Thai PM assures foreign investors of Thailand’s political stability

[Lite Beer]

PM assures foreign investors of Thailand’s political stability

BANGKOK, 29 January 2012 - Prime Minister Yingluck Shinawatra has reassured foreign investors of Thailand’s political stability and its readiness to foster private investment businesses.

During the 42nd Meeting of the World Economic Forum (WEF) in Davos, Prime Minister Yingluck had a bilateral meeting with Ms. Eveline Widmer-Schlumpf, the President of the Swiss Confederation, to regain international confidence on Thailand’s political and economic stability after the devastating flood last year. Among the topics discussed was the proposed free trade area between Thailand and the European Free Trade Association (EFTA). Ms. Yingluck also participated in s seminar entitled “Public-Private Interaction on Thailand” to exchange views with those executives who are keen to invest in Thailand.

On this occasion, Prime Minister Yingluck reiterated a great potentiality of the Thai economy and further elucidated the strategic and systematic water management policy, to which a budget of USD11 billion has been set aside. She projected the Thai economy would grow 5 percent after recovering from the flood.

In addition, the Thai premier predicted bright prospects for large public infrastructure investment particularly in the mass transit system and trains. She said Thailand’s current financial status was considered ‘excellent’ and the government has firm commitment to support investments of private businesses.

Prime Minister Yingluck emphasized that Thailand is politically stable and has a sound democratic system. The government is also strongly pushing forward national reconciliation and unity among its citizens.

-- NNT 2012-01-29

[ratcatcher]

Politically stable until her brother comes back ...If he comes back.

[Lite Beer]

Thai PM hails Thai Night extravaganza in Davos as a success

BANGKOK, Jan 29 – Thai Prime Minister Yingluck Shinawatra hailed “Thailand Night” as a success, with more-than-expected visitors, and said she was confident that it would attract more investors to do business in Thailand.

Ms Yingluck Shinawatra attended the annual 42th World Economic Forum (WEF) in Switzerland’s Davos from January 26-29.

The prime minister said before leaving Zurich International Airport back to Thailand that the “Thailand Night” held on January 27 to build confidence among investors was hailed a success, as the number of visitors – both current and potential new investors – was higher than expected.

“I’m confident that this success will draw more participants to the 20th World Economic Forum on East Asia hosted by Thailand from May 30-June 1. More investors will be interested in Thailand because the country has a strong position and potential for investment,” the premier said.

Ms Yingluck said regarding bilateral talks with Swiss President Eveline Widmer-Schlumpf that she invited Switzerland to attend the Asia-Europe Meeting (ASEM) Summit, to be held in Laos, PDR. Moreover, the issue of a free trade agreement (FTA) between Thailand and Switzerland was also discussed during the talks and she would bring the issue to the Cabinet meeting. If successful, it would boost trade and tourism between the two countries and strengthen bilateral relations, she added.

Speaking about her interviews with CNBC and Euro News, the premier said the media asked about the situation in Thailand, concerning water management and internal security. She gave them confidence the situation has returned to normal and Thailand is now a peaceful country. Regarding the country’s economic growth, she told them Thailand’s gross domestic product (GDP) is targeted to grow five percent this year.

Touching on an earlier terror alert in Thailand, she said the WEF meeting did not ask about the travel warning alert to Thailand related to a possible terror plot. Many countries have already withdrawn the alerts. Ms Yingluck said the lack of inquiries meant that other countries are confident that it is safe to travel to Thailand.

Ms Yingluck is due to arrive in Thailand at around 1:35 pm local time on Sunday (Jan 29). (MCOT online news)

-- TNA 2012-01-29

[alstaxi]

Lots of big words in this article, sounds like a new speech writer, hip waders are a required item for this load.

[MrJohnson]

Thai PM hails Thai Night extravaganza in Davos as a success

BANGKOK, Jan 29 – Thai Prime Minister Yingluck Shinawatra hailed “Thailand Night” as a success, with more-than-expected visitors, and said she was confident that it would attract more investors to do business in Thailand.

Ms Yingluck Shinawatra attended the annual 42th World Economic Forum (WEF) in Switzerland’s Davos from January 26-29.

The prime minister said before leaving Zurich International Airport back to Thailand that the “Thailand Night” held on January 27 to build confidence among investors was hailed a success, as the number of visitors – both current and potential new investors – was higher than expected.

