Foreign investors waiting for new govt to shift more production to Thailand: Srettha

Speaking at a press conference at the Pheu Thai head office, Srettha told a press conference at Pheu Thai headquarters that he held a teleconference with 107 foreign investors on Tuesday during which many asked about the uncertainty about the formation of the next coalition government.

Srettha said the foreign investors told him that they would like to see the new government take office as soon as possible.

He said he told the investors that the Pheu Thai would be among eight partners of the Move Forward-led coalition that is working to form the next government.

Srettha said he told the foreign investors that he would like the next coalition government to be formed soon with Move Forward leader Pita Limjaroenrat as prime minister.

Srettha said the tone of the conversation indicated that the foreign investors want the next government to be set up soon and that their confidence in Thailand will increase after this happens.

When asked if he thought a delay in forming the government would affect investors’ confidence, Srettha replied that foreign investors might become concerned.

“They could become worried, but if the next government is formed fast I believe no investors will move their production bases out of Thailand,” Srettha said.

He is confident that a Pita-led government would encourage both local and international trade and investment because the Move Forward leader visited a number of business associations after the election, he said.

Pita has shown that he has a good understanding of the country’s overall economic situation, as well as small and medium-sized enterprises and specific industries, Srettha said.

“I believe once Pita sets up his government, foreign investors will return to Thailand,” he added.

“We are now in the process of forming a government and there is a high chance that the eight partners will be able to set up the government,” Srettha told reporters.

Some issues may delay its formation, but the Pita-led government will definitely be formed, he said.

“The foreign investors also want the next government to take office soon as many of them want to move their bases here. They are only waiting for an elected government,” Srettha said.

Srettha said he is not worried about the current political situation but simply wants to see the next government take office soon.

He said he would focus on work for Pheu Thai and would visit SMEs in provinces where Pheu Thai won House seats.

He will visit Nan province next week to see how coffee and cocoa plantations could help reduce slash-and-burn farming, which is blamed for PM2.5 air pollution in the North.

Srettha was quick to add that the visit was not intended to increase his popularity to challenge Pita for the post of prime minister. He simply wants to listen to the problems local residents face so that the Pheu Thai can be ready to win the next election in four years, he said.