Thailand will become a better place to do business after coup, Thai premier says

HANOI, Vietnam: -- Thai interim Prime Minister Surayud Chulanont on Friday assured foreign investors that the country would emerge as a better place to do business after recent political turmoil, with anticipated reforms to lead to more transparency and efficient governance.

Speaking at a regional business conference here, he defended the Sept. 19 bloodless military coup that had ousted former premier Thaksin Shinawatra as a "uniquely Thai response to the need for urgent political reforms" amid rampant corruption and cronyism, abuse of power, growing poverty and racial polarization.

"We have given ourselves a breathing space for genuine democratic reform, a chance to strengthen weakened democratic institutions, restore eroded checks and balances, and to ensure that transparency and good governance are given more than lip service," said Surayud, a former army commander who was appointed Oct. 1 to lead an interim government.

"So far, we have gotten off to a running start," he said.

He said a new council would be established soon to draft a new constitution, which would be ratified by the people through national referendum, and leading to general elections by the end of 2007.

Over the next year, Surayud said the interim government would seek to advance political reforms to lay the groundwork for an accountable and transparent government.

He said they will also strive to restore national unity with Thai Muslims in the south, tackle income inequality and strengthen the rule of law to curb corruption.

Surayud, who is in Hanoi to attend the annual leaders' summit of the Asia-Pacific Economic Cooperation forum this weekend, said Thailand's economic fundamentals remained strong with foreign investment on the rise and the stock market on an upward trend over the past six weeks.

"Our exports are also doing well, up over 15 percent on year. If anything, it is our strong baht that we are worried about," he said.

The U.S. dollar, recently trading at 36.64 baht, has lost more than 10 percent against the Thai currency this year.

"There will be no change in our investment policy. Foreign investment will continue to enjoy full protection," he said. "The reform of current regulations on trade and enhancement of transparency in government contracts will ensure greater predictability and good governance."

Thailand will push ahead with development of large-scale infrastructure projects and recently announced plans for open bidding on mass transportation routes by March 2007, he said.

"When you combine Thailand's strong fundamentals with the structural benefits accruing from the interim government's actions, Thailand will offer greater transparency, more efficient governance, greater socio-economic and political stability and greater sustainability," Surayud added.

"In other words, four our partners in APEC and around the world, it will be a better place to do business in and to do business with," he said.

--AP 2006-11-18

Over the next year, Surayud said the interim government would seek to advance political reforms to lay the groundwork for an accountable and transparent government.

"There will be no change in our investment policy. Foreign investment will continue to enjoy full protection," he said. "The reform of current regulations on trade and enhancement of transparency in government contracts will ensure greater predictability and good governance."

--AP 2006-11-18

Edited November 17, 200619 yr by Robski

"When you combine Thailand's strong fundamentals with the structural benefits accruing from the interim government's actions, Thailand will offer greater transparency, more efficient governance, greater socio-economic and political stability and greater sustainability," Surayud added.

Also Thailand's strong embracement of the internation language of business, Thai, the sky is the limit.

Thailand will become a better place to do business after coup, Thai premier says

HANOI, Vietnam: -- Thai interim Prime Minister Surayud Chulanont on Friday assured foreign investors.................

"There will be no change in our investment policy. Foreign investment will continue to enjoy full protection," he said. "The reform of current regulations on trade and enhancement of transparency in government contracts will ensure greater predictability and good governance."

"When you combine Thailand's strong fundamentals with the structural benefits accruing from the interim government's actions, Thailand will offer greater transparency, more efficient governance, greater socio-economic and political stability and greater sustainability," Surayud added.

--AP 2006-11-18

LaoPo

Wouldn't it be nice if the papers knew that Thailand has a Prime Minister and does NOT and never has had a Premier?

They are not the same. For instance the Australian state of Victoria has a Premier but the whole country has a Primie Minister.

Thailand Will Become A Better Place To Do Business After Coup

Yet we can still only own 49% of any business...!!!

Wake up Thailand!

I feel a lot better now.