Thai PM affirms support for US and ASEAN investors

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Thai PM affirms support for US and ASEAN investors
By Digital Content



BANGKOK, Nov 4 -- Prime Minister Prayut Chan-o-cha promised to facilitate US and ASEAN investor business

He made his promise when meeting with a US-ASEAN Business Council delegation at Government House this morning.

Afterward, Gen Prayut told representatives of 34 companies that the Thai government was ready to support their business and investment and protect the interest of concerned countries fairly. He said his government was amending laws and ministerial regulations to facilitate invesment.

"It is a joy that the business community understand and are willing to increase their investment in Thailand. The government is ready to lay down long-term foundations to create security and confidence on the basis of fair benefit to all. Investment must be transparent and the government has a clear policy to suppress corruption. This will make operators confident that there will not be corruption," Gen Prayut said.

Government spokesman Yongyuth Mayalarp said Gen Prayut told the delegation that he was implementing his roadmap for national reform in 11 areas including: economic reform focusing on infrastructure development, water management, clean energy, financial and property business expansion and streamlined export and import procedures.

US investors are interested in energy, infrastructure, information technology, health tourism business and the digital economy, he said.

Trade and investment have been growing between Thailand the United States. Last year the value of mutual trade reached US$38 billion and the figure this year amounted to US$25 billion as of August. (MCOT online news)


-- TNA 2014-11-04

[Thai at Heart]

Huh?

Aren't they talking about tightening the nominee laws?

[tonbridgebrit]

I think they're trying to say that the big foreign investors are safe. As in their investments are safe. Things like factories, future railway lines, and other big infra-structure projects.

But, for the rest of us, the little investors, foreigners who buy or invest in a bar, restaurant, shop, massage parlour, hair salon, some farmland to grow stuff, etc, well, your investment is just as unsafe as it's always been !!

[NongKhaiKid]

Huh?

Aren't they talking about tightening the nominee laws?

Yes and foreign investors gave a press conference to express worry about the situation which was followed by a second govt statement to say things would not be as bad as feared.

Another well thought out plan, officials talking at cross purposes and the right hand and the left.

[Balance]

I think they're trying to say that the big foreign investors are safe. As in their investments are safe. Things like factories, future railway lines, and other big infra-structure projects.

But, for the rest of us, the little investors, foreigners who buy or invest in a bar, restaurant, shop, massage parlour, hair salon, some farmland to grow stuff, etc, well, your investment is just as unsafe as it's always been !!

No, it is more double speak and is targeted at any size company. The proposed changes in the rules would retain the 51/49 split in absolute ownership, but it is the control of the Boards of Directors and therefore investment and other policies effecting everything from compensation to how profits are treated. If you own a bar with your Thai wife and the two of you get along, you are under the radar.

[monkeycountry]

I think they're trying to say that the big foreign investors are safe. As in their investments are safe. Things like factories, future railway lines, and other big infra-structure projects.

But, for the rest of us, the little investors, foreigners who buy or invest in a bar, restaurant, shop, massage parlour, hair salon, some farmland to grow stuff, etc, well, your investment is just as unsafe as it's always been !!

They are specifically targeting the telecom industri, which basically consists of AIS, DTAC and TRUE on the mobile side. AIS and DTAC are run by Singtel (Singapore) and Telenor (Norway) respectively. I would call them big foreign investors.

[wabothai]

Sounds like the friday evening preaches.

[wabothai]

You have to realize this mr. Prayuth,

When a foreigner first comes to Thailand he is quite impressed, however after a few years he finds out that the Thailand he encountered the first time is not the Thailand he liked so much. So clean your backyard first.

[khunpa]

First we have tightening laws announcements. Then comes various wows and promises. All contratiction and everything changes as the wind blows. One day they are signalling that foreigners are not welcome and the next day, they are saying the entire opposite. And then lets not forget all the warnings too.

Can they really not see, that all they get from this is confusion, which is the only thing Investors do not need to decide on an investment? The fact is that this country is starting to bleed financially and it will continue bleeding until they start thinking before they speak or get some proper advisors and they start listening to them.

The country is not hurting because of political unrest, but because of uncontrolled comments constantly hitting the press. They might call it propaganda and think it is working. But the fact is that they are signalling total incompetence and inability to face the actual facts and situation this country is currently in.

[Alwyn]

"Trade and investment have been growing between Thailand the United States. Last year the value of mutual trade reached US$38 billion and the figure this year amounted to US$25 billion as of August. (MCOT online news)" Hold on a minute, how is that growth? That represents a 40% drop from last year. Well done and hurrah for martial law.

[Robespiere]

I bet everyone in this beautiful, expensive looking room is wondering why they still have the crappy old microphones.