Thai PM Stresses Thailand Is Good Place For Investment

[webfact]

Thai PM stresses Thailand is good place for investment

DAVOS, SWITZERLAND, Jan 28 -- Thai Prime Minister Yingluck Shinawatra on Friday at the World Economic Forum (WEF) in Davos, Switzerland said that Thailand remained a good place for investment, as it was a centre of and gateway to the region.

She was also attempting to win the confidence of business people by affirming that Thailand has prepared measures to prevent a repeat of the flood crisis after massive floods in the country caused widespread damages.

Ms Yingluck was attending the 42th annual WEF and would take the opportunity to regain confidence of leaders and investors in Thailand after last year's flood crisis.

During the 42th WEF, Ms Yingluck has already participated in three main sessions, including a round table discussion with international leaders and executives, and an informal gathering of World Economic Leaders (IGWEL) on “Defining the Imperatives for 2012” covering sustainable economic growth.

She told the discussion that every country needed to strengthen its domestic economy in order to weather fluctuations in the world economy.

She was a keynote speaker at the opening conference called "Women as the Way Forward” intended to exchange opinions on the values and roles of female leaders.

Ms Yingluck stressed the importance of the equality between males and females for sustainable economic growth. She said the Thai government has placed importance on developing women's roles and their quality of lives.

Ms Yingluck also participated in a discussion with business leaders and CEOs on “Public-Private Interaction on Thailand” to seek ways to develop Thailand's economic potential and policy on water management and long-term reform measures in Thailand.

On Friday evening, Ms Yingluck has presided over "Thailand Night" and told the group of 700 guests that attended the event that Thailand not only had charming culture and beauty of nature but it was also a good business opportunity for investors.

She has assured guests which included world leaders and business leaders that with effective water management, there would definitely be no repeat of the flood crisis like last year's problems.

The premier said Thailand was a strategic location to link with other countries in the region and they have prepared investment in infrastructure networking to all countries in the region.

Ms Yingluck also invited the world and business leaders to attend The WEF on East Asia that Thailand would host during May 30-June 1 in Bangkok.

The theme of this forum is called "Shaping the Region's Future through Connectivity." (MCOT online news)

-- TNA 2012-01-28

[Gone]

I invested 1,500,000 baht here in a Garment business. Had 49% shares, 22 Thai workers and was bringing in an average of around 20,000 THB per day profit.

One night while I was sleeping my Thai partner had 2 trucks come into my factory and loaded everything including electrical fixtures in to the truck and was gone. I went to the shop the next day at 8:00 am to find it empty and all workers gone.

Went to the police, Lawyers etc. and was simply told "som nam na."

[pimay11]

"She has assured guests which included world leaders and business leaders that with effective water management, there would definitely be no repeat of the flood crisis like last year's problems".

That is a true statement. The problem is that with these bufoons in the government there will be no effective water management.

[waza]

Hmmm how can anyone believe anything this woman says, she has no independant opinion and therefore no conviction for what she says, However, if she presented like this I would listen.

[rkidlad]

I work here, and I love it. But as far as investing money here, no way. This is nothing negative towards Thai people, and this is nothing personal. It's purely common sense.

As some people say somewhere "It's not personal - it's business"

[animatic]

She could smell the money and flew off towards the odor she loves.

We know big brother likes farang investments, just ask TV guy Monson,

Thaksin gutted him for his technology, then his investment,

and then had him thrown in jail, for trying to get his investment back,

then thrown out of Thailand, to add insult to injury.

Edited January 28, 2012 by animatic

[Pseudolus]

They forgot the disclaimer in the title I think.

"Thai PM stresses Thailand is good place for investment" *

* as long as you do not compete on a level playing field with the companies owned by the Thai elite or worse still bring in best practice and world class systems that would jeopardise the their existence, do not think it will be easy to gain permission to live and work here, and unless you are American, are prepared to give away the majority of your company ownership to a national, as well as grease the palms of all and sundry, especially those employed and empowered to prevent such things.

Edited January 28, 2012 by AdamBanks

[slapout]

Books could be written on lost investment in Thailand and any country of the world. Thialand seems to have a history of, in a word, screwing with foreign investors in some fairly blantent underhanded, illegal ways. Most can accept a bad investment and can get positve lessons from that loss but this type of business failure just leave frustrated bad advertisers for further investors... I guess the next item on her agenda is to appoint a committee which will handle/oversee foreign investors capital and set them up with Thai counterpart partners.

It seems that many of the Thai business people/politicans send a lot of their wealth to other countries rather than keeping it in the safe haven of the Thai investment system. This should be a red flag for potential investors

[chainarong]

For big business its okay but SME, don't bother, lots of shady characters out there, actually they are everywhere, not only in Thai, got ripped of in OZ twice,me own bloody countrymen.

[BookMan]

I have certainly been investing my leisure time and leisure dollars here.

As for my business interests and invetsments. They wont be coming along for a Thai holiday anytime in the future.

