helps investors in three key ways: To reduce the risks associated with investment, to reduce initial investment costs and to improve the overall rate of return on investment; and to provide support services at all times.

www.boi.go.th