BOI launches road show to boost investor confidence

Thailand’s Board of Investment (BOI) has launched a road show campaign, starting in Japan, to boost foreign investors’ confidence along with promoting the country’s tourism image.

Industry Minister Pongsawat Svasti spoke at the campaign being launched by BOI under the theme “Unbeatable Thailand, Unparalleled Opportunities”. He said such plan is “highly important to the country after the flood-impacted companies resumed production as a result of Thailand’s measures to alleviate investor problems from the recent flood crisis.”

Pongsawat said the latest strategy reflects the soul of Thais, much as a fighter who passes through many obstacles, despite natural disasters and political conflicts.

The road show in other countries will provide good opportunities for Thailand in the future such as investment in varied industries and types of services and on becoming a production hub to welcome the ASEAN Community which is to take effect in 2015.

Under this BOI campaign, Thai kickboxer Buakaw P. Pramook will represent the country as a symbol of strength and the strong soul of Thais and Thailand as a whole.

Meanwhile, BoI Secretary-General Atchaka Sibunruang said the “Unbeatable Thailand, Unparalleled Opportunities” road show started first in Japan on the occasion of Prime Minister Yingluck Shinawatra’s visit there March 6-10.

BOI presented Japanese investors with a high-impact presentation on Wednesday (March 7) to demonstrate the Thai government’s water management plan to Japanese decision-makers, the BOI actions to support investment in Thailand such as rehabilitation measures and privileges for businesses affected by Thailand’s recent flood.

Over 1,200 Japanese investors joined the event.

Another seminar was organised on the following day in Nagoya, where almost 400 Japanese investors already promised to attend.

On Wednesday, Thai representatives met nine of Japan’s leading auto and spare parts companies, including Toshiba, Honda, Toyota and Nissan.

Apart from Japan, the Thai government and the Ministry of Industry plan to carry continuous road shows to other targeted countries such as China and South Korea. (MCOT)
 

Thai rice exports drop during first two months of 2012

Thai rice shipments in January through Feb 23 were recorded at 465,000 tonnes, a 41 percent drop year-on-year, according to Thai Rice Exporters Association President Korbsuk Iamsuree.

January’s rice exports in all rice categories dropped in quantity year-on-year because buyers shifted to parboiled rice from Pakistan, India and Vietnam, which offer cheaper prices than rice from Thailand.

Thai rice prices, now guaranteed under the government’s rice mortgage scheme, are less competitive, Korbsuk said.

Vietnam’s five percent white rice is the world’s lowest price at US$415 per tonne and its price is likely to fall even lower when more yields from new harvests hit the market.

Meanwhile, the same variety of rice from India and Pakistan costs $445 per tonne while Thai rice is more expensive at $525 per tonne.

However, Korbsuk said Thai rice exports through February were expected to exceed 500,000 tonnes, supported by orders for Jasmine fragrant rice from regular markets in Asia.

Moreover, some parboiled rice buyers shifted their order to Thailand after exports of parboiled rice from India to their customers were delayed.

As Nigeria plans to raise its rice tariff, importers are hastening to import more rice before the tax measure is put in place.

She viewed that Thai rice exports in the first half of this year will slow down owing to impacts from rice exporting policies of its rivals such as India, which have increased its export target from two million tonnes to four million tonnes.

Vietnam is penetrating Thailand’s customary jasmine fragrant rice market and could gain added Asian market share at Thailand’s expense. Vietnam has targeted exporting 400,000 tonnes of parboiled rice and 800,000 tonnes of jasmine fragrant rice annually.

Cambodia, Myanmar, Brazil, Uruguay and Pakistan also plan to expand their rice export markets and to increase export volumes.

Thailand has targeted exporting at least 6.5 million tonnes of rice this year. If there are positive signs, the targeted figure could be revised at the end of the first quarter. (MCOT)
 

February Consumer confidence index rises to five-month high

Thailand’s Consumer Confidence Index rose in February to its highest level in five months following positive public sentiment. However, public consumption is likely to slow until midway into the second quarter of 2012, according to a survey released on Friday.

The survey conducted by the Thai Chamber of Commerce University (UTCC)’s Center for Economic and Business Forecasting showed the confidence index stood at 75.5 points in February, up from 74.2 points in the previous month.

The survey attributed the rise to the Constitution Court’s ruling which cleared the way for the government’s two executive decrees on flood management, paving the way for the government’s post-flood rehabilitation designed to spur the country’s economic growth.

The centre forecast that public consumption is likely to slow until the middle of second quarter due to lingering reaction to last year’s devastating flood as well as soaring costs of living and global economic volatility.

The consumer confidence and consumption index is likely to pick up late in the second quarter if the government speeds up implementation of its economic stimulus policy and other post-flood rehabilitation measures.

In addition, the center noted that the rise of energy prices and costs of living should be on par with public income which has not yet fully recovered in the first half of this year, and that will support Thailand’s growth to reach a target of 5-6 percent. (MCOT)
 

BOI launches road show to boost investor confidence

Thai rice exports drop during first two months of 2012

February Consumer confidence index rises to five-month high