Kittiratt reassures Japan chamber on BOI privileges
Finance Minister Kittiratt Na-Ranong has assured the Japanese Chamber of Commerce (JCC) that guidelines for investment-promotion privileges granted by the Board of Investment will remain unchanged if they are still suitable.
He said he was also confident that the national budget for fiscal 2013 would be in accordance with targets. A committee monitoring public-sector budgets and expenditures has set five conditions to regulate the accumulation of debt obligations extending to the next fiscal year.
Kittiratt, who is also a deputy prime minister, assured the JCC in Bangkok that special investment-promotion privileges would remain in effect according to the original terms and conditions.
Second, any attempt to reduce investment privileges will have to be justified. For example, in the past the BOI supported labour-intensive industries, but such support is not suitable for today’s business environment. Any changes to the privileges will be announced in advance to leave adequate time for adjustment.
The JCC also consulted with Kittiratt about the investment prospects in this region, such as Vietnam, which Japan is very interested in.
Kittiratt said he believed Japanese investments in neighbouring countries would also benefit the Thai economy as they are positive for Southeast Asia.
Kittiratt also mentioned that the draft law granting authority for the Finance Ministry to secure loans to fund investment in transport infrastructure would not be ready in time for inclusion on the agenda when Parliament convenes at the end of this month.