“I’m confident that this success will draw more participants to the 20th World Economic Forum on East Asia hosted by Thailand from May 30-June 1. More investors will be interested in Thailand because the country has a strong position and potential for investment,” the premier said.

Ms Yingluck said regarding bilateral talks with Swiss President Eveline Widmer-Schlumpf that she invited Switzerland to attend the Asia-Europe Meeting (ASEM) Summit, to be held in Laos, PDR. Moreover, the issue of a free trade agreement (FTA) between Thailand and Switzerland was also discussed during the talks and she would bring the issue to the Cabinet meeting. If successful, it would boost trade and tourism between the two countries and strengthen bilateral relations, she added.

Speaking about her interviews with CNBC and Euro News, the premier said the media asked about the situation in Thailand, concerning water management and internal security. She gave them confidence the situation has returned to normal and Thailand is now a peaceful country. Regarding the country’s economic growth, she told them Thailand’s gross domestic product (GDP) is targeted to grow five percent this year.

Touching on an earlier terror alert in Thailand, she said the WEF meeting did not ask about the travel warning alert to Thailand related to a possible terror plot. Many countries have already withdrawn the alerts. Ms Yingluck said the lack of inquiries meant that other countries are confident that it is safe to travel to Thailand.

Ms Yingluck is due to arrive in Thailand at around 1:35 pm local time on Sunday (Jan 29). (MCOT online news)

-- TNA 2012-01-29

I feel so much better now having the read the soothing words of PM OuttaLuck. Nobody inquired about the terror alerts so therefore nobody is worried about it. Hmm. Well that's one way of interpreting it.

[TAWP]

To declare the nation as stable is rich. I don't think even Red Shirt apologists would claim that, even for other reasons than others.

Sondhi's narrative encapsulates the underlying cause of over 6 years of political instability plaguing Thailand and focuses on Wall Street and London's proxy of choice, Thaksin Shinawatra.

Thaksin Shinawatra, Thailand’s prime minister from 2001 until a military coup removed him in 2006, was a former Carlyle Group adviser and was literally reporting to the globalist Council on Foreign Relations in New York City on the eve of his ousting from power. While in office, Thaksin attempted to ramrod through the US-Thailand Free-Trade Agreement (FTA) without parliamentary approval, a 2004 FTA backed by the exact same US-ASEAN Business Council recently visited by Thaksin’s "red shirt" street mob leaders in April of 2011.

Source

Edited January 29, 2012 by TAWP

[JAG]

Sondhi Limthongkul holding forth on the reasons why Thailand might not be politically stable is a bit rich in itself!

[TAWP]

Sondhi Limthongkul holding forth on the reasons why Thailand might not be politically stable is a bit rich in itself!

Doesn't make the point wrong - this isn't a stable nation.

[OzMick]

On both topics I can only say "Well she would, wouldn't she!" (apoligies to Mandy R-D). But does anybody believe a politician, let alone one with a history of perjury?

[ratcatcher]

Sondhi Limthongkul holding forth on the reasons why Thailand might not be politically stable is a bit rich in itself!

Doesn't make the point wrong - this isn't a stable nation.

One might be forgiven for thinking so with all the horse manure flying around.

Edited January 29, 2012 by ratcatcher

[MEL1]

"On this occasion, Prime Minister Yingluck reiterated a great potentiality of the Thai economy and further elucidated the strategic and systematic water management policy, to which a budget of USD11 billion has been set aside. She projected the Thai economy would grow 5 percent after recovering from the flood."

"To which US$ 11B has been set aside" - but sod all been done with yet.

"5% after recovering from flood" - ?Where is she? Half the place still looks like a war zone, and hasn't recovered, and the likelihood is that before, and of what's left of the 11B after a bit of Chalerm reshuffling, there's likely going to be repeat flooding.

She makes me .

-mel.

[KeyserSoze01]

Yawn, the takeaway is that PM Yingluck could only get a formal meeting with the female president of the Swiss Confederation in Davos. Analogous to a garage band being the opening act for Led Zeppelin.

[Felt 35]

In addition, the Thai premier predicted bright prospects for large public infrastructure investment particularly in the mass transit system and trains. She said Thailand’s current financial status was considered ‘excellent’ and the government has firm commitment to support investments of private businesses.

