Suwit leads business delegation to Britain

The delegation will comprise high-ranking executives from Tesco Lotus, Thai Beverage, Bangkok Bank, Loxley, Central Marketing Group and Landmark Group.

Suwit's mission will be similar to that of Lord Jones, Britain's minister of trade and investment, and executives from 10 top UK firms during their trip here last March.

"It will be a good opportunity for the government to explain the country's economic and political conditions to investors in the UK," said British Trade and Investment director Steve Buckley.

He said Suwit would be expected to give a clear explanation about the ongoing political strife.

"What investors want is stability. I don't think our existing companies here feel threatened. But newcomers may hold back their decision until the situation becomes stable," he said.

It is "very important" for the situation to return to normal if Thailand wants to convince new investors to come here, he said.

However, he said Thailand is considered an attractive place for investment thanks to good infrastructure, being relatively free of natural disaster, proximity to several regional markets and available tax incentives.

Though much investment in manufacturing has shifted from Europe to Asia, opportunities in the service sector in the UK welcome Thai operators.

He said some Thai firms have expanded their business in the UK in hotels, department stores and processed foods with considerable success.

According to the Board of Investment, British investors submitted 18 applications with a combined investment of Bt4.249 billion in the first half, up from 13 applications worth Bt1.14 billion in the same period last year.

During 2003-2007, the UK has consolidated its position as the leading European Union investor in Thailand with 123 projects submitted.

They include SME manufacturers such as Triumph Motorcycles, plus Boots, Tesco and Standard Chartered.