PM asks Thai officials to promote Thai businesses in India



NEW DELHI, 17 June 2016 (NNT) – Prime Minister Gen Prayut Chan-ocha has met with officials from the Royal Thai Embassy in India to discuss ways to encourage Thai business operators to invest in the South Asian country.

During the meeting, Gen Prayut enquired about problems and obstacles affecting plans to promote Thai investments and imports into India. Thai Ambassador to India Chalit Manityakul reported on major developments made by the Indian government over the past two years.

Thai officials in New Delhi commented that the government should campaign to promote India among Thai people, so that Thai business operators will shift focus to the world’s second most populous country. They also suggested that the government enhance all types of transport between Thailand and India.

Gen Prayut and his spouse later attended a dinner held by the Thai Ambassador and his spouse at the Leela Palace New Delhi, where the premier and his spouse also are staying.

-- NNT 2016-06-17

So Thai's shouldn't invest in own country instead?

So Thai's shouldn't invest in own country instead?

Of course they should be investing in their own country but as it happens they are not. The smart money in Thailand is choosing to invest in other countries for reasons which really shouldn't need explaining. The Thai Chamber of Commerce has already made a statement that domestic investors are drying up. Foreign investors have long figured out better places to invest.

India looks a good opportunity for Thailand and the PM is quick to recognise that.

Here are just two examples where Thai investors are spending their money. And it isn't in Thailand. The saving grace is that some profits and taxes might come back home.

http://www.thanhniennews.com/business/frances-casino-agrees-to-sell-vietnam-unit-to-thailands-central-61679.html

http://www.thanhniennews.com/business/thai-developer-hemaraj-plans-2-industrial-parks-in-central-vietnam-61859.html

The Thai business model I've observed is appalling. It would best serve Thailand's interest - I believe, but not an authority on economics - if it stopped nepotism, added accountability, had real educational reform etc. Much to do but little interest in doing anything that takes effort or thought. Therefore Thailand will continue it's downward spiral until it hits an unimaginable bottom. Then and most likely only then will change - of any sort - be embraced.

He better start placing equal importance between India and China. India is an emerging superpower and will be the 3rd largest world economy by 2020 while China is walking a economic tightrope and may run into a financial crisis due to the ballooning public debts like Greece. Thailand will do good to sign the free trade agreement with India as soon as possible. Somehow I really have serious doubt whether Prayuth knows anything about world economics.

...considering how Indians are treated here....even 2nd and 3rd generation Indians.......'wow'...

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He better start placing equal importance between India and China. India is an emerging superpower and will be the 3rd largest world economy by 2020 while China is walking a economic tightrope and may run into a financial crisis due to the ballooning public debts like Greece. Thailand will do good to sign the free trade agreement with India as soon as possible. Somehow I really have serious doubt whether Prayuth knows anything about world economics.

You're probably right. I'm not sure if he knows anything about anything.

Hazing new recruits perhaps, employing state-paid soldiers as personal servants and gardeners, maybe.

Or digging latrines.

Win

...considering how Indians are treated here....even 2nd and 3rd generation Indians.......'wow'...

Strongly agreed, the trend of discrimination is never gonna change in this part of the world...

Send the ladyboys there. Big demand.

So Gen Grumpy was told to get more people to buy Indian products before India would ask it's people to buy more Thai products.

Perhaps they just don't understand Thailand?

Winnie

Ok. Then why are all the Indians working here?

The Thai business model I've observed is appalling. It would best serve Thailand's interest - I believe, but not an authority on economics - if it stopped nepotism, added accountability, had real educational reform etc. Much to do but little interest in doing anything that takes effort or thought. Therefore Thailand will continue it's downward spiral until it hits an unimaginable bottom. Then and most likely only then will change - of any sort - be embraced.

He is a newspaper headline that appeared back in January.

Foreign investment in Thailand plunges 78%, Vietnam sets record.

This headline might be more reflective of the political situation rather than Thai business modelling but you make a very good points as to reasons why the Thai economy is in retreat. Sadly there is virtually no possibility that the issues you point out will be addressed. Vested interests will make sure of that.

Often I think the best thing the PM can do for the Thai economy is to leave office as soon as possible.

Unfortunately, there is a veritable hoard of generals waliking in his tiny footsteps.

I suppose India could use a few Thai massage shops.