ID :
108590
Thu, 02/25/2010 - 19:35
Auther :
Shortlink :
http://m.oananews.org//node/108590
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Map Ta Phut investment positive after seven projects resume: Banker
BANGKOK, Feb 25 (TNA) – The investment outlook in the Map Ta Phut industrial estate in Thailand’s eastern seaboard is turning bright after the courts have lifted the suspension of seven projects, Krung Thai Bank president Apisak Tantivorawong said on Thursday.
The seven projects administered by the Siam Cement Group and Thai oil and gas conglomerate PTT have been allowed to continue their construction, to install machinery and equipment and to do test runs.
The companies filed complaints to the Central Administrative Court two weeks ago, on February 11.
Following the lifting of suspension, Mr Apisak said there are bright prospects for investment and it will benefit the construction sector, and bank loan processing for the industrial projects as well as for the labour market.
Private investors are required to conduct Health Impact Assessments (HIA) and Environmental Impact Assessment (EIA) and the court will later consider whether or not to allow the projects to operate or not when construction is complete.
However, Mr Apisak was confident that large-scale projects run by private companies, particularly SCG and PTT, have high standards in conducting HIA and EIA evaluations.
Meanwhile, he said that domestic political problems and the suspension of the Map Ta Phut projects had impacted foreign investors’ confidence, especially Japanese businessmen who view that Thailand was less attractive than Vietnam.
Although Thailand has good basic infrastructure, it faces some legal uncertainty. The problem must be solved urgently, otherwise foreigners will move to invest in other countries which remain stable.
The Map Ta Phut impasse in the eastern province of Rayong came into the spotlight when the court suspended 76 industrial projects due to the environmental concerns in September. The injunction followed complaints from residents and environmental groups that state agencies had failed to issue proper
operating licences for the industrial projects.
The Supreme Administrative Court later allowed 11 of the 76 projects to continue operating, with 65 ordered to remain shuttered until they comply with the environmental and health requirements of Section 67 of the 2007 Constitution. (TNA)
The seven projects administered by the Siam Cement Group and Thai oil and gas conglomerate PTT have been allowed to continue their construction, to install machinery and equipment and to do test runs.
The companies filed complaints to the Central Administrative Court two weeks ago, on February 11.
Following the lifting of suspension, Mr Apisak said there are bright prospects for investment and it will benefit the construction sector, and bank loan processing for the industrial projects as well as for the labour market.
Private investors are required to conduct Health Impact Assessments (HIA) and Environmental Impact Assessment (EIA) and the court will later consider whether or not to allow the projects to operate or not when construction is complete.
However, Mr Apisak was confident that large-scale projects run by private companies, particularly SCG and PTT, have high standards in conducting HIA and EIA evaluations.
Meanwhile, he said that domestic political problems and the suspension of the Map Ta Phut projects had impacted foreign investors’ confidence, especially Japanese businessmen who view that Thailand was less attractive than Vietnam.
Although Thailand has good basic infrastructure, it faces some legal uncertainty. The problem must be solved urgently, otherwise foreigners will move to invest in other countries which remain stable.
The Map Ta Phut impasse in the eastern province of Rayong came into the spotlight when the court suspended 76 industrial projects due to the environmental concerns in September. The injunction followed complaints from residents and environmental groups that state agencies had failed to issue proper
operating licences for the industrial projects.
The Supreme Administrative Court later allowed 11 of the 76 projects to continue operating, with 65 ordered to remain shuttered until they comply with the environmental and health requirements of Section 67 of the 2007 Constitution. (TNA)
