PM firms on branding Thailand as monetary hub

BANGKOK, Oct 9 – Prime Minister Yingluck Shinawatra stressed Thailand’s ambition to become a Southeast Asian hub for foreign investment as part of its preparation for the ASEAN Economic Community (AEC) in 2015.

Meeting Juergen Fitschen of Germany’s Deutsche Bank AG on Monday, Ms Yingluck said the Thai government emphasises the monetary sector and capital market in the country.

Thailand’s goal is to become an investment base for foreign investors seeking to expand in the region, including neighbouring Myanmar, she said. “Thailand wants to develop the quality and skills of Thai labour to be ready for the AEC.”

The premier said the Thai government welcomes Deutsche Bank investment in Thailand, particularly financial support for small- and medium-sized enterprises.

Ms Yingluck said she is pleased with the improving economic situation in Europe but Mr Fitschen cautioned it must be closely monitored to prevent a recurrence and stimulate European governments and peoples to realise the impact of the economic crisis. (MCOT online news)

-- TNA 2012-10-09

Hubba Hubba

Indeed, they haven't enacted the foreign money laundering and terrorism controls yet, and foreign banks have a limited presence.

" Ms Yingluck said the Thai government emphasises the monetary sector and capital market in the country."

Which is why they are on the money laundering watch list and about to be downgraded.

"Ms Yingluck said she is pleased with the improving economic situation in Europe"

Is she dyeing blond hair?

" Ms Yingluck said the Thai government emphasises the monetary sector and capital market in the country."

Which is why they are on the money laundering watch list and about to be downgraded.

"Ms Yingluck said she is pleased with the improving economic situation in Europe"

Is she dyeing blond hair?

She knows sweet F.A.

When the monetary fund of Thailand has addressed the 400 issues the IMF has ,about the banking system in Thailand, maybe, just maybe someone might listen. HuB Hic

The recent events in mainland China attacking Japanese products will have concentrated minds wonderfully towards looking towards alternatives to China.

To some extent this has been going on for some time, but the impetus is to accelerate. Thailand, Malaysia and Indonesia would like to be the centre of this action.

Thailand has a wonderful opportunity but unfortunately has not (yet) the dynamic to modernise appropriately.

Last years flood management and a political leadership underpinned by deranged and not very bright individuals sitting on a reactionary agricultural base undermines the need to accelerate modernisation.

Yingluck is making the right noises but her dysfunctional family continually undermines what needs to be done.

In other words Myanmar is ripe for development through massive foreign investment and Thailand wants to control that, for a fee of course. But Yingluck isnt concerned with her families interests just whats good for Thailand ................

In 2011, when new President Thein Sein's government came to power, Burma embarked on a major policy of reforms including anti-corruption, currency exchange rate, foreign investment laws and taxation. Foreign investments increased from US$300 million in 2009-10 to a US$20 billion in 2010-11 by about 667%.^[6] Large inflow of capital results in stronger Burmese currency, kyat by about 25%. In response, the government relaxes import restrictions and abolishes export taxes. Despite current currency problems, Burmese economy is expected to grow by about 8.8% in 2011.^[7] After the completion of 58-billion dollar Dawei deep seaport, Burma is expected be at the hub of trade connecting Southeast Asia and the South China Sea, via the Andaman Sea, to the Indian Ocean receiving goods from countries in the Middle East, Europe and Africa, and spurring growth in the ASEAN region. ^{http://en.wikipedia....conomy_of_Burma}

Prime Minister Yingluck Shinawatra is putting a huge effort into helping the Dawei special economic zone project materialise, to make it the flagship in a new chapter of relations between Thailand and Myanmar. 

She has made it a national agenda and spends every single opportunity she can find with the Myanmar leader to talk about the project.

Her ministers are supporting her by inviting all investors they meet around the world to join in, too............ The Dawei project is important for Yingluck as it was initiated by her elder brother and former prime minister Thaksin Shinawatra years ago. It is Yingluck's mission to make Thaksin's dream come true.

http://www.nationmul...-30191642.html

Ousted Thai PM Thaksin Shinawatra urges Japan to invest in Burma ’s Dawei deep-sea port project. http://www.irrawaddy.org/archives/7059

^{Visiting former Thai Prime Minister Thaksin Shinawatra stressed the necessity of a partnership between Japan and Thailand on the development of a special economic zone in Myanmar, an impoverished Southeast Asian country now on the road to democracy.}

^{Thaksin said during an exclusive interview with The Yomiuri Shimbun on Friday that Myanmar, Thailand’s neighbor, has granted Thai companies concessions to develop a special economic zone in Dawei in the southern part of the country ...................................}

^{Economic development of Dawei will be “an important strategy for both Japan and Thailand,” Thaksin said.}

^{http://www.shwe.org/...hip-in-myanmar/}

We didn't even make it halfway through the week before another new HUB was unveiled by the government!

Hubba Hubba

i think she means monetory laundry hub

but i thought Thailand used all possible hubs already

" Ms Yingluck said the Thai government emphasises the monetary sector and capital market in the country."

Which is why they are on the money laundering watch list and about to be downgraded.

"Ms Yingluck said she is pleased with the improving economic situation in Europe"

Is she dyeing blond hair?

Indeed, they haven't enacted the foreign money laundering and terrorism controls yet, and foreign banks have a limited presence.

Strange, coming 1 day after the 'blacklist' announcement

Another frickin' HUB!

Thailand’s goal is to become an investment base for foreign investors seeking to expand in the region, including neighbouring Myanmar, she said. “Thailand wants to develop the quality and skills of Thai labour to be ready for the AEC.”

yep! that's what she said

Thailand’s goal is to become an investment base for foreign investors seeking to expand in the region, including neighbouring Myanmar, she said. “Thailand wants to develop the quality and skills of Thai labour to be ready for the AEC.”

yep! that's what she said

She may be a few years late with that unless she believes in "Miracle Thailand".

It is unfortunate that in Thailand the announcement is everything, the implementation a grubby afterthought.

Are there plans for open formation of companies by foreign investors in Thailand? No.

Are there plans for free movement of currency in and out of Thailand? No.

Are there plans for improving the rule of law and eliminating corruption? No.

We didn't even make it halfway through the week before another new HUB was unveiled by the government!

Indeed. Also my thought.

Hubs are places where people look for inspiration. People and ideas are linked around a hub.

Those people are called fellow hubbers and they seem to have caged themselves in some sort of henhouse.

In Europe the word hub has many different pronounciations. Personally I especially like the Dutch pronounciation of hub

which may or may not relate to the existence of special hub ("hup") shoes. Look and feel of these wonderful shoes are quite good, but do not really let the Dutch walk faster. The Deutsche Bank director learned to pronounce hub as hoop, no, not to be confused with hope, to remind Germans of the functionality of a rotating fan in their beergarden aka Hub, Hub, Hubschrauber.

All dogs in heaven do seem to bark somewhat differently but as long as dogs and trees coexist dogs always appear to bark up a tree. The year 2015 mentioned in the article suggests that in 2012 the monetary related tree in Thailand has not been fully grown yet.

By any recognised measure, it is impossible to deny that Thailand is most definitely a "Hub of Money".