On 21 June 2018, H.E. General Prayut Chan-o-cha, Prime Minister of the Kingdom of Thailand, met with executives of British companies investing in Thailand: Arup, HSBC, and Prudential. 

 

The Prime Minister informed the British business leaders of the government’s policy to advance the economy under the 20-year national strategy and Thailand 4.0 policy. Thailand is also undertaking the biggest infrastructure development project in a decade, which is the Eastern Economic Corridor (EEC) development. The EEC is an area highly suitable for starting investment, as it can be further connected to the West and expanded to the North and the South of Thailand in the future. The Prime Minister also stressed the policy that such historic economic and infrastructure development is open to foreign and British investors to take part in. 

 

The Prime Minister urged British businesses to consider Thailand’s potential and its geographical advantage in the center of ASEAN and mainland Southeast Asia, which is home to more than 630 million people with high GDP growth at 6.8 per cent. He also invited British investors to take part in the development projects as laid out in the ACMECS Master Plan, adopted in Bangkok during the 8th Ayeyawady- Chao Phraya- Mekong Economic Cooperation Strategy (ACMECS) Summit earlier this month (June 2018).

 

Arup has invested in Thailand in large-scale construction projects and blue line metro rail expansion, and is seeking to further expand its investment in urban infrastructure. The Prime Minister reiterated to the firm the investment opportunity in the EEC, which includes five mega-projects that would cost 20 billion USD. 

 

HSBC started its business in Thailand for more than 130 years in financial services and banking, and is keen to take part in the country’s economic development. The Prime Minister suggested that the bank could utilize the Public Private Partnership (PPP) scheme in the EEC and encouraged HSBC to take part in the establishment of the ACMECS Fund, initiated at the 8th ACMECS Summit.

 

Prudential, a global asset management firm specializing in Financial Technology (Fintech) and Digital Economy, expressed its readiness to work with the Thai government on digital technology development. The Prime Minister viewed that the company’s policy was in line with Thailand’s digital development policy and welcomed the company’s experts to work with related Thai agencies.

 

The Prime Minister also reiterated to the British investors that the Thai government treats foreign investors equally under fair competition, on the basis of good governance and transparency. Thailand is welcoming new players into the country’s economic development. It is therefore a right time for British businesses to invest in Thailand.

 

After the meeting with British companies, the Prime Minister chaired the seminar on “Transforming Thailand” in London, co-organized by the Royal Thai Embassy, London, Board of Investment of Thailand, and Thai-United Kingdom Business Leadership Council (TUBLC). The seminar was attended by more than 250 representatives from British businesses. The Prime Minister took this opportunity to stress Thailand’s potential for foreign investment. He also reiterated that the general elections would be held according to the Roadmap, and that Thailand’s democracy would be made stable and sustainable. The Thai government has formulated the 20-year National Strategy, which is flexible and adjustable to the changing circumstances but, at the same time, ensures the continuity of national development. This will help to facilitate British investors to plan for long-term investment in Thailand.