[wintermute]

There's little to no assurances even if you're a big business. Just ask that German firm who built the tollway system what happened. The German government had to step in and force the issue of payment after more than a decade of being ignored. Take a look at Carlsberg as well as the current issues over DTAC. If you want to look at smaller businesses who got cheated do a search on that guy who owned the Turkey farm. C.P. came in and basically forced him out. There have been several joint foreign/Thai agribusiness investors who got screwed too. Some of them recently like the joint Taiwanese owned plantation.

There are a lot more stories out there.

[stockholm1995]

How the hell is Thailand a good investment country when I have to give away 51% of my business to a Thai?

I think what Thai PM meant was that Thailand is good place for investment FOR THAIS.

[huahinjoe]

Thailand is one of the worse place for foreign investment until they have this nationalist, protectionist rules with 49-51% and high burocracy, unfriendly immigration rules, the list goes on...

I really hope nobody beleive her in Davos, unless She ask them to open more beerbars, because the only good investments made here is only by sex tourists or fake products...

Unbeleiveleable how they thinking, it's typical "be samart" thai mentality they know the best, they do the best and then wonder nothing happened here...

This place is really a wonderland...

[DNPBC0]

"She was also attempting to win the confidence of business people by affirming that Thailand has prepared measures to prevent a repeat of the flood crisis after massive floods in the country caused widespread damages."

Exactly what 'measures' and what exactly will be in place before this year's rainy season?

[marquess]

As the National Anthem says Thailand for Thais only, so let them invest in their own country with their own money, serious players only need to turn to more favourable places in S.E Asia

[Buchholz]

Thai Prime Minister Yingluck Shinawatra on Friday at the World Economic Forum (WEF) in Davos, Switzerland said that Thailand remained a good place for investment, as it was a centre of and gateway to the region.

awwww, c'mon Yingluck.... you know you want to say it....

Thailand is the "hub" of good investments.

*look forward to the youtubes of her speeches... particularly the "keynote" address* ..

.

[cloudhopper]

Thailand is a great place to do business.

Until it isn't.

[Gone]

There's little to no assurances even if you're a big business. Just ask that German firm who built the tollway system what happened. The German government had to step in and force the issue of payment after more than a decade of being ignored. Take a look at Carlsberg as well as the current issues over DTAC. If you want to look at smaller businesses who got cheated do a search on that guy who owned the Turkey farm. C.P. came in and basically forced him out. There have been several joint foreign/Thai agribusiness investors who got screwed too. Some of them recently like the joint Taiwanese owned plantation.

There are a lot more stories out there.

Not to mention they still owe Canada for the loan on the BTS in Bangkok.

[Buchholz]

ahhh... good move.

She gave her "keynote" address, which it really wasn't, but merely a brief (6 min.) opening speech.

The good move on her part was that she chose to deliver her speech to the international audience in Thai.

Likely advised by her handlers who didn't want repeats of her earlier disasters using the English language, eg. ABC News interview.

Unfortunately, in the subsequent Q & A session, her response to a pointed question about the issue of widespread prostitution in Thailand, her reply in English descended into a rambling, incoherent, mishmash of nonsense to which the witty moderator said at the end of it to try and valiantly save her, "Thank you Madame Prime Minister, I have to say you speak better English than I do."

A very nice conciliatory effort on his part.

.

Edited January 28, 2012 by Buchholz

[lannarebirth]

I'd say the odds are pretty good she's speaking to an empty room and that's just a photo backdrop in the picture.

[warfie]

ahhh... good move.

She gave her "keynote" address, which it really wasn't, but merely a brief (6 min.) opening speech.

The good move on her part was that she chose to deliver her speech to the international audience in Thai.

Likely advised by her handlers who didn't want repeats of her earlier disasters using the English language, eg. ABC News interview.

Unfortunately, in the subsequent Q & A session, her response to a pointed question about the issue of widespread prostitution in Thailand, her reply in English descended into a rambling, incoherent, mishmash of nonsense to which the witty moderator said at the end of it to try and valiantly save her, "Thank you Madame Prime Minister, I have to say you speak better English than I do."

A very nice conciliatory effort on his part.

.

I like to see it if you have a link?

[DP25]

There's little to no assurances even if you're a big business. Just ask that German firm who built the tollway system what happened. The German government had to step in and force the issue of payment after more than a decade of being ignored. Take a look at Carlsberg as well as the current issues over DTAC. If you want to look at smaller businesses who got cheated do a search on that guy who owned the Turkey farm. C.P. came in and basically forced him out. There have been several joint foreign/Thai agribusiness investors who got screwed too. Some of them recently like the joint Taiwanese owned plantation.

There are a lot more stories out there.

lol CP didn't do anything to the turkey farmer, that guy was just an idiot and everything was owned by his wife. It's not CP's fault the guy was a fool and screwed by his 'wife'. The german tollway firm only owned less than 10% of a concession to RUN a tollway, when the parent company went bankrupt the creditors didn't want to wait for a return on their investment and sought to liquidate everything using legal means to immediately get their money rather than wait two decades. They were being payed through operating the tollway concession, there was no refusal to pay and they were compensated for the lower toll rate with an extension ofthe contract, the creditors just wanted it NOW as they did not want to operate a business. Neither of these are really good examples. And it's not like business back in America isn't just as cutthroat and willing to use lawyers, money, and sleazy means to get what they want.

