Investors Confident On Thailand's Flood Prevention: Interview

[webfact]

EXCLUSIVE INTERVIEW

'Investors confident' on flood prevention

Petchanet Pratruangkrai

The Nation

Setsuo Iuchi, president of the Japan External Trade Organisation (Jetro) Bangkok.

Jetro urges govt to provide information in English to foreign businesses

BANGKOK: -- Though they were among those hit hardest by the devastating flood last year, Japanese investors expect that Thailand will be able to manage water efficiency and prevent serious flooding this year to ensure investor confidence.

Setsuo Iuchi, president of the Japan External Trade Organisation (Jetro) Bangkok, said in an exclusive interview with The Nation that he expected the Thai government to continue its plans to prevent floods this year and in the following years.

"We understand that [flood] prevention will take years to handle," Iuchi said.

According to Jetro, Japanese insurance companies in Thailand estimate their total loss at about Bt200 billion from the flood crisis last year. However, real estimated losses are no less than Bt400 billion, including reinsured amounts.

As the biggest group of foreign investors in Thailand, those from Japan also expect the government to provide accurate and timely information in English about floods and other unexpected circumstances so that businesses can prepare to handle such problems.

"The government should give foreign businessmen accurate information in English. It will not only benefit Japanese investors, but also other foreign investors to have clear information and be able to monitor the implementation of flood-prevention measures," Iuchi said.

He said water levels this year were better than last year, so Thailand should be able to manage the situation more efficiently.

Iuchi pointed out that if a serious flood occurred this year, it would affect small investors' confidence. Some could withdraw their investment from the Thai market. However, he expects such a situation will not be seen thanks to flood-prevention measures of the Thai government in cooperation with the private sector to protect people and industries.

To avoid a repeat of last year's disaster, some businesses will still stay in Thailand by relocating to other areas within the country. However, some may relocate to other Asean nations.

Even so, Iuchi pointed out that Thailand would still be considered the major country in the region for major factories for Japanese industries, while at the same time, other Mekong River areas will serve as satellite factories for Japanese companies.

Countries in Asean that Japanese investors are looking at for expanding into to reduce risks from flooding in Thailand include the Philippines, with its strongly growing population of English-speaking workers, Indonesia with its giant domestic market, and Myanmar with its emerging growth.

Thailand is still one of the most attractive destinations and the largest base for Japanese investors in Asean. However, the Kingdom needs to continue to improve its competitiveness, especially in human-resource development to support expanded investment, he added.

Moreover, with the impact from the euro-zone economic crisis, Thailand and its Asean partners should strengthen economic integration under Asean-plus agreements to ensure East Asia's economic growth.

The Jetro chief said Thailand could continue to grow as a centre of Asean by focusing on manpower and education development.

-- The Nation 2012-09-24

[asiawatcher]

A simple courtesy - information should be in English as obviously foreign investment probably means foreigners don't speak or read Thai - Duh. But you can bet that won't happen any time soon. The only English reports we get are from sanitised media reports in The Nation and Bangkok Post. Expecting the Government to issue anything in multiple languages is a bit much now isn't it?

[Thaddeus]

Jetro urges govt to provide information in English to foreign businesses

"yesum, is the ceement pond finished"

[noitom]

Foreign investment in Thailand is "confident." What a preposterous supposition. Given the level of rampant government, police, and business corruption, the preferential Thai sakdi na system rampant in business and society, the open trade in prostitution and illegal intellectual property, the known abuses of human capital, The obvious drug hub channeling, the total breakdowns of security at all levels, does anyone really believe that Thailand is a risk mitigated business investment environment?

Given the level of corruption, graft, and preferential society in Thailand, and given the opaqueness of business operations, can you imagine the "insider" business and "fixing" that must go on in the Thai securities industry? Secretly operating with no investigative journalism and in fact a press that seems to protect this "inside" operation by not digging or following up.

Just imagine what really goes on here in Thailand that we don't read about. Just imagine.

