THAILAND FOCUS November 10th, 2014: Prime Minister Prayut Chan-o-cha told visiting business leaders from the United States that he would like to see a 50 percent increase in private investment from U.S. companies, during a meeting at Government House with a delegation from the U.S.-ASEAN Business Council last week. Executives from 34 major U.S. corporations attended the meeting with the Prime Minister, who brought with him Cabinet members representing ministries integral to the economy. Some of the companies participating in the session were Chevron, Microsoft, Pfizer, Apple, Cisco Systems, Seagate, GlaxoSmithKline, Ford, General Motors, Dow Chemicals, Visa, Coca-Cola, Time Warner, General Electric, Guardian Industries. The visit came about after Foreign Minister Tanasak Patimapragorn met with members of the group in New York during the recent United Nations General Assembly session. “The Prime Minister and his ministers impressed the executives with their sincerity in wanting to improve the economic environment and partner with American companies,’’ said Vijavat Isarabhakdi, the Thai ambassador to the United States, who accompanied the visiting delegation to Bangkok. “The ministers gave assurances that they are committed to advancing the companies’ business interests and promoting free trade.” For the Americans’ part, they reiterated that they are in Thailand to stay, and have confidence in the Thai economy, Vijavat said. Issues of concern, such as customs and taxation policies, were raised in a friendly atmosphere. The Prime Minister urged the executives to contact his ministers directly should any issues arise. Vijavat said that, from his discussions with the executives, he expects to see investment start flowing once again. “I’m hopeful because many companies said they were planning to increase investment,” but had been waiting for the political turmoil to subside. “Now that there is increased stability and more predictability, I would think investments will increase.” The delegation’s visit was one of many indicators that U.S.-Thai relations are on a much stronger footing than the impression created by some media reports, Vijavat said. The U.S. has called for a rapid resumption of electoral democracy in Thailand, and cut approximately US$4.7 million in military assistance, which is required under U.S. law when a military intervenes in politics. Some Thais, however, have mistakenly interpreted those actions as a downgrade in relations or a sign of serious tensions. Vijavat stressed that simply is not the case. thaiembdc.org/dcdp/?q=node/768
Posted on: Mon, 10 Nov 2014 23:44:48 +0000
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