|
|
|
|
 |
|
| Thailand Losing Steam
|
| The government has claimed Prime Minister Yingluck Shinawatra was able to successfully restore confidence in Thailand by outlining the country's flood prevention and economic plans at the 42nd World Economic Forum in Davos, Switzerland.
However in reality, almost no one paid attention to Yingluck. Instead, all eyes were on the Burmese government envoy led by Industry Minister of Myanmar U Soe Thein and Rail Transport Deputy Minister Thura U Thaung Lwin.
Even though it was Myanmar's first time participating in the forum, it garnered much interest from international investors who seem to start overlooking Thailand. Myanmar also made a big splash by announcing that it has a plan to offer up to eight years tax exemptions to attract foreign investments and attempt to drive its gross domestic growth to the target of six percent.
Moreover, Myanmar is also looking to establish additional special economic zones, other than in Tavoy, in areas situated around Rangoon in order to accommodate companies from China, Japan, South Korea, Thailand and other countries. As for its unstable kyat currency, Myanmar will consult with the International Monetary Fund on how to set up a better exchange rate mechanism and other monetary policies. Most importantly, it is planning to make its central bank an independent entity from separating its from the Finance Ministry.
Despite the fact that Myanmar still considered by many to be a relatively high risk country, a large number of foreign investors are willing to take their chance, given the potentially lucrative upsides. As Myanmar is becoming more attractive destination, Thailand's appeal to investors is diminishing. If the Thai government fail to come up with more incentives including bringing more political stability and transparent business-doing practices, Thailand may soon find itself being passed over by international investors.
Taken from Editorial Section, Kom Chad Leuk Newspaper, Page 4, February 3, 2012
Translated and Rewritten by Kongkrai Maksrivorawan
Please note that the views expressed in our "Analysis" segment are translated from local newspaper articles and do not reflect the views of the Thai-ASEAN News Network.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Analysis |
|
|
| Thailand Losing Steam |
| The government has claimed Prime Minister Yingluck Shinawatra was able to successfully restore confidence in Thailand by outlining the country's flood prevention and economic plans at the 42nd World Economic Forum in Davos, Switzerland.
However in reality, almost no one paid attention to Yingluck. Instead, all eyes were on the Burmese government envoy led by Industry Minister of Myanmar U Soe Thein and Rail Transport Deputy Minister Thura U Thaung Lwin.
Even though it was Myanmar's first time participating in the forum, it garnered much interest from international investors who seem to start overlooking Thailand. Myanmar also made a big splash by announcing that it has a plan to offer up to eight years tax exemptions to attract foreign investments and attempt to drive its gross domestic growth to the target of six percent.
Moreover, Myanmar is also looking to establish additional special economic zones, other than in Tavoy, in areas situated around Rangoon in order to accommodate companies from China, Japan, South Korea, Thailand and other countries. As for its unstable kyat currency, Myanmar will consult with the International Monetary Fund on how to set up a better exchange rate mechanism and other monetary policies. Most importantly, it is planning to make its central bank an independent entity from separating its from the Finance Ministry.
Despite the fact that Myanmar still considered by many to be a relatively high risk country, a large number of foreign investors are willing to take their chance, given the potentially lucrative upsides. As Myanmar is becoming more attractive destination, Thailand's appeal to investors is diminishing. If the Thai government fail to come up with more incentives including bringing more political stability and transparent business-doing practices, Thailand may soon find itself being passed over by international investors.
Taken from Editorial Section, Kom Chad Leuk Newspaper, Page 4, February 3, 2012
Translated and Rewritten by Kongkrai Maksrivorawan
Please note that the views expressed in our "Analysis" segment are translated from local newspaper articles and do not reflect the views of the Thai-ASEAN News Network.
|
|
|
| |
|
|
|
|
|
|
