Yingluck says Thailand remains investment haven for foreigners

[webfact]

Yingluck says Thailand remains investment haven for foreigners

BANGKOK: -- Thailand remains a country with strong economic fundamentals and investment haven for foreigners, caretaker Prime Minister Yingluck Shinawatra said today.

She did not appear in public place to perform official work after the People’s Democratic Reform Committee leader Suthep Thaugsuban announced to pursue her to the end following the bloodiest suppression at Pan Fah bridge which left four protesters and one police dead and more than 70 injured on February 18.

Posted on her Facebook page for three consecutive days, Ms Yingluck said Thailand’s economic fundamental remains solid and sound, attributing to World Bank’s ranking of countries on their ease of doing business that placed Thailand on the 18th place.

She also said that the upcoming Asean Economic Community (AEC) will also add attractiveness to investment of the country.

She said a key factor for decision making is confidence and cited promotion privileges sought by foreign investors last year amounted to 5% of GDP, which confirmed that investment confidence remain in satisfactory level.

She said a total of 2,237 projects sought promotions from the Board of Investment last year with investment value over 1,110 billion baht and expected creation of jobs to over 200,000 people. Among the projects seeking promotions, 1,132 projects are foreign direct investment of 524 billion baht.

For this year, she said political turmoil forced difficulties for her caretaker government to perform duties, particularly duties that needed recommendation from the Election Commission.

As the result, it has disrupted approval of promotion by Board of Investment for projects with investment value of almost 500 billion baht.

Source: http://englishnews.thaipbs.or.th/yingluck-says-thailand-remains-investment-haven-foreigners/

-- Thai PBS 2014-02-21

[NongKhaiKid]

Has she spoken to the President of Toyota ( Thailand ) recently ?

If they go just how many will follow suit ?

[Thaddeus]

Only time will tell if she is right or just whistling past the graveyard.

[LuckyLew]

Did she post this on her FB on the way to the airport ... woops .. farmers there ... she might want to look for another escape route

[chainarong]

Gee I have to say this Caretaker Prime Minister , you never give up , they are warming up the Black hawk, the farmers are all returning home again, Suthep is a having a coffee break , when all looks upta creek , you jump up and froth some figures around like the rice scheme scam and we all believe you, every time, err fella's where are U

[Achim]

Difficult to understand figures.

According to Yingluck's statement, last year, during 12 months, they had requests for a value of 1,110 billion Baht at the BOI (524 of which came from foreign sources). So last year they had some 92 billion worth of requests per month.

And then she carries on to insinuate that the fact that problems while the government has been a caretaker government only have caused requests in the range of 500 billion to be put on hold. Since 2014 is only 2 months old, that would mean that there were requests worth 250 billion Baht in each of those two months.

Or does she count December 2013 as well, as the government has been a caretake government in December too - that brings it down to a still phenomenal 166 billion worth in requests per month.

That again would mean that the protests have actually increased the amounts which have been submitted to the BOI ?

The above is not serious of course. I'm just trying to say that I can't help but getting the impression that either the translations we get are not that good, or the statements are not very detailed.

Edited February 21, 2014 by Achim

[Blackmirage2013]

Thailand would be an even better place to invest if Yingluck were on the moon with her brother Thaksin and her dog Chalerm.

[saltandpepper]

She also said that this february will have 31 days. That Thai will be rich within 6 month, but not all, just those who believe in Santa. That TAT will have a breaking news this afternoon, about the record number of tourists arriving at Suvanabhurmi. That her brother is a nice guy, who goes on with his life and does not interfere with politics anymore, and that she never talks to him. That she loves everybody. That Suthep and her should sit down, and have a chat on how to make the country move forward in love and unity. That reconciliation is her ultimate and only one goal in life. That Louis Vuitton and Hermes have really cool purses, and that there will 30% discount next month, so she might take a leave to go and enjoy this fantastic opportunity. That water management policy is going great, and that farmers are really pleased with her ideas. That rice is actually not too good for weight control, and that veggies are more suitable to stay healthy. That ....that ....and that.....

[Katipo]

It's a sad day when the the Prime Minister of a country makes announcements of national importance via Facebook

[Morakot]

[tonytigerbkk]

Is Pu trying to make one last payday.

Seriously, what successful International company is going to put their money in the hands of the Shin clan?

