Thai government urged to support private investment overseas

BANGKOK, November 5 (TNA) - The private sector has proposed that the Thai government follow a Japanese model by offering tax privileges to support local business operators to invest overseas. Somhathai Phanichewa, Chief Executive Officer (CEO) of Amata VN Public Company Limited, made the proposal on Wednesday, saying that the Thai government should follow the Japanese model, in which Japanese investors enjoy the Japanese government's support and privileges for their overseas projects. Somhathai also proposed that the government offer interest-free loans, find markets and exempt corporate income tax for business operators who invest in other countries, recommending particularly that such privileges be given to business operators who invest in Cambodia, Laos, Myanmar and Vietnam, where economies are growing fast, labour and land are cheap and there are also promotional privileges. Amata VN runs the Amata City in Bien Hoa City, Vietnam, with its main lessees coming from Japan, Taiwan and South Korea. The Thai company also received permission from the Vietnamese government to build another 8,000-rai industrial estate in Long Tan area and develop commercial buildings, residences and office buildings for rent in the neighboring country. The company will also start to raise funds in the Stock Exchange of Thailand (SET) late this year to support its businesses in Vietnam. (TNA)