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Home >> Business
UPDATED: 17:22, July 19, 2006
Thai people urged to help restore foreign investors' confidence
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Thailand's Deputy Prime Minister and Commerce Minister Somkid Jatusripitak Wednesday called on all Thai people to help restore foreign investors' confidence in Thai economy, which is hurt over the country's prolonged political stalemate.

Speaking at a seminar, he said he had met with the chairman of Japan External Trade Organization recently, who told him that Japan was concerned of the impact on investment from prolonged political uncertainties in Thailand.

Somkid said he assured the JETRO chairman that the political woes are an internal affair that Thai people could settle soon.

"In the past 5-6 years, Thailand was ranked before Singapore in terms of confidence among Japanese investors. But of late, the country has been notched down and ranked behind Malaysia and many other countries in Asia," Somkid said.

"So, I want Thai people to be united to help restore confidence and rebuild the economy in the country. Otherwise, the investor confidence in the country may be affected in the long run."

He added the Board of Investment (BoI) reported to him that no foreign investors in Thailand planned to shift their production base into other countries, but conceded some had delayed new investment in the country.

The deputy prime minister said he had urged BoI to put on road shows to attract foreign investors, particularly small- and medium- sized entrepreneurs to invest in Thailand and convey to them a proper understanding of Thailand's economic and political situation to boost their confidence.

Caretaker Prime Minister Thaksin Shinawatra also told ministers at a cabinet meeting on Tuesday to instruct state agencies to step up efforts to restore investor confidence as there is a sign that some investors might shift their investment to neighboring countries if the forming of a new government is in further delay, government spokesman Surapong Suebwonglee said.

The government was concerned when an Asia-wide survey conducted by MasterCard Co showed that Thailand's consumer confidence index has dropped to 28.6 points from 100 due to the country's prolonged political turmoil.

Source: Xinhua


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