[geriatrickid]

I'd say the odds are pretty good she's speaking to an empty room and that's just a photo backdrop in the picture.

Why do you post misleading crap like that? You know that it was a main room event don't you? So why do this?

Instead of being childish, go and look at the event here; http://www.weforum.org/videos/women-way-forward-annual-meeting-2012

Look at the audience. Are you going to retract your misleading comment now?

It is obvious that no one bothered to watch the speech. Keynote speakers give their speeches in their native language and the PM was no different. her opening speech was in Thai. I find it a somewhat odd that the initial comments of some were based upon asking why she was going and what she was going to do. Now that it comes out the PM was invited as a keynote speaker at a major event and that she was there to bolster investment and the Thailand brand, only derisive comments are offered.

[Bakseedaa]

There's little to no assurances even if you're a big business. Just ask that German firm who built the tollway system what happened. The German government had to step in and force the issue of payment after more than a decade of being ignored. Take a look at Carlsberg as well as the current issues over DTAC. If you want to look at smaller businesses who got cheated do a search on that guy who owned the Turkey farm. C.P. came in and basically forced him out. There have been several joint foreign/Thai agribusiness investors who got screwed too. Some of them recently like the joint Taiwanese owned plantation.

There are a lot more stories out there.

Not to mention they still owe Canada for the loan on the BTS in Bangkok.

I think you got your facts mixed up there.... The BTS is owned by a Japanese company... with no debts..

[tlansford]

I'd say the odds are pretty good she's speaking to an empty room and that's just a photo backdrop in the picture.

Why do you post misleading crap like that? You know that it was a main room event don't you? So why do this?

Instead of being childish, go and look at the event here; http://www.weforum.o...al-meeting-2012

Look at the audience. Are you going to retract your misleading comment now?

It is obvious that no one bothered to watch the speech. Keynote speakers give their speeches in their native language and the PM was no different. her opening speech was in Thai. I find it a somewhat odd that the initial comments of some were based upon asking why she was going and what she was going to do. Now that it comes out the PM was invited as a keynote speaker at a major event and that she was there to bolster investment and the Thailand brand, only derisive comments are offered.

Thanks for posting the link. It was a good panel and an interesting video. The topic of the panel is an important issue.

I noted some comments above regarding her English - not only is her English fine, in that particularly Thai kind of way, but she was more expressive and coherent in a foreign language, than the Archbishop was (as much as I appreciate the Archbishop, he was IMO the reason the panel ran short of time). It is just a guess, but I suspect that posters who ridicule her language skills often speak but one language themselves.

As a note regarding a different misleading post, the moderator's comment regarding her English was after her first response to a question and tied back to her rather polite excuse to the audience for giving the keynote in Thai. Unlike the misrepresentation here, it was not a "save" or any sort.

Now as for investing in Thailand - WEF is the #1 event every year to bring together business leaders and world leaders. Why did people even wonder why she would be going - with or without the keynote for the panel?

Also noted that the WEF / Asia will be in BKK in May.

[Buchholz]

As a note regarding a different misleading post, the moderator's comment regarding her English was after her first response to a question and tied back to her rather polite excuse to the audience for giving the keynote in Thai. Unlike the misrepresentation here, it was not a "save" or any sort.

Do you think he was being serious?

It was a kind-hearted save, diplomatically oriented, in order to spare her from feeling bad about her rambling, incoherent, nonsensical comments to a serious question regarding prostitution in Thailand.

,

[Buchholz]

she was there to bolster investment and the Thailand brand

With the Chief Operating Officer of Facebook on the same panel, it was disappointing that Yingluck didn't use the opportunity to bolster world understanding of her government's harassment of Facebook users and restrictions that Thailand places on the use of that company.

.

Edited January 28, 2012 by Buchholz

[473geo]

she was there to bolster investment and the Thailand brand

With the Chief Operating Officer of Facebook on the same panel, it was disappointing that Yingluck didn't use the opportunity to bolster world understanding of her government's harassment of Facebook users and restrictions that Thailand places on the use of that company.

.

Not disappointing to those able to accept there may have been slightly more important issues than facebook

[Buchholz]

Now that it comes out the PM was invited as a keynote speaker at a major event

Just so people aren't misled, the session discussion Women as the Way Forward that Yingluck sort of participated in was but one session amongst 613 other session discussions at the WEF.

She is not listed as the "keynote speaker" on the WEF website for that session discussion, rather.... as I had surmised earlier was the case, she is listed as

Opening Remarks by

Yingluck Shinawatra, Prime Minister of Thailand

,

Edited January 28, 2012 by Buchholz

[Buchholz]

she was there to bolster investment and the Thailand brand

With the Chief Operating Officer of Facebook on the same panel, it was disappointing that Yingluck didn't use the opportunity to bolster world understanding of her government's harassment of Facebook users and restrictions that Thailand places on the use of that company.

Not disappointing to those able to accept there may have been slightly more important issues than facebook

I certainly wouldn't dispute that there are more pressing concerns than Facebook. It's just that Thailand's government though it important enough to forgo other, more important, issues to begin with.

.