PM urges SME operators to make new investments

 

 

BANGKOK: -- Prime Minister Prayut Chan-ocha has called on operators of small and medium-sized enterprises to start their own investments instead of just waiting for foreign investments.

 

In order to make the country stronger economically, he said that Thailand cannot just wait for foreign investments to pour into the country but the Thai private sector, SMEs in particular, must develop themselves and make their own investments.

 

However, the prime minister admitted that he felt disappointed that many SME operators were reluctant to make new investments. 

 

Full story: http://englishnews.thaipbs.or.th/pm-urges-sme-operators-make-new-investments/

 

-- © Copyright Thai PBS 2016-12-14

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Maybe they should try to figure out why the foreigners don't invest here anymore instead?

Oh, I get it. The government is not responsible for the poor economy. It's the fault of (less well-off) Thai business people for not investing money they don't have.

 

Can't you all solve your problems yourselves? We're preoccupied with other concerns, like the bidding for whose turn is next at the ministerial trough.

2 hours ago, HiSoLowSoNoSo said:

Maybe they should try to figure out why the foreigners don't invest here anymore instead?

It is because they were run off by the man himself, the good general.  Immigration became overly ridged.  They enforced their draconian labor laws which do not exist in most of parts of Asia. And the god like powers of article 44 made everyone think twice about investing in Thailand.  There are better places to spend your money than in Thailand.  The question is what sort of capital do SME's have to invest ?

Capital investment, in my experience as a retired business owner, usually incurs a taking on of debt.

Whether the purpose of this debt is for new machinery, or a buffalo, the debt has to be repaid.

Maybe, - just maybe, the Thais are starting to wake up to the already over borrowed Vs asset problem that exists across many sectors of society.

From the military economic handbook. No investment so it is your fault. 

Is it just me or is it weird when governments have to tell businesses to spend money on investment.  Isnt that something a good business just does if they see it as an opportunity?  

I'm ready to invest a couple million Baht and generate business, but the bank is being difficult with a loan.

 

Maybe instead of leaning on SMEs he could have a quiet word with the banks in Thailand and the things they're (not) doing.

Edited December 14, 20169 yr by WinnieTheKhwai

9 hours ago, webfact said:

many SME operators were reluctant to make new investments. 

Because they know what the foreign investors know?

The Thai economy is shrinking, the political climate is uncertain, Thailand is becoming noncompetitive even within ASEAN, and the military government has made little improvement in growth despite billions of investment.

For now it's survive with what business operators have and wait for better opporunities. For some, they are moving businesses to other ASEAN countries.

 

We setup and invested in a good startup company here 3 years ago and planned to grow it to 40-50 local employees within the first couple of years.

 

After 1 year of business (with good profit and great growth potential) and everything done by the book, we decided to move our company out of Thailand. Why?.... Well, we got tired of being harassed by the government officials, whos only aim was to get personal payments from us. Add to that incompetent lawyers, accountants and employees with low skills. (although educated). Today our business is successful and growing well in a naboring country, who welcomed our investment.

 

Would personally never invest in Thailand again, so I fully understand the Thai business owners who also will not.

 

 

 

 

 

Start their own investments - with what?

After the three million baht for a visa requirement kicks in there will many small Farang owned businesses that Thais can pick up on the cheap.