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Thailand Working to “Win over Investors”

The Board of Investment (BOI) chaired by general Prayuth Chan-Ocha has approved 18 projects worth 120bn baht in a move seen as a positive step to further improve the investment climate in Thailand.

The Board of Investment (BOI) chaired by general Prayuth Chan-Ocha has approved 18 projects worth 120bn baht in a move seen as a positive step to further improve the investment climate in Thailand.

 

BANGKOK – While political tension have eased in Bangkok, Thailand’s National Council for Peace and Order (NCPO) is now pushing for key economic measures to allow major projects to move forward and attract more investors for the second half of 2014.

The Board of Investment (BOI) chaired by general Prayuth Chan-Ocha has approved 18 projects worth 120bn baht in a move seen as a positive step to further improve the investment climate in Thailand.

The ambassador was speaking at a gathering at his residence in West Bay area where he also welcomed a Thai delegation attending the 38th session of the World Heritage Committee in Doha.

He admitted that the political standoff between two parties has affected Thailand’s tourism and economic activities, but the lifting of curfew on June 13 has already normalized the situation.

The news division, department of information, reported that general Chan-Ocha wants the BOI to support local and foreign businesses as part of the government’s effort to encourage investments and projects that will benefit Thailand.

At a meeting with the Joint Foreign Chambers of Commerce on June 19, the NCPO has assured the chamber of amending its business laws in a bid to facilitate trade and investment growth.

NCPO and the Bank of Agriculture and Agricultural Cooperatives (BAAC) have also paid rice farmers all its outstanding balance amounting to 90bn baht. The bank also plans to allot 40bn loan for farmers to help them with their rice crop for 2014-2015.

Proposals have been submitted to the NCPO on how to restructure energy prices. It is expected to come up with a solution that will reflect the real cost of energy and give citizens fair and equal access to it.

About handling migrant workers, the NCPO has formed a committee to regulate the hiring of foreign workers “in an orderly manner” to prevent human trafficking and exploitation.

Besides upholding individual rights and freedoms, it also vowed to take appropriate action against people whether a public official or an agent involved in corruption.

“These measures will be practical to the needs of all parties concerned while fully respecting human rights and international labour standards,” the NCPO said, which also focuses on implementing a three-phase roadmap: reconciliation, reforms and elections. From October onwards, an interim government comprised of a Prime Minister and a cabinet will be installed.

Reiterating it is safe to travel to Bangkok and other parts of the country, Laismit noted that the number of visa application in Qatar has been increasing in the past few weeks.

“We urge tourists to visit our beautiful country and there is nothing to worry about,” he said.

The Thai embassy is also expected to stage a number of cultural shows in Doha as part of the Thailand-Qatar cultural co-operation agreement.

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Posted by on Jun 26 2014. Filed under Economy & Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.
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