Yingluck Woos Hong Kong Business Sector To Invest In Thailand

[webfact]

Thai PM woos Hong Kong business sector to invest in Thailand
By English News



HONG KONG, Feb 26 – Thai Prime Minister Yingluck Shinawatra today urged the business community in Hong Kong to invest in Thailand given the kingdom’s economic stability and a planned Bt2 trillion infrastructure development.

During a breakfast meeting with leading bankers and investors in the Hong Kong special administrative region, she reassured them of Thailand’s economic growth by 0.1 per cent to 6.4 per cent last year and a targeted expansion by 5-6 per cent this year.

Ms Yingluck emphasised what she called the “country strategy” which aims at developing Thailand’s competitive edge, investing in infrastructure, agricultural zoning, and promoting small- and medium-sized enterprises nationwide.

“The government plans to invest Bt2 trillion on fundamental infrastructure projects to elevate the country’s transport and logistics systems,” she said. “It will improve Thailand’s competitiveness and promote the kingdom’s connectivity with countries in the region and Hong Kong.”

With efficient airports and deep-sea ports, Thailand has become one of the world’s leading hubs for international transport, she said.

Ms Yingluck later paid a courtesy call on Hong Kong Chief Executive Leung Chun-ying during which the two leaders witnessed the signing of a memorandum of understanding on Thai-Hong Kong trade and economic cooperation. (MCOT online news)


-- TNA 2013-02-26

[Pimay1]

There's that word again.

[bigbamboo]

Those M.O.U.s are really piling up.

There can't be many countries left who haven't got KY's autograph on one.

[rubl]

"During a breakfast meeting with leading bankers and investors in the Hong Kong special administrative region, she reassured them of Thailands economic growth by 0.1 per cent to 6.4 per cent last year and a targeted expansion by 5-6 per cent this year."

Consistency is a bit of a problem. The economical growth in 2012 as expressed in GDP seems to have been 6.4% after 2011 with 1.0% due to flooding mostly, although the WB had 4.5% only. On the 18th this month we had NESDB express expectations for 4.5 - 5.0% this year and in December even PM Yingluck was talking about 4.5 - 5.5%. With the masterly performance and spending spree it seems the government thinks it can outdo itself again. Plus the income of the rice export of course, Thai quality rice for a suitable high price.

[jamhar]

Maybe she can interest them into building some more utilities,

like a power plant maybe?

[Pimay1]

Maybe she can interest them into building some more utilities,

like a power plant maybe?

She is stopping over in HK. Lot of boats in HK. Is Plod with her?

[webfact]

THAI-CHINESE RELATIONS
PM meets Hong Kong businessmen

HONG KONG: -- Prime Minister Yingluck Shinawatra met the Hong Kong business community during her official visit to the island on Tuesday and invited businessmen to invest in Thailand.

Yingluck went on to Hong Kong after attending the inauguration ceremony of South Korea's President Park Geun-hye in Seoul on Monday.

She spoke to the business community about Thailand's stability and stressed its five to six per cent growth forecast.

She met Soo Thiam Tan of AIA, Mark McCombe of Blackrock, Dr Fan Gongsheng of China Investment International (Hong Kong), Edmund Ng of Hong Kong Monetary Authority, Christopher Chan of JP Morgan and Angus Hui of Shroders.

Thailand's Finance Ministry and Board of Investment hosted a seminar on "Thailand's Strategies: A Roadmap for Real Opportunities" to build confidence among Hong Kong businessmen in Thailand. Thai government executives in the finance and monetary fields also met prominent Hong Kong businessmen in a One-on-Ten meeting session.


-- The Nation 2013-02-26

[webfact]

PM boosts investors’ confidence in Hong Kong

BANGKOK, 26 February 2013 (NNT) – Prime Minister Yingluck Shinawatra, during her visit to Hong Kong, assured investors of the stability of the Thai economy, claiming the nation's economic growth this year will be around 5-6 percent.

During her visit to Hong Kong, Ms Yingluck met with high-ranking executives from the banking and investment sector, which is the largest financial market in Asia. The Thai Premier assured Hong Kong investors of the Thai economic stability. She said Thailand saw a 6.4 percent economic growth in 2012, and expected to see a potential growth of between 5 to 6 percent this year.

