Thailand Positioned as Investment Center: Prime Minister Paetongtarn Shinawatra Speaks to International CEOs
During the esteemed Forbes Global CEO Conference at the Ritz Carlton, Prime Minister Paetongtarn Shinawatra conveyed Thailand's preparedness to act as a crucial investment center, emphasizing the nation's recent political stability and strategic location to global investors.
In a discussion with Moira Forbes, Executive Vice-President of Forbes Media, Ms. Paetongtarn outlined her vision for Thailand, stressing the necessity of attracting foreign investment to strengthen the economy.
Building on the work of her predecessor, Srettha Thavisin, who effectively secured investments from tech giants like Google and Microsoft, the Prime Minister reaffirmed the government's dedication to supporting the private sector.
She declared, "We are ready to aid foreign investors through the Board of Investment, reducing bureaucratic obstacles." She highlighted the importance of Google's investment in job creation and skill enhancement related to artificial intelligence, in line with government efforts to upgrade the education system, particularly focusing on data centers and semiconductors.
Ms. Paetongtarn underscored Thailand's strategic advantages, mentioning its prime location in Southeast Asia, proximity to China, and status as a top exporter of agricultural goods, reinforcing its key role in global food security.
When asked about political stability and its impact on business, the Prime Minister assured, "Political stability has now been achieved in Thailand, making it an ideal time for foreign investment."
Addressing potential future geopolitical changes, such as the potential return of US President-elect Donald Trump, Ms. Paetongtarn recognized potential challenges but confirmed that strategic plans are set to improve trade relations with American companies, seeking to offset any impact on the export market, which accounts for about 10% of Thailand's GDP.
Focusing on food technology and innovation, Thailand aims to further enhance its export quality, guided by a dedicated committee overseeing food security measures. Concluding her address, Prime Minister Paetongtarn expressed confidence in Thailand’s current standing: "With strong technological foundations and a stable government, now is the ideal time for foreign businesses to invest in Thailand."