Pattaya Daily News

16 October 2009 :: 16:10:30 pm 3288

Foreign Owners Likely to Revise Investment Policy

Foreign investors may revise their investment policy in Thailand in the aftermath of the Central Administrative Court’s injunction against operations of 76 investment projects in the Mab Ta Put Industrial Estate in the eastern province of Rayong, according to a top industrial estate executive.
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Bangkok, the 16th of December 2009 [TNA]: Mr Vikrom Kromadit, CEO of Amata Corporation Plc, said the court’s decision had taken many groups of investors by surprise. He said investors who had already invested in Mab Ta Put have not panicked because they are aware of what would happen following the court’s decision.

Mr. Vikrom noted, however, that some projects whose operations were suspended hadnever caused pollution, but had been affected by the ruling just the same.

The action caught the foreign investment community by surprise, resulting in their feeling uncertain about the investment policy in Thailand and postponing their further investment here.

Some are poised to revise the investment policy and might shift their investment into other countries such as Vietnam and India.

“Now, Thailand must compete with many other countries to attract investment. So, I want to call on the government to ensure it discusses (such actions) with state agencies concerned prior to making an announcement or initiating any measures,” he said. (TNA)

Reporter : Methawee   Photo : Methawee   Category : Business News

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