[RisqEM]

I agree, this article has a very misleading title. I've already read in international publications speaking of the mismanagement of funds to fix the damns, I think it was 30,000,000,000 baht that has magically disappeared. The confidence isn't there, and this guy is warning the Thai government to publish in English to give investors an accurate view, he says if it keeps happening small investors will leave. Naturally, after that the big guys leave too! With the rice pledging scheme, the populist policies of the government and lack of funds to pay for them, rising costs, a housing bubble that international investors know will pop, investor confidence isn't rising, this is just another case of misinformation put out by the media to make things look good inside the country, when any international publication will say a completely different story.

Thailand isn't famous for opportunity, it's famous for drugs, women, corruption, and beaches!

[TheKrayTriplet]

Foreign investment in Thailand is "confident." What a preposterous supposition. Given the level of rampant government, police, and business corruption, the preferential Thai sakdi na system rampant in business and society, the open trade in prostitution and illegal intellectual property, the known abuses of human capital, The obvious drug hub channeling, the total breakdowns of security at all levels, does anyone really believe that Thailand is a risk mitigated business investment environment?

Given the level of corruption, graft, and preferential society in Thailand, and given the opaqueness of business operations, can you imagine the "insider" business and "fixing" that must go on in the Thai securities industry? Secretly operating with no investigative journalism and in fact a press that seems to protect this "inside" operation by not digging or following up.

Just imagine what really goes on here in Thailand that we don't read about. Just imagine.

Your rant is probably cleansing for you, but as a reflection of what the article is about and what was said - of no relevance whatsoever.

The OP title is

'Investors confident' on flood prevention.'

This is then confirmed with the following text

"Setsuo Iuchi, president of the Japan External Trade Organisation (Jetro) Bangkok, said in an exclusive interview with The Nation that he expected the Thai government to continue its plans to prevent floods this year and in the following years."

No mention about

"rampant government, police, and business corruption, the preferential Thai sakdi na system rampant in business and society, the open trade in prostitution and illegal intellectual property, the known abuses of human capital blah blah blah"

There must be other places you can demonstrate your oratory, why not demonstrate in Bangkok, it's legal, whereas here,it's just off topic.

[Rosco911]

Investors confident' on flood prevention

[easybullet3]

this article means absolutely nothing!

[Orac]

this article means absolutely nothing!

Of course it does. Its only an interview with the President of the representative group of Japanese investors in Thailand - the biggest external investor here. Who is he to comment on Japanese investment and confidence in Thailand given there are any number of anonymous TV pundits who could have given a far more accurate picture.

[Payboy]

The Jetro chief said Thailand could continue to grow as a centre of Asean by focusing on manpower and education development.

Typical Japanese understatement.

[HiSoLowSoNoSo]

I am confident that the 30,000,000,000 baht for food prevention has magically disappeared and not very confident as an investor that we not will se any future floodings.

[Markaew]

With the ASEAN agreement just around the corner wouldn't it be obvious that all information needs to be in English? After all, Thailand agreed to the ASEAN agreement and it states the common language is be English.This is an excellent example of how Thailand will be behind the curve in 2015. They will still be asking "I need to report that in English?":

Edited September 24, 2012 by Markaew

[Thai at Heart]

Well at least one person is confident. But then probably lives in a penthouse in sukhumvit. Now if he got wet all bets are off

[MikeOboe57]

How can anyone be confident when the Government uses "water-pushing machines" to tackle the flooding?

[rbrooks]

Investors? I see only one in the article of course and he lives in Thailand and is not an investor but is getting paid to speak for Japan as a group probably from the Thais so lets sum this up as worthless information to appease the masses and convince the world they have the matter under control. Granted if the weather holds and the rains are not as strong as last year Thailand will be OK but it does not take a rocket or weather scientist to figure that out.

[GentlemanJim]

Well if the article reflects the interview, then neither reflect the headline.

[Orac]

Investors? I see only one in the article of course and he lives in Thailand and is not an investor but is getting paid to speak for Japan as a group probably from the Thais so lets sum this up as worthless information to appease the masses and convince the world they have the matter under control. Granted if the weather holds and the rains are not as strong as last year Thailand will be OK but it does not take a rocket or weather scientist to figure that out.

The guy you are trying to pass off as some sort of Thai paid stooge is a Japanese government representative who has worked in the Japanese Ministry of Economy, Trade and Industry for over 29 years so obviously has significant influence of Japanese direct investment in Thailand.