PM assures foreign investors, promises better flood management
Prime Minister Yingluck Shinawatra has assured foreign investors of the government's commitment to turn crisis into opportunity, saying the US$11 billion investment set aside for water management should increase Thailand's strengths on several fronts.
In her speech to participants to the BOI Fair’s CEO Forum last night at the Government House, she admitted that the flooding was a disastrous incident.
Of about 400 participants at the forum, 70 per cent are foreigners.
“Looking forward, this government is determined to turn this crisis into an opportunity to ensure that our economy is better protected from disasters and also more productive,” she said.
“In doing so, a new approach to water management has been devised with the focus on five areas.
“First, flood walls, barriers and dams will be built and reinforced. Infrastructure will be made more flood-resistant and industrial estates will be better protected. Foreign and local companies can rest assured. Your investments shall be protected.
“Second, floodways and flood diversion channels need to be created for water to flow in and out in an orderly manner. Drainage systems must be improved to prevent water build-up. Flood retention areas will be developed to help manage water outflow and protect important economic areas.
“Third, for effective early warning systems, there is a requirement for an information database. Organisation should be developed to improve early warning for floods and other disasters. At the same time, local contingency planning must be developed to limit risks to communities.
“Fourth, a single command authority on water management will be in place during times of crisis. This will allow for effective planning and timely response. In addition, this will allow the government to provide sufficient assistance to those affected.
“Fifth, Thailand will pursue reforestation and better manage our eco-systems in the recognition that climate change and environmental protection deserve greater attention, nationally and regionally.”
She also assured all that Thailand should post economic growth of 4.5-5.5 per cent this year, as the government is committed to promote domestic demand through investment and government spending. Corporate income taxes will be cut, while labour skills would be improved as Thailand is preparing itself for the ASEAN Community in 2015.
She also promised greater political stability through reconciliation.
“Finally, I would like to reaffirm my government's commitment in working with all of you so that everyone will benefit from Thailand's ever growing opportunities,” she concluded.