She also told the investors about the government’s investment plans, saying Thailand would invest over 2 trillion baht, around 70 billion US dollars, in its basic infrastructure; the amount accounted for approximately 17 percent of the country’s GDP. The project is scheduled to run for 7 years, from 2013-2019.

She added that the Thai government has a plan to further develop the country’s logistics system that includes railways, shipping routes, and public utility along the border areas.


-- NNT 2013-02-26

[Ricardo]

Wouldn't some of Asia's most switched-on businessmen already know, about Thailand's plans for new rail-links & expanding Swampy & Laem Chabang, or do their local news-media not report that sort of thing ?

Perhaps she should spell out opportunities in the counterfeit-manufacturing industry, or the nascent furbie-destruction/recycling trade, also be offering top-quality year-old rice at an excellent negative-discount to world-market-prices ?

[Pimay1]

Wouldn't some of Asia's most switched-on businessmen already know, about Thailand's plans for new rail-links & expanding Swampy & Laem Chabang, or do their local news-media not report that sort of thing ?

Perhaps she should spell out opportunities in the counterfeit-manufacturing industry, or the nascent furbie-destruction/recycling trade, also be offering top-quality year-old rice at an excellent negative-discount to world-market-prices ?

Or a great deal on thousands of tonnes of rotten rubber.

[slapout]

In the 'red neck' world of business, this is referred to as "running your traps". The PM and her family's mode of operation does seem to neglect that you need to make a real investment yourself "bait for the traps". MOUs are as common as tissues to these people, and have virtually no legal comitment attached.

You do have to acknowledge one thing. The PM seems to have a homeing device for the shopping areas of the world, when the flight plans are filed, for all these critial foreign trips.

[NongKhaiKid]

Wouldn't some of Asia's most switched-on businessmen already know, about Thailand's plans for new rail-links & expanding Swampy & Laem Chabang, or do their local news-media not report that sort of thing ?

Perhaps she should spell out opportunities in the counterfeit-manufacturing industry, or the nascent furbie-destruction/recycling trade, also be offering top-quality year-old rice at an excellent negative-discount to world-market-prices ?

HK businessmen will also know that one of their own, Gordon WU ( Hopewell Holdings ), HAD TO pay B500 Million in bribes to get road building contracts in the 90's which were never finished because of the big Asia crash in 1997. The figure I quoted was given to me by a Hopewell employee in 1998, someone I knew in a previous life and who wasn't prone to exaggeration

[MaxLee]

PM boosts investors confidence in Hong Kong

BANGKOK, 26 February 2013 (NNT) Prime Minister Yingluck Shinawatra, during her visit to Hong Kong, assured investors of the stability of the Thai economy, claiming the nation's economic growth this year will be around 5-6 percent.

During her visit to Hong Kong, Ms Yingluck met with high-ranking executives from the banking and investment sector, which is the largest financial market in Asia. The Thai Premier assured Hong Kong investors of the Thai economic stability. She said Thailand saw a 6.4 percent economic growth in 2012, and expected to see a potential growth of between 5 to 6 percent this year.

She also told the investors about the governments investment plans, saying Thailand would invest over 2 trillion baht, around 70 billion US dollars, in its basic infrastructure; the amount accounted for approximately 17 percent of the countrys GDP. The project is scheduled to run for 7 years, from 2013-2019.

She added that the Thai government has a plan to further develop the countrys logistics system that includes railways, shipping routes, and public utility along the border areas.

-- NNT 2013-02-26

"My dearest, and most excellency business executives of Hong Kong, this is why you should invest in our country... Our Plan is to improve Thailand's infrastructure with Trillions of Baht, but we can't tell you any details, HOW we do it... If you have any more questions, please ask my ministries for more information, bye, bye...."

[DonaldBattles]

As Thai bushiness in The Peoples republic of Bangkok are mostly ethnic Chinese we will get you a work permit quickly or stay and don't worry about us deporting our family.

[OzMick]

I'd say there would be significant representation from the inflatable boat and domestic generator industries. Perhaps they should get together and develop a floating generator?

[Pimay1]

I'd say there would be significant representation from the inflatable boat and domestic generator industries. Perhaps they should get together and develop a floating generator?

Well Mick I hate to be the bearer of bad news but. Looks like you are a day late and a dollar short as they say. Join the club

[RisqEM]

Rolling balckouts, floods, and rampant corruption. How appealing!

