Keynote Address by H.E. Mr. Abhisit Vejjajiva,
Prime Minister of the Kingdom of Thailand,
at the Inauguration Ceremony of the One Start One Stop Investment Centre (OSOS),
23 November 2009

Excellencies,
Distinguished leaders of the business and investment community,
Ladies and Gentlemen,

I am most delighted to be here this morning to inaugurate the One Start One Stop Investment Center (OSOS). As I look around the room, I am also pleased with the impressive turnout. This indeed indicates that, despite the current global financial crisis, the international investment community remains interested in the opportunities available in Thailand.

For more than three decades, the principles of Thailand’s investment policy have remained unchanged - we are committed to the private sector as the engine of growth, while government plays a supporting role. Despite the impact of the global financial crisis, or the domestic political problems, Thailand remains open to trade and investment, maintaining an outward-looking and export-oriented approach. This has always been the essence of our economic policy. You can trust the original reasons for which you decided to invest in Thailand are still there -- because they have not changed.

At the G-20, the ASEAN and the APEC summits this year, world leaders strongly emphasized the dangers of trade protectionism and voiced their support to reviving global trade and investment to advance sustainable growth. With a firm belief that the private sector is the real engine of growth for the economy, Thailand, like other countries, is committed to create an enabling environment for all investors, foreign and domestic alike, to stimulate the development of the country.

The establishment of the OSOS is a crucial part of that strategy. Indeed, it highlights the way we are working with the private sector to improve Thailand’s investment climate. The idea for the OSOS emerged from a series of meetings with the investment community earlier this year. At several of these interactive sessions, investors reaffirmed their satisfaction with the services of the Board of Investment. They wondered if it would be possible to have a centre that would further enhance investment facilitation given that there is a wide range of agencies involved in the investment process.

As you would know, we have already been ranked number 12 by the World Bank’s 2010 Ease of Doing Business Report. But still, we aim to do even better every year by focusing on accountability, transparency, and predictability. We have set investment facilitation as one of the priority tasks for our administration, and the establishment of the OSOS is a part of that effort. So here we are, some six months later, opening the OSOS. As mentioned by Minister Chanchai earlier, there are as many as 21 agencies from 10 ministries represented at the OSOS. That speaks volumes about the support and cooperation this project has received from the Government.

The center will offer advice and information throughout all stages of the investment cycle. Staff will be available for consultations with potential investors and will subsequently work with investors on registration processes. Investors can also file applications for a wide range of licenses and permits here. At the outset, we will offer services in the three main languages of business in Thailand - English, Japanese, and Chinese - and would look to expand our language support in the future, as needed.

I am also pleased to note that the existing One-Stop Service Center for Visas and Work Permits will also move into this building starting on January 4, 2010. In the future, this center for visas and work permits will expand to provide service for widertypes and sizes of non-BOI promoted companies. I have personally discussed this issue and will be following up on this expansion.

Ladies and Gentlemen,

As ASEAN Chair, Thailand has vigorously pursued regional integration. We spearheaded the effort to establish an ASEAN Economic Community (AEC) by 2015 with a single market and production base, as a highly competitive economic region of equitable economic development and fully integrated into the global economy. We certainly believe in "strength in unity" and we have no doubt that the complementary nature of our resources will serve as a stimulus for the region to achieve economic dynamism, sustained prosperity, inclusive growth and integrated development.

In Thailand, we have made great strides in our domestic economy. The economic stimulus packages put in place introduced a rebound in consumer confidence, as well as massive investments in our social and economic infrastructure. At the same time, the global recession appears to be waning and there has emerged a renewed demand for Thai exports. While there is still plenty of work left to be done, it is clear that the economy is on the road to recovery and back on track for renewed growth. With the government continuing to play a supporting role for investment, it is clear that Thailand is back in business.

Ladies and Gentlemen,

I would like to reassure you that my government is committed to enabling businesses, both foreign and Thai, to operate in Thailand in the simplest and most convenient manner. The One Start One Stop Investment Center is an important first step in dealing with these issues. While it may not immediately solve all issues raised by investors, it should be viewed as the beginning stage in a process which the government seeks to efficiently improve the provision of services to investors. In the months ahead, we expect to take additional actions that will address the concerns of the investment community and further enhance the investment climate in Thailand.

Let me thank the Board of Investment and the Ministry of Industry for their efforts in bringing the OSOS to fruition in such a short period of time. I am confident that the centre will successfully facilitate investment of both new and existing businesses.

Thank you for your kind attention this morning. Sawasdee krub.

Government Spokesman Bureau
Foreign Relations Division