Yingluck Calls Thailand A Haven For Foreign Investment

[stiggy]

Neither Chaingmai kelly.

We had rights to FTA set up via Austrade. We where also under way with getting BOI status however to much BS, asking us to change the very core of our business that would have direct repercussions else where. So we then went for regional distribution centre, again a pile of forms and corruption to overcome.

Regarding Import customs always played with us.If not on duty then by sitting on goods and charging storage.Or by making there own delightful system of HS codes, even changing them from the original document.Offering connected businesses to assist with domestic freight to make things easier.

Then there is the Thai banks, purely a one way system. Money in easy, money out to pay suppliers, a minefield thats forever changing.

I wont even go into the difficulties with employing staff here, the law is there to protect them not the business owners.As for getting skilled workers that are non Thai involved, forget it unless you are looking at employing an army of Thais to meet the labor departments quota.

We are not a small business and truly international in nature, Vietnam, Singapore, Indonesia, India, China and Malaysia all make life easier for our business. Of course all present challenges, but none are as rotten to the core business wise as Thailand from my experience. We now base our Asian HQ in KL so easy to set up it was a revelation.

Roll on APEC in 2015 then Thailand is truly screwed, I'm of the opinion the next two years things will just get worse. As the greedy hands that run things here fill there pockets before the cash cows are culled.

[chiangmaikelly]

Neither Chaingmai kelly.

We had rights to FTA set up via Austrade. We where also under way with getting BOI status however to much BS, asking us to change the very core of our business that would have direct repercussions else where. So we then went for regional distribution centre, again a pile of forms and corruption to overcome.

Regarding Import customs always played with us.If not on duty then by sitting on goods and charging storage.Or by making there own delightful system of HS codes, even changing them from the original document.Offering connected businesses to assist with domestic freight to make things easier.

Then there is the Thai banks, purely a one way system. Money in easy, money out to pay suppliers, a minefield thats forever changing.

I wont even go into the difficulties with employing staff here, the law is there to protect them not the business owners.As for getting skilled workers that are non Thai involved, forget it unless you are looking at employing an army of Thais to meet the labor departments quota.

We are not a small business and truly international in nature, Vietnam, Singapore, Indonesia, India, China and Malaysia all make life easier for our business. Of course all present challenges, but none are as rotten to the core business wise as Thailand from my experience. We now base our Asian HQ in KL so easy to set up it was a revelation.

Roll on APEC in 2015 then Thailand is truly screwed, I'm of the opinion the next two years things will just get worse. As the greedy hands that run things here fill there pockets before the cash cows are culled.

OK then. Why is foreign investment in Thailand this year going to reach 1 trillion baht for the first time?

[stiggy]

For one experience tells me to doubt any government based statements, particularly those that involve figures.

Be interesting to see which industries are behind this growth, and the make up of companies that will help reach this magical figure.

I also guess that most of this foreign investment is for Infrastructure based projects, that indirectly will line the pockets of the elite here anyhow.

It will not change that for most existing businesses here, Thailand is difficult to operate in and is becoming ever more difficult to do so.

Good luck to them they will need it.

[chiangmaikelly]

For one experience tells me to doubt any government based statements, particularly those that involve figures.

Be interesting to see which industries are behind this growth, and the make up of companies that will help reach this magical figure.

I also guess that most of this foreign investment is for Infrastructure based projects, that indirectly will line the pockets of the elite here anyhow.

It will not change that for most existing businesses here, Thailand is difficult to operate in and is becoming ever more difficult to do so.

Good luck to them they will need it.

The target industries include special-technology textiles, plastic, automotive, electrical items and electronics, and environmentally friendly products.

http://www.nationmultimedia.com/business/Govt-stimulus-Asean-growth-to-push-Thai-GDP-30195296.html

I have noticed when the figures don't agree with a posters opinion that the figures must be wrong. I don't think so. So if you got some better numbers produce them.

[stiggy]

Ahhhh quoting Targets that are printed in the Nation ...must be true then

A simple google of forecasted numbers followed by actual results will prove my point

Interesting that two of the areas they specify are exactly the industries we are in, so with even more confidence from our direct experience I can state BS all smoke and mirrors.

As I said a shame as Thailand has a lot to offer and I have loved living here.

[chiangmaikelly]

Ahhhh quoting Targets that are printed in the Nation ...must be true then

A simple google of forecasted numbers followed by actual results will prove my point

Interesting that two of the areas they specify are exactly the industries we are in, so with even more confidence from our direct experience I can state BS all smoke and mirrors.

