PM: Thailand welcomes foreign investment

Saturday, 30 August 2014 By  MCOT

BANGKOK, Aug 28 --  Prime Minister Gen Prayuth Chan-ocha has told a Japanese businessman that Thailand is undergoing its reform process to include foreign investment facilitation, and has been assured that Japanese are ready to invest in the country as long as it is peaceful and stable.

Gen Prayuth, National Council for Peace and Order (NCPO) chief, expressed his views when meeting with a delegation led by Shigenobu Nagamori, chief executive officer and founder of Nidec Corporation, at the Royal Thai Army headquarters today.

After the meeting Gen Prayuth said that the Japanese company expects its investment in Thailand to go smoothly and is ready to support research, development and progress here. He promises to cut red tape and revamp promotional privileges to serve foreign investors.

"I explained that there will be investment outside economic zones such as border and rural areas outside industrial estates. This will be considered to develop technologies and labor and enable people to generate income," Gen Prayuth said.

He promised to improve infrastructure including electricity supplies in areas close to Cambodia's Poi Pet, to promote industrial development there.

Gen Prayuth said Mr Nagamori arrived to discuss trade and investment issues.

Mr Nagamori said more important than investment was the stability of a country and if that country was peaceful and stable, his company would be ready to invest.

Meanwhile, NCPO deputy spokesperson Col Sirichan Ngathong reported on the meeting between PM Prayuth and Mr Nagamori, saying that the Thai premier expressed his sincere gratitude toward the Japanese business sector in maintaining and seeing Thailand as a vital investment location.

Col Sirichan said the premier told the Japanese businessman that he has met with other international business sectors as well, and most, including Japan, were confident in retaining their production bases in Thailand.

Col Sirichan said the NCPO has asked Japan to provide support to Thailand in order to help stimulate the country's economy and tourism.

Besides, the NCPO plans an insurance fund for tourists, which should help further strengthen confidence in the Thai business sector in the near future.

The NCPO also hopes that Thailand and Japan would expand their bilateral trade within the agricultural and industrial sectors even further. He said the council has asked Japan to continue support to Thailand, Col Sirichan said.

Gen Prayuth told the Japanese business representative that the NCPO would improve business regulations to better facilitate investors, Col Siichan said.

Moreover, the prime minister has encouraged more Japanese business owners to establish their headquarters or regional offices in Thailand, while noting that the bilateral relationship between the two sides would be based on equal and mutual benefits.

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