Investors Remain Confident After the Floods

No foreign investors are planning to move their production bases to other countries, chairman of the strategic committee for rehabilitation and future development Virabongsa Ramangkura said on 30 November.

In an interview with INN news agency, Mr Virabongsa said he had met English and Japanese investors and there was no sign that they would leave Thailand.

The former deputy prime minister was confident that the government is capable of restoring confidence in Thailand for foreign investors.

Mr Virabongsa said he had last week visited England to meet investors and the management of 13 reinsurance firms.

He will also meet Japanese investors and the management of Japan International Cooperation Agency (JICA) to confirm that Thailand will come up with short, middle and long term plans for rebuilding the country after the floodwater has receded and also implement plans for preventing floods in the future.

Mr Virabongsa said he will also discuss ways to help the inundated manufacturers in seven industrial estates restart production lines as soon as possible.

The cost of rehabilitation of the flooded industrial sites is estimated at about 1.2 billion baht and the funds will come from either the foreign reserves or an issuing of government bonds. Details of funding sources will be later discussed, he added.