As I said a shame as Thailand has a lot to offer and I have loved living here.

Read the whole article. The Nation isn't exactly pro Yingluck eh? Some people make it big like Minor corp He started with a couple of thousand dollars I think; some don't.

Edited March 7, 2013 by chiangmaikelly

[stiggy]

Our group of businesses has done very well, the Asian market overall is fairly buoyant for us and looks to remain good.

However I think you have lost the point here, its not the state of the economy in question or if a businesses can make it or not. But the fact that Yingluck proclaims a business haven here, it isn't especially when compared to the often open arms of its neighbours.

We actually pay more Tax in KL, but overall we are better off in so many ways it's a no brainer.

Thailands backward business policies forced this upon us, we where quite happy to pay revenue to the Kingdom and did for over 10 years.

[chooka]

I would like to start up a micro brewery ........ not going to hand 51% of any investment to a local.

Why on earth would anyone invest thier money in Thailand when you can never own the company. Foreigners invest all the money take all the risks and thai own the company scooping the majority of the profits without investing a single baht.

The Treaty of Amity and Economic Relations Between the Kingdom of Thailand and the United States of America was a treaty signed at Bangkok on May 29, 1966. The treaty allows for American citizens and businesses incorporated in the U.S, or in Thailand to maintain a majority shareholding or to wholly own its company in Thailand, and thereby engage in business on the same basis as would a Thai national.

Well I could be wrong but is there not a lot of small businesses owned by expats?

Admittedly there is a ton of paper work but is it not a fact?

How much do they own. Maybe they put in 100% of the finances but they can only own 49% and have to give away the major share.

[chiangmaikelly]

Why on earth would anyone invest thier money in Thailand when you can never own the company. Foreigners invest all the money take all the risks and thai own the company scooping the majority of the profits without investing a single baht.

The Treaty of Amity and Economic Relations Between the Kingdom of Thailand and the United States of America was a treaty signed at Bangkok on May 29, 1966. The treaty allows for American citizens and businesses incorporated in the U.S, or in Thailand to maintain a majority shareholding or to wholly own its company in Thailand, and thereby engage in business on the same basis as would a Thai national.

Well I could be wrong but is there not a lot of small businesses owned by expats?

Admittedly there is a ton of paper work but is it not a fact?

How much do they own. Maybe they put in 100% of the finances but they can only own 49% and have to give away the major share.

If they are American they can own 100%

[waza]

Our group of businesses has done very well, the Asian market overall is fairly buoyant for us and looks to remain good.

However I think you have lost the point here, its not the state of the economy in question or if a businesses can make it or not. But the fact that Yingluck proclaims a business haven here, it isn't especially when compared to the often open arms of its neighbours.

We actually pay more Tax in KL, but overall we are better off in so many ways it's a no brainer.

Thailands backward business policies forced this upon us, we where quite happy to pay revenue to the Kingdom and did for over 10 years.

With all do respect the point of the thread is the success of international investment in Thailand which will top 1 trillion dollars for the first time this year.

The determination of the validity of a bias report giving an approximate target is difficult as it isnt backed up by any other articles and Udom Wongviwatchai, secretary-general of the Board of Investment would have a vested interest in publicising a dramatic success especially in a climate where ministers are replaced for poor performance. However anecdotal evidence show that there is a movement of Japanese investment from China to SEA due to political reasons. This combined with the costs restructuring of the manufacturing industry post flood and stated expansions would suggest there indeed would be an increase in foriegn investment in Thailand. But its interesting to note that the 1 trillion in investment matchs the losses from the agricultural subsidies.

Edited March 7, 2013 by waza

[F430murci]

Neither Chaingmai kelly.

We had rights to FTA set up via Austrade. We where also under way with getting BOI status however to much BS, asking us to change the very core of our business that would have direct repercussions else where. So we then went for regional distribution centre, again a pile of forms and corruption to overcome.

Regarding Import customs always played with us.If not on duty then by sitting on goods and charging storage.Or by making there own delightful system of HS codes, even changing them from the original document.Offering connected businesses to assist with domestic freight to make things easier.

Then there is the Thai banks, purely a one way system. Money in easy, money out to pay suppliers, a minefield thats forever changing.

I wont even go into the difficulties with employing staff here, the law is there to protect them not the business owners.As for getting skilled workers that are non Thai involved, forget it unless you are looking at employing an army of Thais to meet the labor departments quota.