[Scamper]

Why does Yingluck continue to address the nation through facebook ? Who in their right mind is reading these anyway ? Who in their right mind believes them ? Exactly who are her targeted audience ? If anything, it is getting smaller by the day. If ever optics painted a story, this is it. Is this the image Surapong wants to telegraph around the world - a prime minister huddled in the corner of a room with a computer, in an undisclosed safe house, writing about the excitement of investment in Thailand ? No doubt Surapong thinks these facebook postings are a great idea, and Thaksin is just relieved she has something to do while he busily runs the show. In Citizen Kane there is a marvellous running motif of Kane's estranged wife pooling over crossword puzzles, which seem to get larger and larger. In this context, Thaksin is Charles Foster Kane, sitting in his cavernous castle, while Yingluck is dutifully on the floor, pooling over her crossword puzzles.

Edited February 21, 2014 by Scamper

[thesetat2013]

That picture is right off of kittarats facebook page. You can see the FB address on bottom left. The pic could be only something he toyed with on his pc. I dont think im going to believe what this article is saying until i see it from a news source

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

[Morakot]

That picture is right off of kittarats facebook page. You can see the FB address on bottom left.

https://www.facebook.com/Kittirattofficial

[Davidhere]

Considering her lucrative dealings with various family businesses, one would have thought she would say that the British Virgin Islands was an investment haven for foreigners.

[djjamie]

Yet Mr Surapong discouraged protest leader Suthep Thaugsuban from leading protesters to seize business buildings for it would further jeopardise investors’ confidence and foreign investment in Thailand. Many foreign investors have already relocated from Thailand, he warned.

So who is right? yingluck or suropong.

[jaidam]

Being able to own and control 49% of the business you 100% invested in doesn't sound like much of an investment haven to me. Evidence suggests that being a maid or a gardener can be rather lucrative if you have the right boss.

[winstonc]

Being able to own and control 49% of the business you 100% invested in doesn't sound like much of an investment haven to me. Evidence suggests that being a maid or a gardener can be rather lucrative if you have the right boss.

well remembered that young sir...

[HarryNL]

Foreign SME business investors will not like Thai protectionism; bring capital, knowledge and even a market for minority shareholdership, in an economic and political unstable country and restrictions to foreign workforce. For sure Thsiland will loose the competition of the other ASEAN countries that will offer better deals and less corruption.

Sent from my GT-I9505 using Thaivisa Connect Thailand mobile app

Edited February 21, 2014 by HarryNL

[ChrisY1]

That picture is right off of kittarats facebook page. You can see the FB address on bottom left.

https://www.facebook.com/Kittirattofficial

You just gotta laugh at it all........well found.

FB users in Thailand.....I know there's heaps...but really...these guys think everyone in the universe reads their pages.....!

[marcusd]

Only time will tell if she is right or just whistling past the graveyardWell I was just told by the Board of .

Well i was just told by the Board Of Investment that ALL THE RULES ARE NOW CHANGED to the detriment of foreigners and that 3 BOI businesses are LEAVING Chiang mai region PER WEEK since the Bangkok troubles as THE GOVERNMENT is making it harder and harder on foreign owned businesses.

FIRST HAND EXPERIENCE not someone else s words here.

[Johnnie99]

I always thought she lived in Thailand, not cloud cuckoo land ...

[Misterwhisper]

Has she spoken to the President of Toyota ( Thailand ) recently ?

If they go just how many will follow suit ?

And has she spoken to her cousin, FM Surapong Tovichakchaikul? He doesn't seem to share her unbridled enthusiasm. After all, he was quoted as saying:

"Many foreign investors have already relocated from Thailand."

Article here: http://www.thaivisa.com/forum/topic/706047-caretaker-govt-wants-new-polls-on-march-30/

Yet another case of one hand not knowing what the other hand does, just as we have become accustomed to with this entire mess that calls itself a government?

[bigbamboo]

Good for her. Doesn't mean it's true though.

[sam sen]

everyone knows the old dear always talks sense; 'thank you three times'.

[belg]

they will take care it drops to near zero, with that good governement, what else can go bad?

[BlackJack]

[soalbundy]

She lied.....she moved her lips

[empireboy]

It's a sad day when the the Prime Minister of a country makes announcements of national importance via Facebook

Why is it sad? There are so many (young?) Thais who get their news there. It is after all, 2014.

[ratcatcher]

"Amazing Thailand"

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The Kingdom of Thailand, run by a megalomaniac from a penthouse in Dubai using Skype to communicate with his puppet sister performing the role of Prim Minister who posts government updates to the world on her Facebook page.

Truly amazing stuff.