Seven-point plan to assure foreign firms

The business sector yesterday outlined a seven-point proposal to the government to help flood-affected enterprises to recover and foreign investors to regain confidence, including guaranteeing no more floods.

After brainstorming with 30 foreign chambers and the Thai Chamber of Commerce, Nandor von der Luehe, chairman of the Joint Foreign Chambers of Commerce in Thailand, said yesterday that the government needed to announce clear plans for rehabilitation and for the prevention of future flooding.

The seven points include soft loans for small and medium-sized enterprises; delay in payments of corporate, customs and Board of Investment taxes; and unemployment assistance, as many companies have been flooded and cannot pay their workers any longer.

The government should also ensure that each firm can get insurance coverage for its future investment. The government should work with foreign experts to solve the problem of severe flooding and provide accurate and timely information to foreign investors, as they have been given an unclear picture on the flood situation.

The government should prepare long-term measures and put on the national agenda a guarantee that there will be no flood in Thailand after this year. Otherwise, some foreign investors could leave while new ones will not come to the country.