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Published on March 27, 2008

Lord Digby Jones, the British trade and investment minister, said yesterday that with its location in Asia - the emerging region in the 21st century - Thailand could gain technology transfers and expertise from the UK.

So could Vietnam, Singa-pore, China and Malaysia.

The UK has already invested US$5 billion (Bt157.5 billion) in the five countries, including Thailand, he said.

However, Bangkok should facilitate foreign investment by eliminating any regulations such as tariffs that might cause difficulty, he said.

For instance, the government should consider allowing foreign investors to own 100 per cent of some businesses. Also, the government should ensure that the Foreign Business Act and the country's first-ever Retail and Wholesale Business Act would promote private-sector operations.

UK investors are interested in doing more business in the region in the areas of transport, defence goods, pharmaceuticals, finance, education, autos and consumer-goods manufacturing, he said.

As a closer economic partner, UK visitors will continue to flock here and reach the million level in a few years, he said.

Thailand is one of the most popular tourist destinations for Britons, with over 900,000 vacationing here last year.

On Tuesday, Jones met Prime Minister Samak Sundaravej and the deputy commerce and industry ministers.

Petchanet Pratruangkrai

The Nation