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Thai benefits seen in TPP membership

Nov 24. 2015
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By Petchanet Pratruangkrai

The

The American business community in Thailand foresees the Kingdom benefiting from the Trans-Pacific Partnership (TPP) agreement once it is able to join the pact, while more American investors will continue to invest and expand their businesses here, the he

 

AMCHAM president Darren Buckley said American businesses were glad to hear that Thailand was interested in joining the TPP, as it would create benefits for the country’s growth.

"The TPP is undergoing the ratification process. Thailand still has time to evaluate the pact while all TPP countries wait to sign it. I believe the TPP will benefit Thailand, and it will create equality and balanced benefit for all involved," he said.

Buckley said that with the Thai government’s many measures to drive the country’s growth and attract more investment under short-term economic stimulus packages, the stamping out of corruption, the moves to bring peace and political stability, and a return to democracy in the future, American investors remained confident about keeping their investment and expanding businesses here.

Thailand will continue to be an attractive destination in the long run, with many attempts to promote and facilitate more trade and investment, he added.

Besides joining the TPP in the future, Amcham also wants to see Thailand amend the Foreign Business Act, liberalising it in order to promote the growth of investment in the service sector, as such a move would lead to more investment from overseas, especially from the US, he said. Asked whether American investors were interested in the 10 special economic zones in Thailand, Buckley said they were interested in the project but needed to hear more information and details of privileges that the government would offer to investors. Meanwhile, the government has moved in the right direction in promoting super-clusters and-high technology investment, as not only large American firms are interested in investing in such businesses, but also small and medium-sized US enterprises, he pointed out.

AMCHAM yesterday honoured its members’ best corporate social responsibility programmes at a ceremony presided over by the US ambassador to Thailand, Glyn Davies.

The ninth annual "AMCHAM CSR Excellence (ACE) Awards" recognised 62 companies for their exemplary CSR programmes and their dedication to improving their communities.

Davies congratulated the honorees and applauded their innovative programmes aimed at bolstering the communities in which they operate.

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