Foreign investments to be promoted only when country has stability: PM

supawadee wangsri

 

BANGKOK, 3 September 2016 (NNT) – Prime Minister Gen Prayut Chan-o-cha said that the Board of Investment (BoI) had approved promotional privileges for 34 investment projects. 

In his weekly televised address, the premier said the BoI had approved to grant promotional privileges for medical industry in response to the government's economic policy and measures to promote the Triangle of Stability, Wealth and Sustainability City, he said. 

The government needs to promote more domestic investments while foreign investments in Thailand will be promoted only when the country has stability, he said. 

He also said that in order to help low-income earners earn more, the economy as a whole must be coherent.

 

 

-- nnt 2016-09-03

Cant have a coherent economy when you have an incoherent PM and his pseudo government

Thailand is a foreign dependent country in every way:-

 

Exports to foreign countries  - mostly food produce like rice etc

Tourism - again dependent on foreigners to boost the economy

Foreign investment - crucial for the development of the country

 

I always find it amusing that a country so dependent on foreigners, is yet still willing to bite the hand that feeds them.

But wasn't it only a couple of days ago that there were massive inflows of foreign investment,surely somebody wasn't telling porkies?

AKA: "Let's put a brave face on the fact that foreign investors won't touch us with a barge pole."

Another wonderful right hand left hand situation.

Foreign investment is always very welcome so the country is projected as being The Place including a sparkling new ad on BBC but on the other hand ensuring stability is an excuse for staying in power.

They never really think things through before spouting off do they   ?

I don't put much stock in what the BOI, the BOT, this or that minister saying how

fabulous, robust and fantastic Thailand economy is or going to be,

they all have agendas to paint everything roses and  jobs they want to dearly keep

for years to come, as many of their ' predictions " are nothing  but wishful

thinking and to appease the public.....

1 hour ago, sharecropper said:

AKA: "Let's put a brave face on the fact that foreign investors won't touch us with a barge pole."

Too true.

It is probably also relevant that the Thai smart money investors are looking outside Thailand to plant their money for growth. Vietnam and Myanmar seem to be attracting attention.

 

For example Thailand's Central Group has just purchased BigC stores in Vietnam from the French company Casino.

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

 

Thai developer Hemaraj is building two massive industrial zones in Central Vietnam.

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

 

Also Thailand companies ThaiBev and Singha are vying for a share in Vietnam government run Sabico Brewery (Saigon Beer) which is selling off 53% of it's stake.

 

These are just a few companies which can see better opportunities outside Thailand than within. Thailand is an economically stagnating country as the PM is virtually admitting. He is hoping that domestic investment will fix the problem but domestic investors are seeing it differently.

 

It seems that with Thailand business when it comes to money versus patriotism money will always win. 

 

 

I thought that should be the other way around. Any shrewd investor simply wouldn't invest their money here at the moment.

The normal people here are starting to feel the pinch, especially in BKK. In the retail sector alone i see more and more empty lots here now. These clowns running the show here are so far removed from the average person, its appalling really. 

 

1 hour ago, ezzra said:

I don't put much stock in what the BOI, the BOT, this or that minister saying how

fabulous, robust and fantastic Thailand economy is or going to be,

they all have agendas to paint everything roses and  jobs they want to dearly keep

for years to come, as many of their ' predictions " are nothing  but wishful

thinking and to appease the public.....

As Mark Twain once said. "..it is difficult to make predictions, especially about the future".

26 minutes ago, Brer Fox said:

Too true.

It is probably also relevant that the Thai smart money investors are looking outside Thailand to plant their money for growth. Vietnam and Myanmar seem to be attracting attention.

 

For example Thailand's Central Group has just purchased BigC stores in Vietnam from the French company Casino.

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

 

Thai developer Hemaraj is building two massive industrial zones in Central Vietnam.

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

 

Also Thailand companies ThaiBev and Singha are vying for a share in Vietnam government run Sabico Brewery (Saigon Beer) which is selling off 53% of it's stake.

 

These are just a few companies which can see better opportunities outside Thailand than within. Thailand is an economically stagnating country as the PM is virtually admitting. He is hoping that domestic investment will fix the problem but domestic investors are seeing it differently.

 

It seems that with Thailand business when it comes to money versus patriotism money will always win. 

 

 

 

I think this might also account for the high Baht - the Corporate Elite can go off on a great shopping spree around the world getting a fantastic exchange rate, which is even odder when you consider how their own country's economy is tanking.

Recently i was chatting with a friend, student at Kasert university. We did talk about the thai economy. Actually the situation is very very pretty bad. 

The govt is actually in panic mode, the thai bank are completely dried. There is a huge loan crunch. Many projects have been suspended. Bank can not lend money anymore.

 

Hint: It might get really worst..... let see...

Edited September 4, 20169 yr by Bender

I am sure investment will flow into country and I predict it will happen on the 30th February.

