Bangkok Post : PM declares 2009 the Year of Investment

POLITICS

The government has designated 2009 the Year of Investment and plans to set up a "one-start, one-stop service centre" to spur the investment sector. The move is a renewed bid by the government to boost investor confidence, cushion the impact of the global economic crisis and create more jobs.

Abhisit: Listening to investors

Speaking during his weekly TV address, Prime Minister Abhisit Vejjajiva said the government would help promote businesses that could do well in the current economic downturn.

Firms would be offered more incentives to encourage the inflow of foreign investment, particularly in projects involved in the production of raw materials or equipment for state-financed infrastructure projects such as the mass transit system and the development of water resources. Also being fine-tuned is the auto industry promotion plan, as foreign investors have expressed interest in this sector and shown support for the government's economic stimulus measures.

A leading software firm, in cooperation with the Ministry of Labour, has organised workshops for about 100,000 staff, which has been welcomed.

Mr Abhisit said a number of foreign businessmen have told him they wished to invest more in the kingdom so the country's economy could make a rapid recovery.

The government was taking steps to fix the economy but must be careful as it also needed to make sure it does not affect financial discipline, he said.

To facilitate the Year of Investment, the government will set up a "one-start, one-stop" service centre at Government House to free businessmen of red tape and provide smoother contact with state agencies.

It is similar to the one-stop service in the sense that state agencies are grouped in one place to facilitate visitors. But, Mr Abhisit said, he came up with "one-start" as the one-stop service "has been heard so much that we get bored".

He came up with the idea following complaints from investors annoyed by the lengthy procedures they are required to go through when dealing with state agencies, which also can be costly.

Efforts to create a conducive atmosphere for business activities is very important as the economic climate is quite gloomy, Mr Abhisit said.

"Officials from relevant agencies were all there to hear what the government had to say about the short-term economic measures designed to attract investment," he said.

He said the scheme would be overseen by PM's Office Minister Virachai Virameteekul.

The premier has also met Board of Investment executives on a plan to provide investment incentives, including tax cuts for companies introducing new projects, particularly related to state's mass transit system. The plan is continuing and is part of an investment scheme undertaken last year.

On community funding schemes, he said the government would start transferring money to about 8,000 villages in the next two weeks.

Villagers should join in proposing projects in line with His Majesty the King's sufficiency economy, including projects to assist the poor, the farm sector, the conservation of natural resources, environmental protection and energy conservation.