Restoring Confidence in Thailand’s Investment and Tourism Climate after the Flood Crisis

(26/11/2011)

Following the flood crisis in Thailand, the Government is starting to restore confidence among foreign investors and tourists, with emphasis on the country’s flood prevention and control process, as well as comprehensive water resource management. Deputy Prime Minister and Commerce Minister Kittiratt Na-Ranong will visit Japan on November 28 to explain the Thai government’s post-flood recovery plan to Japanese investors and business people. He will be accompanied by the Chairman of the Strategic Committee for Reconstruction and Future Development, Dr. Virabongsa Ramangkula. They are also scheduled to meet Japanese Prime Minister Yoshihiko Noda to discuss plans to assist flooded factories and protect them from inundation. Japan has contributed significantly to flood recovery in Thailand. Mr. Kittiratt earlier stated that he would invite the Japan International Cooperation Agency (JICA) to serve as the advisor to Thailand for water management planning on a long-term basis. Dr. Virabongsa said that JICA stood ready to cooperate with Thailand in providing technical assistance, as it had experience in dealing with both flooding and tsunami. The flood crisis in Thailand and the recent destructive tsunami in Japan made both countries realize the urgency and effectiveness of disaster management. In his discussion with the Japan External Trade Organization, Dr. Virabongsa was told that despite this severe flood, Japan would not relocate its production base from Thailand, as Thailand has infrastructure and labor force of good quality. This shows that foreign investors remain confident in the country’s investment situation. Dr. Virabongsa said that he would meet executives of the European Chamber of Commerce on December 7 to explain the Government’s guidelines for tackling the flood problem and various phases of rehabilitation, both short-tem and long-term. Meanwhile, Governor of the Tourism Authority of Thailand (TAT), Suraphon Svetasreni, said that TAT is launching a new campaign, as part of its plan to restore tourist confidence after the flood crisis. He said that the campaign, “Beautiful Thailand,” would provide a good opportunity for the country to revive its tourism during the upcoming Christmas in December and the universal New Year and the Chinese New Year celebrations in January. In the overall picture, the flooding situation is now improving, and life in many flooded areas is returning to normal.