ID :
348690
Fri, 11/21/2014 - 10:07
Auther :

Thailand eyes to become regional trading centre

BANGKOK, November 21 (TNA) - The Thai government is amending laws to attract more foreign business operators to set up their regional operating headquarters, paving the way for the Thai Kingdom to become a regional trading centre in the future. Thai Deputy Prime Minister MR Pridiyathorn Devakula told the government's policy at a seminar held in Bangkok on Friday, organised to mark the 17th anniversary of the establishment of the Central Intellectual Property and International Trade Court. MR Pridiyathorn said the amendment of the laws should be completed and forwarded to the Thai Cabinet for its consideration by early next year. MR Pridiyathorn foresaw that the revised laws, if promulgated, should help boost Thailand’s gross domestic product (GDP) to 5–6 per cent annually over the next two years and would not cause a bubble economy in the country. The deputy prime minister pointed out that the amended laws would also help boost Thailand’s economic role with neighbouring countries, while also encouraging Thai business operators to invest overseas. Besides, there is a need for Thailand to improve the tax system to facilitate foreign businesses' establishment of their regional operating headquarters in the country, which will also promote and support Thai nationals to invest in transnational businesses, with an agency to be set up to also facilitate Thai investment overseas, as Thailand's private-oriented investment so far has already saturated due to shortages of labour and spaces for investment, resulting in a slowdown in domestic investment and in the national economic growth at 3–4 per cent on aveage only since 2010. According to the deputy prime minister, the Thai government will also invest in major infrastructure projects to prepare the Kingdom to become a “digital economy”, namely establishing massive broadband to assist growing digital businesses. (TNA)

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