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The Thai Government is currently taking steps to reassure foreign investors, one of Thailand‘s biggest money earners, that the present wave of political protests is a short term affair and isn‘t indicative of long-term instability.

Apparently, Foreign Minister Noppadon Pattama thought it necessary to reassure the British business community, in particular via the UK‘s Foreign Minister, David Miliband, that all was essentially well in the Land of Smiles and what discontent there was was merely a symptom of the democratic process.

Everybody here understands that street protests are normal in any democratic country and they don‘t have to hurt government stability,” Noppadon said in a press briefing in London on June 3, 2008.

Mr. Noppadon’s attempt to reassure both foreign investors and potential tourists was apparently in response to a recent report that Asian tourists in particular are shying away from Thailand because of the political protests, Malaysia and Indonesia, apparently issuing travel warnings to their citizens contemplating Thai holidays. Highly respected Thai commentator, Prawase Wasi, also warned that the Thai poltico-economic conflicts were discouraging investment and tourism and proposed the establishment of a national government as a solution.

All this popular mass protest recently witnessed in the streets of Bangkok, doesn’t seem to have radically affected Russian and Scandinavian investors, particularly in Pattaya, however. In 2007, 889,656 Russians visited Pattaya, up 84 per cent from 2006, making them the leading market for the resort. According to Raimon Land’s CEO, Nigel Cornick’s recent edition of the definitive property guide “Why invest…… Pattaya”, the Russians and Scandinavians have now displaced the Brits and Germans as the main property investors in Pattaya, which is particularly good news for developers in this fair city. And although the Russians have been coming here for the past 10 years, it’s only in the past two that they have started to buy up Pattaya properties. Last year, according to Raimon Land, Russian property purchases accounted for 22 per cent, (USD 7.7 million) of condominium sales in their upmarket developments Northshore, The Lofts, Southshore and Northpoint.

The Russians, however, not exactly being super-linguists as any Pattaya-Jomtien baht-bus passenger can readily attest, do tend to place their trust in their own language speakers, which is why recently so many Pattaya Real estate agents have begun to recruit Russian speakers, as a glimpse at the classified Jobs Offered sections of the local media will confirm. Although some longer term Russian Pattaya residents have begun placing their children in the local international schools where learning English is far cheaper than back in Russia.

One new trend, however, won’t gladden the hearts of the established Pattaya real estate agencies, however, that of the recent setting up of real estate agencies by authentic Russians, many of whom have direct links with the lucrative CIS tourist group market. Uriy Segal, the Russian president of Russian House, a newly set-up Pattaya property agency, stated “I think this year (2008), Russians will account for 40 per cent of property sales in Pattaya.” Segal also commented that compared to Moscow, property prices in Pattaya are a bargain.

Although there is a growing trend for Russians to open their own real estate agencies, their local Western brethren can still count on substantial Russian custom, however, as can be vouched for by the likes of Raimon Land, CB Richard Ellis and Siam Best Enterprises.’ ultra prestigious, Ocean 1 Tower. Russians, apparently, love to boast of their purchases back home and ownership in Siam Best Enterprises.’ ultra prestigious, Ocean 1 Tower, as SE Asia’s potentially tallest building comes top of the list.

For most Pattaya real estate agencies however, the Scandinavian local investor market is much less lucrative. Although there is a prediction by Colliers International of a huge incipient surge from Nordic RSH (retired and second home) investors, with Pattaya investments estimated at Bt1550 billion (2008-9), local real estate agents can expect to see little of this as the Swedish and Norwegian market in Pattaya is effectively sewn by up savvy Scandinavian developers who often sell Pattaya properties to their compatriots even before they come to what is now termed the Asian Riviera or mini-Bangkok, i.e. Pattaya.

– Pattaya Daily News 2008-06-06

here the source

Rental, operations and financial leasing, factoring will be allowed to have majority foreign ownership

BANGKOK: — Four additional restricted businesses - rental, operations leasing, financial leasing and factoring - will be made more open to foreign ownership this week.

“For these four businesses, it will be easier to hold more than 50 per cent in the company,” Kanissorn Navanugraha, director-general of the Business Development Department, said last week.

The department has already provided clearer conditions for representative offices, regional representatives, government-related service agencies, and groups consulting for foreign investors.

The contract-manufacturing business will be next to be relaxed under the Foreign Business Act, followed by the brokerage, internal trade involving agricultural goods, advertising agency, hotel operating, beverage and food retailing, seed development, computer service, warehouse control service, pawnshop, school and entertainment businesses.

All of them will still be listed in Annex III of the Foreign Business Act, but will receive more flexible conditions to operate here.

The move is apparently the government’s efforts in demonstrating its commitment to opening up for foreign investment.

Commerce Minister Ming-kwan Sangsuwan on Friday assured Japanese investors that all obstacles would be cleared. During their meeting, the investors raised a number of issues, particularly the FBA.

Presently, foreigners who want to operate an Annex III business have to ask for approval from the Foreign Business Act committee. As the new conditions go into effect, foreign investors will no longer be required to ask for the committee’s permission. The application procedure and approval process will be predictable and more transparent.

Under the former procedure to allow foreign investors to operate protected businesses in Annex III, the Foreign Business Act committee last week approved requests received this month for foreigners to hold more than 50 per cent in 29 companies in several industries. The main ones are agency offices, government-related service agencies, subsidiaries of foreign firms and logistics management firms.

Deputy Commerce Minister Banyin Tangpakorn has instructed the department to set up a committee to come up with a concrete plan on whether to amend the act by next month.

The new amendment should be friendlier to foreign investors, while still ensuring the survival of local enterprises, as the last version was too strict in controlling foreign investors, he said.

– The Nation 2008-03-31

taken from http://www.thaivisa.com

The incident occurred on Wednesday night on a yacht moored in the sea off Kata beach. After being informed of a shooting on a yacht, police led by Chalong superintendent Pol. Col. Samarn Chainarong rushed to the scene and found a New Zealand man Pierre Alain Oberson badly wounded. The man was sent to Phuket International Hospital. A girlfriend of the victim who declined to give out her full name told police that while she was on board with Mr. Alain, a foreign robber who wore a diving suit, climbed up to the boat and used a gun in a plastic bag to force the victim to give him valuables. Mr. Alain fought back and got shot in the chest and leg while the robber was also shot and pushed off into the sea during the fight. They then fired the firework for a distress signal. A man, Weeraphol Jaiyen who was on board another tourist boat heard the sound and came to help. Police used a long tail boat to search for the robber and found his body floating dead nearby with no identification papers.
The Chalong Police superintendent said this is the first time such a robbery on a yacht occurred and that he instructed officers to impose strict patrols around the bay to prevent such bad incidents reoccurring. Police also took photos of the dead man and seek public cooperation if they know the man as it would help police to further investigate the case.

from Andaman News TV11 (VHF dial) & KPP Cable TV channel 1 at 8.30am + maybe FM90.5 Radio Thailand 6pm, both broadcast to Phang Nga, Krabi & Phuket provinces, FM108 Mazz Radio 7.30pm in Phuket & Phuket Cable TV Channel 1 at 7, 10.30 or 11pm, Friday 11 January 2008 & http://news.prd.go.th

taken from http://www.thaivisa.com/