Supajee: Foreign Access Rules Adjusted for 'High-Quality Investment'

DEPUTY PRIME MINISTER-cum-Commerce Minister Supajee Suthumpun today (Sep. 11) said allegations by former leader of People’s Alliance for Democracy, aka “Yellow Shirts”, Sondhi Limthongkul of opening the door too wide for foreign entities, likening it to selling off economic sovereignty, sprang from regulatory adjustment undertaken to halt overlap of procedures and help attract high-quality investment. Limthongkul’s criticism was based on concerns that Thailand was excessively opening its economic doors to foreign capital. However, Deputy Prime Minister Suthumpun emphasized that these changes are a strategic step aimed at strengthening, rather than weakening, the economy. Specifically, she stated the goal is to reduce bureaucratic hurdles in the investment process and create a more efficient and transparent environment, thereby enhancing Thailand's competitiveness in the international market. This statement was made amidst discussions regarding the role of foreign investment in Thailand and its impact on the national economy. The government believes that Foreign Direct Investment (FDI) is essential for technology transfer, job creation, and fostering economic growth. However, it also recognizes the importance of balancing this with the protection of domestic industries and ensuring that strategic national assets are not unfairly controlled. Deputy Prime Minister Suthumpun underscored that the current regulatory adjustments focus not just on attracting foreign capital, but on drawing in high-quality investments that can contribute to Thailand's sustainable economic growth and development. This suggests a policy that looks beyond short-term gains towards long-term national interests. The post Supajee pins Sondhi’s allegations of excessive foreign access on regulatory adjustment appeared first on Thai Newsroom.