SATURDAY, February 24, 2024
nationthailand

US ambassador lauds Srettha’s success in boosting US investors’ confidence

US ambassador lauds Srettha’s success in boosting US investors’ confidence

The US ambassador to Thailand has praised Prime Minister Srettha Thavisin for raising confidence among US businesses to invest in the country, a Thai government official said.

Thai Trade Representative Prof Narumon Pinyosinwat disclosed on Saturday that Ambassador Robert F Godec had made his remarks during their meeting at Government House on Friday.

Godec praised PM Srettha’s success in his recent trip to the United States last month when the Thai leader attended the 30th Asia-Pacific Economic Cooperation Summit in San Francisco and met many American business leaders, according to Narumon.

She said that during their meeting with Srettha, US business executives showed interest in investing in Thailand in the areas of digital technology and innovation.

Last week, Narumon added, the prime minister managed to raise confidence among American investors during his meeting with representatives from the US-Asean Business Council (USABC).

The group aims to foster economic growth and trade ties between the US and 10 member countries of the Association of Southeast Asian Nations.

US ambassador lauds Srettha’s success in boosting US investors’ confidence

US ambassador lauds Srettha’s success in boosting US investors’ confidence

Narumon said that Ambassador Godec had underlined Thailand’s significance as a close ally of the US and an attractive destination for American investors.

The US envoy stressed that to create a favourable environment for investment, Thailand should consider the “Five to Thrive” approach proposed by the American Chamber of Commerce in Thailand.

The five ideas for Thailand to increase foreign direct investment are:
- Follow through with the simple and smart licence
- Establish account-based customs processing and prioritise seamless electronic cross-border clearances
- Simplify online Board of Investment applications and expand e-platforms and digital services
- Simplify access to labour and consider adding employee upskilling and education benefits to investment incentives
- Focus on infrastructure development for sustainable growth

Narumon said on Saturday that her meeting with the US ambassador also discussed possible expansion of trade and investment cooperation between the two countries in such areas as green economy, public health, and agriculture.

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