Thai PM encourages South Korea to invest more in Thailand, ASEAN

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BANGKOK,  Dec 11 – Prime Minister Prayut Chan-o-cha invited the South Korean private sector to increase its level of investment in ASEAN, especially in Thailand, as it has adjusted its economic measures to facilitate trade and investment.

In the ASEAN-South Korea CEO Summit 2014 in Busan today, Gen Prayut spoke on the “Global Economic Outlook and the Role of Asia.”

He said Asian countries should quickly strengthen their economies by integrating their strong points.

South Korea is good in education, information technology, green economy, creative and entertainment industries and alternative and renewable energy, he said.

In 2015 the ASEAN countries will combine their markets and production bases which will create new and considerable opportunities for business and investment.

He urged South Korean businesses to make the most use of ASEAN in energy and agricultural fields.

The prime minister said that Thailand is changing its regulations to facilitate business. It is amending all tax-related laws that concern the establishment of regional offices and streamlining procedures to issue work permits for foreigners in order to attract investors.

Gen Prayut invited South Korean businesspeople to invest in small and medium enterprises of Thailand, infrastructure development and digital and green economy to support sustainable development.

He said that Thailand still lacks technologies and knowledge in environmentally friendly businesses, so it is welcoming investment projects which include technology transfers, research and development, and capacity enhancement

The Thai PM said there is considerable room for ASEAN and South Korea as well as for South Korea and Thailand to cooperate.