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Forum to brief foreigners

Following a delay of several months, up to 300 foreign investors from large companies will finally obtain first-hand information regarding the economic policies of the Srettha Thavisin government to clarify issues related to their future investments, says the Federation of Thai Industries (FTI).

The investors are invited to join a forum in Bangkok hosted by the FTI on Nov 1 to directly ask government representatives about investment promotion as well as hindrances caused by the Thai economy.

“The investors want the FTI to brief them on the government’s investment policies as well as information about the Pheu Thai Party and its allies that formed the coalition government,” said Apichit Prasoprat, vice-chairman of the FTI.

This information is important to them as they draft or revise their investment plans and set their business direction, he said.

Since the new government was established in August, foreign investors have had few chances to meet with the authorities or participate in forums to ask questions or discuss investment issues, said Mr Apichit.

Mr Srettha delivered a policy statement in parliament on Sept 11-12. On Sept 13, his cabinet met and resolved to approve energy price reduction measures, which have kept the domestic diesel price below 30 baht a litre, while the power tariff was reduced to 3.99 baht a kilowatt-hour (unit) from 4.45 baht a unit.

The new power tariff is effective throughout the last four months of the year.

During the parliamentary session, Mr Srettha also promised to work with representatives of employers and employees on the proposal to raise the daily minimum wage to 400 baht.

On the campaign trail, Pheu Thai set an ambitious goal of increasing the daily minimum wage to 600 baht by 2027.

The country’s electric vehicle (EV) market is growing rapidly, with massive investment from Chinese EV manufacturers, yet Mr Srettha said the government needs to help businesses linked to internal combustion engines (ICE) as they played a key role in strengthening the country’s automotive industry.

The premier made the statement following his meeting with the FTI on Oct 6.

Mr Srettha said he believes support for the ICE segment can be carried out in tandem with development of the country’s EV industry.

These issues could be discussed at the forum, which the FTI said will focus on investors from major corporations with annual revenue of 10 billion baht or more, from countries such as China, Taiwan, Japan and the US.

“The FTI is in the process of organising the meeting with investors,” said Mr Apichit.

“We want to help Thailand promote investment.”

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