ASEAN to discuss investment

ASEAN to discuss investment

BANGKOK (AFP): Economic ministers from the Association of Southeast Asian Nations (ASEAN) will focus on investment when they meet on the Thai resort island of Phuket next week, Thai officials said on Tuesday.

Thai Board of Investment secretary general Staporn Kavitanon said the Phuket talks would develop the ASEAN Investment Area (AIA) framework announced last year, which aims to speed up free trade and promote investment.

"Besides stimulating investment in the ASEAN region, this meeting will also encourage the role of the private sectors to become more involved in investment activities," Staporn said.

"In addition, the meeting will strengthen the ties between ASEAN investment agencies both at the ministerial level and among heads of investment agencies."

He said the Phuket meeting would consider the creation of an ASEAN investment database, joint investment promotions and training programs for officials, plus a "liberalization program" to reduce or eliminate all restrictions to investment.