Impudence at its best

[gemini81]

Her oxymorons are getting more creative. Her imagination knows no bounds!

[DP25]

The entire world is going to see how 'stable' Thailand is once she tries to bring home her brother, pardon him, and return his billions.

[hellodolly]

I believe that the government is stable.

But that does not make them functional.

She must think no one knows any thing about Thailand and she can just dump any old story on them.

I don't know any thing about finances (except I would like more money) but didn't they just say they would have to shuffle off a sh-t load of their debt's to pay for the flood control projects?

Does she not understand that these people are not worried about saving face they want the bottom line and they will look into every thing before they invest their money into Thailand.

I am quite sure they all congratulated her on how well her country is doing and when they left the meeting if they were interested in investing started to look for the facts.

[animatic]

New writer, same old BS in a new wrapper.

And serious investors already know what's happening here.

Ting Tong, Avons not calling.

[Misterwhisper]

I'd like to believe that Madam Widmer-Schlumpf politely thanked Prime Minister Yingluck for the insightful talk, then retreated into her waiting limousine where she broke out in hysterical laughter.

[geriatrickid]

If one doesn't know what goes on at these meetings, why make the grand pronouncement that nothing took place? There were multiple meetings between finance ministry officials and their counterparts from other nations. When there are 40 heads of state, 1600 business leaders and hundreds of government officials from around the world there is a lot of discussion.

One of the issues discussed by SE Asian officials was that of a regional response to the economic threat of a pandemic. Another issue discussed was that of the European debt crisis and how best to avoid getting wacked by the EU's financial woes. These meetings also allow heads of state to have some informal time together out of the public spotlight. Not every meeting is reported on and not every conversation is revealed. A gathering of key people faciliates discussion and provides the very important "human face" to be added. It is much easier to discuss an issue at a later date, once one meets his or her counterpart.

[lungmi]

If one doesn't know what goes on at these meetings, why make the grand pronouncement that nothing took place? There were multiple meetings between finance ministry officials and their counterparts from other nations. When there are 40 heads of state, 1600 business leaders and hundreds of government officials from around the world there is a lot of discussion.

One of the issues discussed by SE Asian officials was that of a regional response to the economic threat of a pandemic. Another issue discussed was that of the European debt crisis and how best to avoid getting wacked by the EU's financial woes. These meetings also allow heads of state to have some informal time together out of the public spotlight. Not every meeting is reported on and not every conversation is revealed. A gathering of key people faciliates discussion and provides the very important "human face" to be added. It is much easier to discuss an issue at a later date, once one meets his or her counterpart.

Yingluck was a key people?

[Thaddeus]

If one doesn't know what goes on at these meetings, why make the grand pronouncement that nothing took place? There were multiple meetings between finance ministry officials and their counterparts from other nations. When there are 40 heads of state, 1600 business leaders and hundreds of government officials from around the world there is a lot of discussion.

One of the issues discussed by SE Asian officials was that of a regional response to the economic threat of a pandemic. Another issue discussed was that of the European debt crisis and how best to avoid getting wacked by the EU's financial woes. These meetings also allow heads of state to have some informal time together out of the public spotlight. Not every meeting is reported on and not every conversation is revealed. A gathering of key people faciliates discussion and provides the very important "human face" to be added. It is much easier to discuss an issue at a later date, once one meets his or her counterpart.

Yingluck was a key people?

Hat check girl maybe.

[noitom]

We have "measures" , everything is under control, we are reshuffling now as we speak, Thailand remains a "hub", we have been removed from the terrorist alert on the US embassy web site, Chinese tourists are coming back in droves, we have declared "friendship" with Palestine and now recognize them, we have no fight with muslims and they promised not to do any bombs in Thailand, there are only 5,000 plus deaths in the insurrection in the muslim south, our Arab community controlling the Soi 3 area right near Bumrungrad Hospital is very happy with our progress, and we have great airport security , just ask our PAD leaders.

For all these reasons, you should see Thailand as a fabulous place to invest. There are no swindles, no corruption, virtually no crime that goes unsolved. Why just today we announced the capture of a never before reported story of an Indian currency trader being robbed of 50 million baht. Our English press is fair and objective and provides comprehensive detailed news and opinion. They follow up on every story and check facts meticulously. You may have read also that I have just appointed a US "blacklisted" business woman to Office Minister. She has only "facilitated" illegal gem, banking, and real estate deals with the Zimbabwe government and not actually "engaged" in these transactions. Everyone in the room loves Robert Mugabe right?

