Thread: Thailand : PM reaffirms govt policy to boost foreign investment

Thai PM reaffirms govt policy to boost foreign investment

BANGKOK, April 28 (TNA) - Thailand's Prime Minister Samak Sundaravej reaffirmed US investors his government had eased investment and business regulations by lifting control on short-term capital inflow to promote more foreign investment in Thailand.

Speaking at a Business Summit to mark the 175th Anniversary of the establishment of Thai - US relations, Mr. Samak reassured American entrepreneurs Thailand’s elected government was committed to moving the country forward.

The premier said the government aimed to improve business conditions and the investment ambience by amending regulations and imposing no further restrictions.

"We are opening up for more foreign investment. There is no capital control and no intention to further restrict foreign ownership of companies," said the premier.

Mr.Samak added his government was aiming for 6.5 per cent economic growth for the year 2008, citing favourable and healthy factors.

US Under secretary of Commerce Christopher A. Padilla expressed delight in the more than century-long relationship between the two nations as well as Thailand’s return to democracy.

“America stands with your freely-elected government. America looks to invigorate and deepen our economic ties. And American business is back- and here to stay," said Mr. Padilla.

However, the Office of the US Trade Representative last Friday placed Thailand and other eight countries on a ``priority watch list'' which could eventually lead to economic sanctions due to concerns over intellectual property rights problems. The US said it wanted more action from Thai authorities to crack down on piracy.

In regards to the issue, Mr. Padilla said he proposed both countries forge a bilateral dialogue on International Property Rights to discuss an action plan which might result in Thailand being removed from the list. (TNA)

enews.mcot.net

Originally Posted by Mid

There is no capital control and no intention to further restrict foreign ownership of companies,"

...Until the next coup...

further restrictions on Foreign ownership would be pointless no ?