One-stop service to help boost foreign flows into EEC

The service will be launched by the Industrial Estate Authority of Thailand, Kanit Sangsubhan, secretary-general of the EEC Office, said yesterday at a forum “Thailand Focus 2017”.
Hundreds of global fund managers attended the two-day forum jointly hosted by the Stock Exchange of Thailand, Phatra Securities and Bank of America Merrill Lynch.
The one-stop service would be located in the Map Ta Phut Industrial Estate in Rayong province, Kanit revealed. 
He acknowledged that complex regulations are a hurdle to securing investments in the EEC while the EEC law has eliminated almost all obstacles.
He said there was no problem in drawing foreign investors, as many Japanese and Chinese businesses were keen.
Piengjai Keawsuwan, vice president of Nissan Motor (Thailand), urged the government to offer more incentives for investments in the manufacture of electric vehicles (EV), in addition to the 5 per cent cut in excise on EVs. Piengjai also wants to see tax incentives for buyers.
She said that other countries are also offering incentives to consumers who buy EV, such as tax deductions, free use of highways and parking in order to encourage the use of vehicles that do not pollute the environment. 
Porametee Vimolsiri, secretary-general of the National Economic and Social Development Board (NESDB), assured investors that the Thai economy is on the road to speedy recovery due to export growth, global economic expansion and recovery of the agricultural sector from a severe drought. 
Gross domestic product is expected to expand 3.7 per cent this year after it grew surprisingly at 3.7 per cent in the second quarter. 
Meanwhile, the Thai central bank said that tensions in the Korean peninsula are making the baht volatile.
Mathee Supapongse, deputy governor of the Bank of Thailand said the BOT is still waiting for information from banks about any speculation on the baht, but added that no capital control was needed.
He was responding to growing concerns among exporters over the appreciation of the baht, which has risen 7.7 per cent against the US dollar this year.
When compared with other countries in the Asian region, the baht had risen only 2.6 per cent, he told investors. 
The Korean won remains the most volatile due to the impact of the North Korean threat. The latest firing of a missile over Japan by North Korea has increased market concerns and raised question over its impact on financial markets and the economy.
The BOT recently asked banks to report about baht transactions deemed as solely speculative activity.
He also said the biggest risks to Thailand’s economy were external factors, especially the tensions in the Korean peninsula, and uncertainty of US policy. He said President Donald Trump might not be able to expand fiscal spending by much as he faces opposition from the US Congress.