Thailand steps up charm offensive to attract investments with New Hong Kong cooperation

[webfact]

Thailand Steps Up Charm Offensive To Attract Investments With New Hong Kong Cooperation
Johan Nylander

HONG KONG: -- A year after the military seized power in Thailand, the country’s political situation remains wobbly and the junta is struggling to move the export-dependent economy forward.

But during a speech at the Shangri-La hotel in Hong Kong, Thailand’s deputy prime minister Pridiyathorn Devakula showed no signs of doubt that his country offers lucrative investment opportunities for both local and foreign companies.

“The past has been a bit turbulent for us”, he said. “But if you look at what we have achieved in short time, you can only come to the conclusion that we are going forward”.

During the event, Invest Hong Kong and the Thailand Board of Investment signed a memorandum of understanding, pledging mutual co-operation on investment promotion exchanges and best practices.

Full story: http://www.forbes.com/sites/jnylander/2015/06/24/thailand-steps-up-charm-offensive-to-attract-investments-with-new-hong-kong-cooperation/

-- Forbes 2015-06-25

[Strangebrew]

Has Thailand investment easier? Or is it the same non Thai' s can only control 49% of company.

[Halion]

Lots of charm but little substance.

[Oziex1]

Many reports of MOU's for all sorts of things, any progress after that?

[wabothai]

Sure didn't care about me making investments.

Hogwash and talk with no substance.

Will they ever learn.

[Srikcir]

achieved in short time: No.....

constitution

elections

referendums

freedom of expression

freedom of the news media

economic recovery

political stability

equality for justice

The military has done so much to achieve so little.

[JacChang]

And I'm still enjoying 6-7% dividend returns from the SET.

[ExPratt]

Looks like they are going to need it

Exports down 5.01% in May

http://www.nationmultimedia.com/breakingnews/Exports-down-5-01-in-May-30263173.html

[ExPratt]

Thai May exports fall 5% on-year, imports plunge 20%

BANGKOK: Thai exports dropped more than forecast in May and imports had their biggest tumble in nearly six years, emphasizing how the country's traditional growth engine of trade is not giving the struggling economy any help.

Exports, which equal more than 60 percent of the economy, fell 5.01 percent in May from a year earlier, the Commerce Ministry said on Friday, worse than the 2.9 percent drop seen in a Reuters poll.

Imports collapsed 19.97 percent, their biggest fall on an annual basis since August 2009. The poll projected a 9 percent drop.

Many of Thailand's imported materials are assembled into completed goods and shipped out again, so the bad May import number is another indication of how weak exports are.

Last month, exports to the U.S. edged up 0.4 percent from a year earlier, while those to China rose 3.3 percent. Shipments to Japan were down 4.1 percent and to Europe dropped 13.7 percent.

"The collapse in imports would suggest business still lacks the confidence to import capital goods and raw materials to expand business," said Kobsidthi Silpachai, head of capital markets business research at Kasikornbank.

In a bid to help the economy, Thailand's monetary policy committee in both March and April cut the country's benchmark interest rate by 25 basis points, taking it to 1.50 percent.

Kobsidthi said the May exports "should tell us that monetary policy is no panacea. There is nothing to show from the rate cuts, at least not yet."

The military took power in May 2014 to end political unrest but has been unable to put Southeast Asia's second-largest economy back on a solid growth track. Growth last year was just 0.9 percent.

Last week, the Bank of Thailand (BOT) predicted exports would fall 1.5 percent this year, rather than rise 0.8 percent.

The BOT also cut its economic growth forecast to 3.0 percent, with a downside risk, from 3.8 percent.

Low commodity prices have hurt exports and growth, cutting farmers' purchasing power. Drought is also a threat. Finance Minister Sommai Phasee said on Thursday severe drought could cut economic growth 0.5 percentage point this year.

But he said it's difficult to cut interest rates further as they were "extremely" low already. The central bank next reviews policy on Aug. 5. - Reuters

http://www.thestar.com.my/Business/Business-News/2015/06/26/Thai-May-exports-fall-5pct-on-year/?style=biz