Foreign investors sure Thailand will tide over political difficulties

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Foreign investors sure Thailand will tide over political difficulties
PETCHANET PRATRUANGKRAI,
THITIKARN SUPATTARAKUL
THE NATION



BANGKOK: -- FOREIGN INVESTORS would like the government and every sector of society to build a better investment environment for both foreigners and locals and believe that Thailand could break through the current political impasse with negotiations and better communication, Stanley Kang, chairman of the Joint Foreign Chambers of Commerce in Thailand, said recently.

Thailand has strong potential to be one of the leading nations in the Asean Economic Community (AEC) if it continues to develop a friendlier business environment, he said.

Foreign investors think that Thailand will pass through this political stage soon.

"JFCCT is concerned only with business not politics. Political stability is very important for foreign investment in every area. A political issue is a common issue, which can be found in every country. It's something that we have to go through. The best solution for every country is through negotiations," said Kang, who is the first Asian chairman of JFCCT.

Both the government camp and the protester camp have experienced in the past that protests are a drain on both foreign and local businesses. Everybody has to learn from that. Due to the protest, many students cannot go to school, people cannot go to work and productivity goes down, which isn't good for the country.

In a democratic country, people have the right to speak out. However, people have to have a good way of communication or negotiation and discussion is the best way to get the solution. Although political stability is one of the worrying factors for investors, they are looking at the midterm and long-term plan. They will continue to invest and expand in Thailand.

Foreign investors are still confident about doing business here as they understand that a demonstration is a right way for people to speak out. However, everyone needs to respect the rules and laws. The demonstration and political problem is a common issue for every country that people need to go through and learn for social development.

JFCCT has not disagreed with the call for civil disobedience, as businesses should not be intervened in by political conflicts, otherwise it would affect the country's growth.

Despite the political problems, the AEC is one of the reasons why foreign investors are considering investing more in Thailand, as the country has many advantages over other Asean countries.

To keep on attracting investment, Thailand needs to continue its development by strengthening its strengths.

To discuss ideas and plans for drawing investors, Kang yesterday met with Deputy Prime Minister Kittiratt Na-Ranong, who also serves as finance minister. They focused on how Thailand could develop its infrastructure and facilitate foreign investors. They also touched on the currency. JFCCT called for a stable exchange rate and easier measures for giving long-term visas to foreign businessmen.

Thailand is still a potential destination for foreign investors around the globe. JFCCT's membership is expected to grow to 30 chambers next year from 28 currently, thanks to more foreign investors coming here.

The private sector needs to know the government's policy for the AEC in the future, how the government will prepare, so they can know what they should do to plan for the next two years to be ready.

Asean is the future for global growth. The population and size of the AEC is about half of China.

"After 2015, we can't look at Thailand as one country but we have look at it as a region because the AEC is a community. A lot of foreigners will come to invest, so we cannot plan for today but we have to plan for the future.

"When foreign investors come to invest they look for midterm and long-term planning, not just come and go. The main reason that foreign investors come to Southeast Asia is because of the AEC. The thing we are more worried about is how we upgrade Thailand.

"After Thailand applied the Bt300 minimum wage policy, Thailand was no longer a cheap labour-intensive country. To become the leader of the AEC, the most important thing is how to upgrade the labour force and skills of the people. The wages in Thailand and other countries are different, so Thailand should be more innovative and creative to remain a part of business."


-- The Nation 2013-11-14

[draftvader]

Better communications? If you were to ask me to describe in 1 word the main failing of Thai businesses it would be "communication".

[klauskunkel]

How about one of this morning's other headlines:

Foreigners pull money out of Thai stocks and bonds
The Nation

by the same news media btw.

[chrisrazz]

The polical turmoil may be the catalyst and then conveniently used for propaganda purposes. There are numerous factors that investors take into account when considering the value of the market. The main being better opportunities elsewhere when balanced with risk. Thailand has been politically stable and an economic highlight when compared to the alternative markets. I think things are levelling out now anyway even without the politics.

[belg]

thailand is good for ...

cheap labor & cheap sex

but neighbours are also getting more action, with even cheaper labour

[phitsanulokjohn]

How about one of this morning's other headlines:

Foreigners pull money out of Thai stocks and bonds

The Nation

by the same news media btw.

2 statements by the same media that appear to be totally at odds with each other.