Deputy PM Somkid to seek investments in 10 future industries

[webfact]

Deputy Prime Minister Somkid Jatusripitak to Seek Investments in 10 Future Industries
BY JACOB MASLOW

BANGKOK: -- Thailand’s Deputy Prime Minister, Somkid Jatusripitak attended the Thailand Economic Outlook 2016 seminar yesterday. As one of the speakers of the seminar, he urged businesses to move forward with their investments in 2016, stating that this will be the “year of investment in Thailand.”

Reports state that investment in the country will increase 8% to 9% in the next year.

Thailand has already been attempting to stimulate the economy by implementing several measures in the past three months. Incentives that allow private companies tailored negotiations with the country have been put in place. Investors, especially big investors, will be able to negotiate cash refunds from the government and lower tax rates in an effort to stimulate investment in the country.

Full story: http://ethailand.com/business-news/deputy-prime-mure-industries/342/

-- eThailand 2015-11-20

[Reigntax]

Desperate times require desperate announcements. No hub of investments?

[elgordo38]

Best to look after and nourish the industries you have now. Being a futuristic thinker runs against the grain here. The way the world looks at present the future looks pretty dim better stick with how to improve the here and now. Big business does not need a lower tax rate and other goodies. The problem is there is a bidding war going on to attract them and they darn well know it. When you fill the pockets of big business with tax breaks the money has to come from somewhere. Actually tax breaks for big business makes more sense than 3 rubber coated submarines guaranteed to float if their engines quit due to a lack of maintenance. From what I understand there is 80,000 tons of rubber in stock lookin for a home. Rubber would also prevent sea barnacles from attaching themselves.

Edited November 20, 2015 by elgordo38

[Srikcir]

"this will be the “year of investment in Thailand.”

Indeed, as the government increases its deficit spending that produces little in GDP growth (0.4% for 2015Q3), reduces taxable income and continues to fall short of tax collections, it is running out of funds to invest in Thailand. So its only hope for economic growth will be the tourism and private investment. But when the ASEAN-5 in whole is expecting GDP growth rates double that of Thailand in 2016, even Thai investors may not be so quick to risk their investments in Thailand.

Investors look to make profit, not propaganda.