THURSDAY, March 28, 2024
nationthailand

Govt will stick to its roadmap, PM assures foreign investors

Govt will stick to its roadmap, PM assures foreign investors

SPEAKING at a Joint Foreign Chambers of Commerce (JFCCT) conference yesterday, Prime Minister Prayut Chan-o-cha assured foreign investors that the government was determined to follow its roadmap leading to a general election.

When the reign of the new monarch begins, the country will follow a consistent economic policy under a 20-year national development plan, while applying economic sufficiency for national development, he said, adding that this was aimed at building foreign investor confidence so that businesses could make plans for the next five to 10 years in Thailand.
The government has attempted to balance all parts of the economy, building in factors that support each other, he said. 
With the country confronted by the middle-income trap, the focus now is on developing the economy for further expansion externally, he added.
Prayut asked foreign investors to help Thailand internally and externally to boost its competitiveness, given the Kingdom’s capability for being a regional centre. 
 Thailand is also ready to join neighbouring countries for regional development through Thailand 4.0, and requires foreign investors to help develop the nation in terms of infrastructure development as well as the digital economy, he explained. 
Meanwhile, the Internet network is targeted to achieve nationwide coverage within the next year, he told the conference.
 The premier also said the government would strive to attract foreign investment in the Eastern Economic Corridor, with a focus on future sectors, such as bio-industry, robots for manufacturing and aviation.

Transport upgrade
The government, moreover, continues to press ahead with development of double-track railways, the Skytrain in Bangkok and suburban areas, airport development, motorways for key-city expansion into neighbouring countries’ key cities, and more facilitation for licensing, skilled-labour creation and community-strengthening with a view to narrowing the social divide, he told foreign investors. 
Others important aspects of the government’s development plans include standardisation of agricultural products, promotion of large farming plots, creation of cities with food innovation, and a legal review of measures every five years with a view to easier investment, the PM said.
The JFCCT for its part urged the government to amend the law on foreigners’ work permits, given the long-standing requirement that business people who travel to Thailand to attend board meetings or carry our financial audits must apply for permits.
It said such a move would facilitate more foreign investment.
 

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