And rest assured, our former PM my older brother, who was removed by a military coup and who is on the run outside Thailand from charges of fraud and securities manipulation, is still pulling the strings on whatever issue we make an announcement about. The military promises that there will be no coup, and therefore, I will see you all in Davos again next year and wish you all good luck with your investments in Thailand.

[MaiChai]

Haha. If the government get out of control (like before) the army will step in and protect the country. So don't worry, everything will be ok! Thailand has a good track record of this

Also if all the police run away (like in the floods before), we can always rely on the army to do the job the police are suppose to do! We understand the police; its not profitable helping people in need.

Edited January 29, 2012 by MaiChai

[Roadman]

Haha. If the government get out of control (like before) the army will step in and protect the country. So don't worry, everything will be ok! Thailand has a good track record of this

Also if all the police run away (like in the floods before), we can always rely on the army to do the job the police are suppose to do! We understand the police; its not profitable helping people in need.

Well summarised.

The bit that amused the most was

has a sound democratic system

[noitom]

She assures, she presses, she promotes, she promises, she reshuffles. Those Davos fat cats must be licking their chops to get out their checkbooks and invest in Thailand. Especially after that lavish "Thai entertainment night. Things are so good everywhere around the world, everyone with money to invest is eager to throw away money to Thai hustlers. And when they are not tracking down their 51% Thai partners, they can kill time around Soi 4, 23, and 33 chasing after real Thai hustlers, the girls, the backbone of The Thai economy.

[FOODLOVER]

Bet she rode the little bus to school

[Misterwhisper]

Has Mrs. Prime Minister also revealed to all those so-eager-cannot-wait investors that they typically can only own 49% of their venture while - even more typically - having to put up 100% of the required funds?

[Bakseedaa]

Sondhi Limthongkul holding forth on the reasons why Thailand might not be politically stable is a bit rich in itself!

Doesn't make the point wrong - this isn't a stable nation.

Yes, its a nation of motor-bikes...Not horses...!

[geriatrickid]

Has Mrs. Prime Minister also revealed to all those so-eager-cannot-wait investors that they typically can only own 49% of their venture while - even more typically - having to put up 100% of the required funds?

It would be wonderful if people like you took the effort to understand the applicable law. Yes, there are restrictions on foreign ownership in some sectors. Thailand, like other countries restricts foreign ownership of key industries like media (just like the USA), or of airlines (just like Australia and Canada). The 49% ownership rule does not apply for sectors such light manufacturing, pharmaceuticals, and food products. As well, the 49% rule can be waived for some investments. Who do you think has a greater likelihood of getting a waiver; A heavy manufacturing firm that will provide hundreds of well paying jobs, a pension scheme and a responsible environmental and societal code of ethics or Jimmy Fitzdribble from Leeds who wants to open a bar or Heinrich Shnitzle who wants to open a shop selling the same goods every other shop in a 100km radius sells? It's all about the quality of the investment. The Thai government will drop its pants to attract important industries and that means offering subsidies and tax waivers, just like other foreign governments seeking investors will do. The restrictions on low end foreign investments makes good sense as it protects both the local Thai small merchants class, and also acts to protect the foreigners from losing their investments. Does Thailand really need to encourage foreigners who want to set up bars, or beauty salons or guest houses? These are not sectors that need foreign investment.

[Buchholz]

If one doesn't know what goes on at these meetings, why make the grand pronouncement that nothing took place? There were multiple meetings between finance ministry officials and their counterparts from other nations. When there are 40 heads of state, 1600 business leaders and hundreds of government officials from around the world there is a lot of discussion.

One of the issues discussed by SE Asian officials was that of a regional response to the economic threat of a pandemic. Another issue discussed was that of the European debt crisis and how best to avoid getting wacked by the EU's financial woes. These meetings also allow heads of state to have some informal time together out of the public spotlight. Not every meeting is reported on and not every conversation is revealed. A gathering of key people faciliates discussion and provides the very important "human face" to be added. It is much easier to discuss an issue at a later date, once one meets his or her counterpart.

Yingluck was a key people?