30 minutes ago, sharecropper said:

 

I think this might also account for the high Baht - the Corporate Elite can go off on a great shopping spree around the world getting a fantastic exchange rate, which is even odder when you consider how their own country's economy is tanking.

I don't want this to sound like a mutual admiration exchange but again I agree with you. I suggested this a little time ago in relation to the high baht and was severely poo-pooed. The silvertails and the wealthy within government have their money planted overseas and are enjoying the benefits of an exchange rate which out of kilter with the economy.  These empire/wealth builders have no wish to see the value of their overseas investments wither on a lower baht so a tweak here and a tweak there keeps it within the range they want.

A high baht means dearer and less competitive exports but who gives a stuff about exporters and employment so long as the wealthy hang on to the value of their treasures.

11 minutes ago, Bender said:

Recently i was chatting with a friend, student at Kasert university. We did talk about the thai economy. Actually the situation is very very pretty bad. 

The govt is actually in panic mode, the thai bank are completely dried. There is a huge loan crunch. Many projects have been suspended. Bank can not lend money anymore.

 

Hint: It might get really worst..... let see...

I think your friend is probably right on the money (or the lack thereof) with his/her comments. The 2017 budget when it is released will make interesting reading. Particularly the part about the DEFICIT.

The purchase of imported war games toys like submarines and tanks using borrowed money can have a very serious impact on the budget and the deficit.

They could always print some money but then the baht would drop like a stone which is not what the wealthy with their offshore money want.

In Thailand when it comes to money it is all about the few and not the many.

heard that you have difficulty taking money out of the country

9 minutes ago, AGareth2 said:

heard that you have difficulty taking money out of the country

Well, Plebs and foreigners do....The Elite? Not so much.

 

Ever hear of ANY Thai banking official being prosecuted for helping with money laundering?

23 minutes ago, Brer Fox said:

I think your friend is probably right on the money (or the lack thereof) with his/her comments. The 2017 budget when it is released will make interesting reading. Particularly the part about the DEFICIT.

The purchase of imported war games toys like submarines and tanks using borrowed money can have a very serious impact on the budget and the deficit.

They could always print some money but then the baht would drop like a stone which is not what the wealthy with their offshore money want.

In Thailand when it comes to money it is all about the few and not the many.

Absolutely the purchase of submarines are just a way for the elite to steal money... But in the futur, it will become harder as the economy is slowing down. 

Edited September 4, 20169 yr by Bender

1 hour ago, Bender said:

Absolutely the purchase of submarines are just a way for the elite to steal money... But in the futur, it will become harder as the economy is slowing down. 

 

 

They'll always find a way to be corrupt and take a slice of someone else's cake, whether the economy is sinking or not. Wait and see if I'm right.

 

Chook

3 hours ago, Brer Fox said:

Too true.

It is probably also relevant that the Thai smart money investors are looking outside Thailand to plant their money for growth. Vietnam and Myanmar seem to be attracting attention.

 

For example Thailand's Central Group has just purchased BigC stores in Vietnam from the French company Casino.

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

 

Thai developer Hemaraj is building two massive industrial zones in Central Vietnam.

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

 

Also Thailand companies ThaiBev and Singha are vying for a share in Vietnam government run Sabico Brewery (Saigon Beer) which is selling off 53% of it's stake.

 

These are just a few companies which can see better opportunities outside Thailand than within. Thailand is an economically stagnating country as the PM is virtually admitting. He is hoping that domestic investment will fix the problem but domestic investors are seeing it differently.

 

It seems that with Thailand business when it comes to money versus patriotism money will always win. 

 

 

Yes Dr. Spock's saying "live long and prosper" applies to only a certain class of people here. Making your first million is the hardest. 

Why put off for months when they can start tomorrow with honest disclosures.

3 hours ago, gandalf12 said:

I am sure investment will flow into country and I predict it will happen on the 30th February.

 

Toss up with the twelfth of never.

41 minutes ago, Prbkk said:

 

Toss up with the twelfth of never.

I will give you evens with 30th Feb

He also said"Golf is a good walk,spoiled" that was a load of crap as well.

pointless promoting foreign investment now and have it failing. foreign investors dont like putting money into countries run by non elected governments, especially when they can seize assets and sell them without even having a court case.

i only have about 1 million to get out of thailand and i will have nothing left here. wonder if i can just use my ATM card back home to clean out my thai bank account.

Edited September 4, 20169 yr by williamgeorgeallen

I have no idea what that random conglomerate of words in the artice mean.  

"Coherent"... he is using a new word. That's a good effort and showcases innovation. 

Now he must learn to understand it.

2 minutes ago, klauskunkel said:

"Coherent"... he is using a new word.

 

I don't think he speaks English, that word was probably inserted by a Thai reporter flicking through an English dictionary.

Edited September 4, 20169 yr by MissAndry

What would this pretender know about any of the above. The way his pulling down Thailand and wasting funds, destroying the economy and scared off foreign investors long ago. Your charade and media releases is not fooling anyone.

Foreign investments to be promoted only when country has stability: PM....  So never, then...