BOI believes foreign investors still possess strong interests in investing in Thailand

Secretary-general of the Board of Investment (BOI), Sathit Charnchaokul (สาธิต ชาญเชาว์กุล) is confident that foreign investors possess strong interest in investing in Thailand as they have clearer view of political situation in the country. Whereas, Office of Industrial Economics believes GDP of Thailand will grow by 4-5 percent as expected.

Mr. Sathit said recent seizure of the caretaker government by the Council of Democratic Reform under the Constitutional Monarchy (CDRM) which proceeded peacefully has given a major cnofidence boost in investors. He said they now have clearer picture of the investment climate.

He stated that BOI will speed up in providing adequate details for investors. He said the investors who already have invested in the country will not change their decision or withdraw their capital from Thailand as current situation has eased political turmoil.

In the meantime, Director of the Office of Industrial Economics Atchaka Brimble (อรรชกา บริมเบิล) disclosed that industrial index is constantly continuing and expected that GDP for this year will expand by 4-5 percent as expected.

She indicated that automotive and electronics industries have high export rates and the fuel prices have declined.

Source: Thai National News Bureau Public Relations Department - 26 September 2006

He said they now have clearer picture of the investment climate.

There certainly is a pretty clear picture.

Here's a resume of what we already had last month:

Thailand is a country where businesses run like treacle because of ingrown bureaucracy, corruption, and where individual initiative is a cardinal sin.

Where officialdom regularly breaks or changes agreements and policies.

Where the worldwide internet fibre optic network was refused (so I was told) with the result high speed is slow speed, breakdowns and slowdowns are an everyday occurrence, with the result companies like Seagate disappeared like rats up a drainpipe.

Now we can add:

Where governments still get changed by force regularly.

Where corruption investigations may have big impacts on large running businesses.

All things considered I love the place. But not for it's investment merits.

Edited September 26, 200619 yr by sleepyjohn