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Japanese investors feel more at ease about the political situation in Thailand as there now appears to be a way out of the current crisis, according to Hirai Shinji, governor of Tottori prefecture.

Politics and the economy are two separate issues, he said, adding that Japanese investors have long been invested in Thailand, especially in the auto industry, and have therefore become familiar with the Thai political climate.

Shinji met Industry Minister Prasert Boonchaisuk yesterday in Bangkok to sign a memorandum of understanding (MoU) between the prefecture and the ministry on the expansion of collaboration on technology transfer and joint investment with Thai partners.

Tottori prefecture specialises in the production of auto parts, electronics parts and food. Japanese investors are keen to invest in the food industry in Thailand, which has abundant raw materials.

Shinji added that with the Kingdom at the centre of Asean, Japanese investors wanted to forge deep relations with Thailand and use it as a gateway to other Southeast Asian nations after the full realisation of the Asean Economic Community.

Five business operators from the prefecture accompanied him to Thailand to explore business opportunities.

Industrial Promotion Department director-general Achaka Siboonruang said four Japanese prefectures had already signed trade and investment agreements with the Industry Ministry.

Next to do so is Fukuoka city, which will sign a trade and investment collaboration MoU with the ministry in January. – Watchara Pussayanawin, The Nation

BOT continuity plan in place should violence break out

The Bank of Thailand stands ready with its business continuity plan to deal with the consequences of the current political gathering, although no signs of violence have yet been seen.

The central bank’s business continuity plan will be similar to that used for the 2011 floods, with the payment-system centre ready to move if any violence were to occur.

"The gathering is seen as normal after assessment by the bank. BOT staff continues working as usual," BOT Deputy Ggovernor Tongurai Limpiti said yesterday.

The bank is monitoring the situation closely, she added.

Under the business continuity plan, executives – level-1 staff – are required to continue working as normal. An alternative site is set for use should violence erupt.

If the BOT’s operations are moved, the payment system has to be moved to its alternate centre.

In the case of emergency, the central bank has video-conferencing to communicate with commercial banks, while nine printing houses will ensure its normal reserve of banknotes for three months. – The Nation

NHA land to be leased to private sector to slash debt

Pavena Hongsakul, the minister of social development and human security, plans to lease 2,000 rai (320 hectares) of National Housing Authority land to the private sector in order to slash the NHA’s debt burden of Bt40 billion.

The agency has to find a way to restructure this debt and support its development of housing for the low-income market, she said.

The NHA has some 7,000 rai of undeveloped land, about 2,000 rai of which can be developed into commercial areas.

If this were to be opened up to the private sector on a long-term lease basis for the development of commercial buildings, it could generate sufficient income for the NHA to repay its debt. This would in turn support the authority’s business plan to develop low-income housing, said the minister.

The NHA plans to develop 90,000 units of low-income housing within 10 years, she added. – The Nation