PM pitches economy to lure US investment
PRIME Minister Prayut Chan-o-cha has urged top US businesses to consider investing in Thailand as the country’s ongoing economic reforms will lead to a more sustainable growth path and create new business opportunities for foreign investors.
Speaking at a gala dinner event hosted on Wednesday by the US-Asean Business Council in Washington DC where he attended the 4th Nuclear Security Summit, Prayut said his government had launched several special economic zones to promote the setting up of clusters and super-clusters of future industries such as electric automobiles, smart electronics, robotics, aviation and logistics, and bio-fuels and bio-chemicals.
Second, the government is implementing measures to create a digital economy with a focus on setting up data centres, providing e-governance and e-payment services, and introducing 4G cellular service.
Eight laws will be enacted to provide a legal framework for the digital economy, Prayut said.
Third, the government has stepped up enforcement of laws to protect intellectual property rights while cracking down on cyberspace violations.
In addition, there will be more public campaigns and school textbooks dealing with the issue to increase children’s awareness of the benefits of intellectual property rights protections.
Regarding the connectivity of Asean economies, Prayut said the government has been implementing transport infrastructure schemes to link Thailand with other Asean countries while planning to invest in several double-track railroad, high-speed train and urban mass transit projects domestically.
In addition, Laem Chabang and Phuket seaports will be upgraded to accommodate cruise tourism, while the second-phase expansion of Suvarnabhumi Airport is now under way.
He said the Thai economy has been resilient amid the ongoing global economic challenges due to its large international reserves, low unemployment and skilled workforce. Thai-US bilateral trade amounted to US$39.8 billion (Bt1.4 trillion) in 2015, making the US Thailand’s third-largest trading partner. In terms of foreign direct investment, the US is the second biggest investor in Thailand.
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