[chainarong]

Wounder if this includes streamling the process for Expats, I got a residency permit and no expiry date with my work visa and it cost next to nothing in HK

[DonaldBattles]

Hong Kong is the place that you should be. What kind of salary would you earn there to take care of yourself and your family?

[Thai at Heart]

Wounder if this includes streamling the process for Expats, I got a residency permit and no expiry date with my work visa and it cost next to nothing in HK

don't be stupid. That would be forward thinking.

[huanga]

While she is wooing HK businessmen to pour (invest) money into Thailand, her finance minister is "ordering" Central Bank to raise interest rate to stop money from coming in....

Is this the way how PT operates? AMBIGUITY!

[waza]

Thai Prime Minister Yingluck Shinawatra yesterday kick-started her visit to South Korea and Hong Kong and dismissed speculation about a plan to meet her fugitive brother Thaksin. "I will not meet Thaksin in Hong Kong as has been alleged [during the two-day trip]," she said.
Yingluck, accompanied by her son Supasek Amornchat, is due to attend the inauguration of South Korea's first female president, Park Geun-hye........
Deputy Prime Minister Chalerm Yoobamrung will be acting prime minister until tomorrow night.

So the real PM isnt meeting the actual PM, good news. The bad news is Charlem is acting PM.

[dcutman]

Wouldn't some of Asia's most switched-on businessmen already know, about Thailand's plans for new rail-links & expanding Swampy & Laem Chabang, or do their local news-media not report that sort of thing ?

Perhaps she should spell out opportunities in the counterfeit-manufacturing industry, or the nascent furbie-destruction/recycling trade, also be offering top-quality year-old rice at an excellent negative-discount to world-market-prices ?

Or a great deal on thousands of tonnes of rotten rubber.

That 10,000 tonnes rotting was discovered in only 3 northern provinces. I dont believe they have inspected down south here yet, where it is warehoused everywhere.

[keemapoot]

Typical road show countries do, but usually by the Secretary of Commerce, or Chambers of Commerce and Industry, etc., not usually done by a PM. Having said that, I suppose she and Thailand have good reason to worry about losing to Burma as the new foreign investors hotspot. Though, in fairness, industrial investment opportunities are well known and developed in Thailand in several areas, and inward investment will likely continue though not at a breakneck pace.

What could Yingluck do to get more of these guys interested? How about flashing that famous coquettish smile like the one with Obama? That ought to bring the bucks in..., or at least the studs.

[vijer]

Hey Hong Kong business people, just be aware, that the Thai's don't really want you here, and will exploit you. You won't be allowed to own land, you will have to employ only Thai's, and after you have the business successfully operating your business partner will dump you and begin competing against you. There will be investigations into the legality of your business, etc.

On another note, even if the Thai's spend 2 Trillion baht on infrastructure (less tea money of course), it they use the current construction techniques they will still have <deleted> infrastructure.

[Unwisemonkey]

Hey Hong Kong business people, just be aware, that the Thai's don't really want you here, and will exploit you. You won't be allowed to own land, you will have to employ only Thai's, and after you have the business successfully operating your business partner will dump you and begin competing against you. There will be investigations into the legality of your business, etc.

On another note, even if the Thai's spend 2 Trillion baht on infrastructure (less tea money of course), it they use the current construction techniques they will still have <deleted> infrastructure.

Nonsense! There will however be an increased number of successful business men from Hong Kong coming to Thailand and feeling so depressed by how much they have and Thai's don't they will take flying leaps from their hotel rooms. Success guilt is an awful condition.

[Locationthailand]

Two issues here -

1. I would love to have been an invitee to ask some pertinent questions - which I am sure should could never have answered ... and

2. This statement "...developing Thailand’s competitive edge, investing in infrastructure, agricultural zoning, and promoting small- and medium-sized enterprises nationwide". Any investor with half a brain will know this means increasing Thailand's ability to scam more money from third parties by having them invest in meaningless projects like agricultural "zoning" (<deleted> is that?).

I don't think Honkies and Chinese are that stupid. Also protocol of having a woman (despite her 'station') address these bwankers is kind of useless. She needs the entrepreneurs and guys like Robert Kwok or the likes of the Stanley Ho's and she will never get a personal meet at that level.

Edited February 26, 2013 by Locationthailand