We are not a small business and truly international in nature, Vietnam, Singapore, Indonesia, India, China and Malaysia all make life easier for our business. Of course all present challenges, but none are as rotten to the core business wise as Thailand from my experience. We now base our Asian HQ in KL so easy to set up it was a revelation.

Roll on APEC in 2015 then Thailand is truly screwed, I'm of the opinion the next two years things will just get worse. As the greedy hands that run things here fill there pockets before the cash cows are culled.

OK then. Why is foreign investment in Thailand this year going to reach 1 trillion baht for the first time?

Has more to do with weaknesses in Euro markets and China being on an absolute path of implosion. Everyone is shorting everything China and China is facing trillions in defaults for for loans to build approximately 10 billion in square footage of vacant residential property. China reports whatever growth they want, but world markets and economists know the reality.

QE money is currently flooding foreign balance sheets and will land largely in emerging markets, but for less flattering reasons than you advocate. QE in now flowing to lowest areas and following a path of least resistance, similar to water.

[waza]

Our group of businesses has done very well, the Asian market overall is fairly buoyant for us and looks to remain good.

However I think you have lost the point here, its not the state of the economy in question or if a businesses can make it or not. But the fact that Yingluck proclaims a business haven here, it isn't especially when compared to the often open arms of its neighbours.

We actually pay more Tax in KL, but overall we are better off in so many ways it's a no brainer.

Thailands backward business policies forced this upon us, we where quite happy to pay revenue to the Kingdom and did for over 10 years.

With all do respect the point of the thread is the success of international investment in Thailand which will top 1 trillion dollars for the first time this year.

The determination of the validity of a bias report giving an approximate target is difficult as it isnt backed up by any other articles and Udom Wongviwatchai, secretary-general of the Board of Investment would have a vested interest in publicising a dramatic success especially in a climate where ministers are replaced for poor performance. However anecdotal evidence show that there is a movement of Japanese investment from China to SEA due to political reasons. This combined with the costs restructuring of the manufacturing industry post flood and stated expansions would suggest there indeed would be an increase in foriegn investment in Thailand. But its interesting tio note that the 1 trillion in investmant matches the losses from the agricultural subsidies.

Please provide a link for the agricultural subsides because that is 100 times more than I have seen quoted. The loss in agricultural subsidies I remember was in the few millions.

With all do respect the point of the thread is the success of international investment in Thailand which some minister claims will top 1 trillion dollars for the first time this year.

Edited March 7, 2013 by waza

[waza]

The determination of the validity of a bias report giving an approximate target is difficult as it isnt backed up by any other articles and Udom Wongviwatchai, secretary-general of the Board of Investment would have a vested interest in publicising a dramatic success especially in a climate where ministers are replaced for poor performance. However anecdotal evidence show that there is a movement of Japanese investment from China to SEA due to political reasons. This combined with the costs restructuring of the manufacturing industry post flood and stated expansions would suggest there indeed would be an increase in foriegn investment in Thailand. But its interesting tio note that the 1 trillion in investmant matches the losses from the agricultural subsidies.

Please provide a link for the agricultural subsides because that is 100 times more than I have seen quoted. The loss in agricultural subsidies I remember was in the few millions.

With all do respect the point of the thread is the success of international investment in Thailand which will top 1 trillion dollars for the first time this year.

So you were not telling the truth when you wrote, "But its interesting tio note that the 1 trillion in investment matches the losses from the agricultural subsidies." I figured as much.

Annual losses of more than Bt100 billion from the rice-pledging scheme, the ongoing Bt45-billion programme to shore up rubber prices, or the Bt30-billion corn subsidies for this year: All these could be narrowed, if not abolished, thanks to farmland zoning. http://www.nationmultimedia.com/business/Farmland-zoning-could-lead-to-lower-crop-subsidies-30200212.html

The Thai government's rice-pledging scheme is taking a toll on Thailand's tightly squeezed budget, as some of the funds from fiscal years 2014-16 might be required to offset the 100 billion baht (US$3.3 billion) loss......The World Bank had earlier estimated that in the first year, the scheme would cost the country 115 billion baht out of its budget of 376 billion baht.

http://www.asianewsnet.net/Thailand-rice-subsidy-scheme-taking-toll-on-budget-43610.html

Since starting the pledging scheme at the guaranteed price of Bt15,000 per tonne of white paddy rice on October 7, 2011 to February this year, the Yingluck government has spent Bt476 billion, higher than the estimated Bt450 billionA total of 29.65 million tonnes of rice has been entered to the government stockpiles, with warehousing adding to the cost of the programme - approximately Bt800 a month per tonne.

http://www.thaivisa.com/forum/topic/622389-thai-commerce-ministry-seeks-to-trim-rice-price/

Thats Bt 288,000,000,000 per year to store the rice and that just the rice subsidy, now add onion, tarrow, cassava, rubber ect schemes. It all quickly adds up. A hell of a lot more than, "The loss in agricultural subsidies I remember was in the few millions".

