Thai reform on track, foreign business community told

[webfact]

Reform on track, chamber told
THE NATION



BANGKOK: -- PRIME MINISTER General Prayut Chan-o-cha assured the foreign business community yesterday that the country was moving forward in accordance with the government's social and economic road maps, and that any changes to the law would not negatively affect the investment climate for foreigners.

He gave the assurance during a speech to the "Supporting a Competitive Economy in Thailand" forum, held by the Joint Foreign Chambers of Commerce in Thailand (JFCCT).

The prime minister said he believed the economy could expand 1 per cent year on year in the current quarter, and by more than 3 per cent next year.

His regime has implemented stimulus measures in the past three months to boost the economy, he said.

The government is solving many problems and driving the economy in accordance with its road maps, while many laws will be amended, he told the audience.

He assured them that amendment of the Foreign Business Act would not affect foreign business interests or dampen the investment climate, but would boost investment instead.

Marc Spiegel, vice chairman of the JFCCT, said the prime minister had given a clear direction in regard to the amendment of the Foreign Business Act, as well as the liberalisation of the finance, telecommunications and logistics sectors, which he said was "quite satisfactory".

However, for the service sector, there are no fewer than 20 fields in which foreigners are inhibited from doing business in the Kingdom, he said.

"Thailand will lose opportunity if the country does not speed up the liberalisation of its service sector," Spiegel said.

Oh Lock Soon, chairman of |the Singapore-Thai Chamber of Commerce, said Prayut had clarified the issue.

"However, the prime minister has delivered a clear speech, in which [he stressed that] any change of law or regulation that may impact the way foreigners do business in Thailand will not actually be carried through. Such a commitment will allow foreign business people to be more relaxed and satisfied [about the future]," said Soon.

Source: http://www.nationmultimedia.com/business/Reform-on-track-chamber-told-30249102.html


-- The Nation 2014-12-04

[noitom]

Soon's remarks are totally incomprehensible. he states that any laws impacting the way foreigners do business in Thailand,"will not actually be carried through." This is a prime illustration of Thai newspaper mumbo jumbo trash.

[The stuttering parrot]

Foreigners would be much more relaxed if they done away with the 49/51% ownership!

[Christie Paul]

I love the smell of Napalm in the morning.

[chainarong]

Privately the international business community might be thinking differently , it is inappropriate behaviour to question or to criticise a country where you have invested enormous amounts of cold hard cash and it would not be appreciated by the board, therefore what is said and what is thought are 2 different things .

[mca]

Soon's remarks are totally incomprehensible. he states that any laws impacting the way foreigners do business in Thailand,"will not actually be carried through." This is a prime illustration of Thai newspaper mumbo jumbo trash.

Yeah I had to read that a couple of times debating whether I needed another cup of coffee

[Tatsujin]

Perhaps I've been in Thailand for too long and my comprehension is suffering ...

"the prime minister has delivered a clear speech, in which [he stressed that] any change of law or regulation that may impact the way foreigners do business in Thailand will not actually be carried through"

So, you're going to change the laws/regulations, but then you're not actually going to implement or enforce them? What gobbledygook double-speak is that?

How about changing the laws/regulations to actually encourage investors or entrepreneurs, such as the 49%/51% ownership bullshit, reduce or eliminate the number of unnecessary Thai's required to get a Work Permit, or in a nutshell actually welcome foreigners here, cos if we can create successful profitable businesses, then the Thai economy as a whole benefits from it as well as ourselves as most of that money is being spent within Thailand and not sent back home as the Thai's seem to do when they are working and living overseas.

[baboon]

Soon's remarks are totally incomprehensible. he states that any laws impacting the way foreigners do business in Thailand,"will not actually be carried through." This is a prime illustration of Thai newspaper mumbo jumbo trash.

Yeah I had to read that a couple of times debating whether I needed another cup of coffee

Thank god it isn't just me...

[Benmart]

I love the smell of Napalm in the morning.

I prefer the smell of coffee. Those that have served, know the difference.

[FangFerang]

"However, the prime minister has delivered a clear speech, in which [he stressed that] any change of law or regulation that may impact the way foreigners do business in Thailand will not actually be carried through..."

[tbthailand]

'PM' to foreign investors, please do not abandon Thailand under a cantusethe_wordship for greener pastures cause the traditional elite and generals can't make all their profits off of the Chinese, ... we need your money, too.

Fortunately for the 'PM' the cold hard fact is that capitalism doesn't care what kind of government you have and they don't give a rip about your roadmap. If you can convince them that they'll make a buck, they'll be here with their capital.

As long as western governments don't get crazy with economic sanctions, and that is really unlikely to happen at this time, then you'll be fine.

[rubl]

'PM' to foreign investors, please do not abandon Thailand under a cantusethe_wordship for greener pastures cause the traditional elite and generals can't make all their profits off of the Chinese, ... we need your money, too.

Fortunately for the 'PM' the cold hard fact is that capitalism doesn't care what kind of government you have and they don't give a rip about your roadmap. If you can convince them that they'll make a buck, they'll be here with their capital.

As long as western governments don't get crazy with economic sanctions, and that is really unlikely to happen at this time, then you'll be fine.

Absolutely.

Nothing really changed in the last twenty years, independent of elected or appointed government.

[marinediscoking]

Does he really believe we are this stupid?