According to the ratings on competitiveness derived by many non-governmental organizations, Thailand's ranking remains unchanged relative to other countries in the region. Nevertheless, due to political and legal problems, Thailand's competitiveness toward foreign direct investment (FDI) has fallen in the view of investors. Therefore, Thailand has to compete harder against other countries to attract FDI.
The deterioration in investor confidence exists not only with new investors, but also existing investors who are familiar with Thailand, e.g., the Japanese, who are expressing concern about the situation in Thailand. KASIKORN RESEARCH CENTER (KResearch) holds the view that the government and all concerned state agencies have to urgently prioritize public relations and communications with foreign investors, international chambers of commerce and international press, simultaneously with efforts to swiftly solve those problems.
The Map Ta Phut problems will need time to be resolved, but other important points such as the public sector assistance will have to be rendered urgently, while public relations efforts toward investors are underway to assure them that the government is paying attention to them and protecting their business investments in Thailand. As for the sensitive political situation, the government will have to prepare contingency plans to cope with untoward incidents such as airport or harbor disruptions.
At present, regional trade liberalization is helping transnational companies invest and set up production bases within ASEAN easily for inter-ASEAN trade. So, Thailand will have to expedite efforts to reinvigorate our investment climate and hold on to our position as a key ASEAN investment destination before investors turn to other countries instead.
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