Edited March 7, 2013 by waza

[chiangmaikelly]

To Waza, OK so you made up the 1 trillion baht number like I said.

[waza]

To Waza, OK so you made up the 1 trillion baht number like I said.

To Waza, OK so you made up the 1 trillion baht number like I said.

we will see

[chiangmaikelly]

To Waza, OK so you made up the 1 trillion baht number like I said.

>To Waza, OK so you made up the 1 trillion baht number like I said.

we will see

If you were talking about the future you should have posted you were making up a fantasy number that fit with your idea of Thai Apocalypse instead you wrote, "But its interesting to note that the 1 trillion in investmant matches the losses from the agricultural subsidies." Which is a blatant fabrication.

[marstons]

Exchange knowledge, that will be a prity one sided exchange

"The Thai and Belgian premiers agreed in principle to exchange knowledge on medical science, food safety, innovative technology, high-level research and development and logistics to boost Thailand’s competitive edge." Boosting Thialands edge by be to teach them English

Edited March 7, 2013 by marstons

[chiangmaikelly]

Exchange knowledge, that will be a prity one sided exchange

"The Thai and Belgian premiers agreed in principle to exchange knowledge on medical science, food safety, innovative technology, high-level research and development and logistics to boost Thailand’s competitive edge." Boosting Thialands edge by be to teach them English

Maybe he asked her about external debt and how she could run a country with only a fraction of the loans that he got for Belgium. http://www.indexmundi.com/g/r.aspx?c=be&v=94

Belgium 1,399 USD Billions

Thailand 155 USD Billions

Edited March 7, 2013 by chiangmaikelly

[waza]

To Waza, OK so you made up the 1 trillion baht number like I said.

We will see

If you were talking about the future you should have posted you were making up a fantasy number that fit with your idea of Thai Apocalypse instead you wrote, "But its interesting to note that the 1 trillion in investmant matches the losses from the agricultural subsidies." Which is a blatant fabrication.

My number are a hell of a lot closer than your few million just to justify your concept of a Thai economic miracle. Also that 1 trillion in losses may be in the near future but they are as much a fantasy as Udom Wongviwatchai's 1 trillion in foriegn investments which you so proudly quote and have as much veracity. Edited March 7, 2013 by SlyAnimal
Fixed quotes so they display correctly

[davidstipek]

"Investment" = Loans.

Why would Thailand, with all its new found wealth, be kissing up to small EU countries for loans?

If Thailand is such a great investment, why does PM Shinawatra have to tout it to small EU countries?

When you're going to Belgium, which itself had to have its banks bailed out, and is itself in debt 100% of its GDP for money, you're scraping the bottom of the barrel.

Great photo op though.

Hey!

She's a Woman...

Woman Love Chocolate.... Belgium famous for.... Chocolate...

from the looks of her waist-line currently... looks like she has been "Double Dippin.."!

Is a great pic... for Jenny Craig...

[chiangmaikelly]

To Waza, OK so you made up the 1 trillion baht number like I said.

We will see

If you were talking about the future you should have posted you were making up a fantasy number that fit with your idea of Thai Apocalypse instead you wrote, "But its interesting to note that the 1 trillion in investmant matches the losses from the agricultural subsidies." Which is a blatant fabrication.

My number are a hell of a lot closer than your few million just to justify your concept of a Thai economic miracle. Also that 1 trillion in losses may be in the near future but they are as much a fantasy as Udom Wongviwatchai's 1 trillion in foriegn investments which you so proudly quote and have as much veracity.

I am quoting information that is on topic and having to do with foreign investment. You are hung up on changing the topic to farming. So get back on topic, will ya.

[Crushdepth]

the Thai premier said Thailand has enjoyed political and economic stability

We haven't had an armed insurrection or coup for over 2 years...

[NoBrainer]

Maybe she should check with some of the Foreigners that invested with her older brother. I don't think that they would agree to her statement. 5555