Thai PM Assures Investors of Open-Door Policy

Prime Minister Thaksin Shinawatra assured investors the world over this morning that Thailand still had an open-door policy towards foreign investment and his government's policies would remain in place if he was removed from politics over the alleged asset concealment, the Thai News Agency (TNA) reported Friday.

The statement was made as part of his speech delivered at the CLSA Investment Forum 2001 in Hong Kong via the video link from his office at the Government House. The seminar is held by the France-based CLSA organization with Jim Walker, a prominent economist, acting as a moderator.

In his 15-minute speech, Thaksin briefed participants on his government policies declared to the Parliament including a revolving fund for each village nationwide, drug suppression drive, establishment of Thai Asset Management Corporation.

The premier gave an assurance that Thailand still adopted an open economy and was willing to welcome foreign investors. His government remained committed to agreements made previously, he said.

Thaksin then gave the participants an opportunity to field questions. Most questions focused on details on ways to solve the country's economic problems.

Asked how he would deal with difficulties in the government spending through the bureaucratic system which is in red tape, he said his government understood and tried to solve the problems by distributing budget to local communities through the village fund to prevent possible corruption and leakage.

The premier said the government was attempting to rehabilitate property and construction business by working out some incentives including tax cuts.

Thaksin pledged he would make an all-out efforts to curb the export slump and ease the continued interest cuts.

In a question over his pending case on asset concealment and falsification being deliberated by the Constitutional Court, he reiterated the problem stems from legal technicalities, not from intention for corruption. He personally believed in his innocence, political reform, and the Constitution Court's justice, he said, adding that investors could rest assured that his government polices would continue even though he was removed from office on the charge because his Thai Rak Thai Party would remain the core of the coalition government due to its majority in the Parliament.






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