RJT McLaren
Political Adviser
Government Secretariat
Lower Albert Road
Hong Kong
mfflytt
B
tute &
3rd contres the
никочо 15...
ра
MAR 1983
17 March 1983
T482513
91
THAILAND AND HONG KONG: INVESTMENT POACHING
1. Although I do not have the reference to hand, I recall your asking us to keep you posted on efforts in the region to attract investment away from Hong Kong.
2.
The attached article from the January 1983 edition of "Business in Thailand" describes the Thai effort to date.
A
3. Although I have not discussed the matter directly with any members of the Committee set up by the Thai Industry Minister to look into the possibility of attracting Hong Kong investment funds here, I have laid one or two traps. contact who is close to one of the advisers to the Committee tells me that so far there has been very little "benefit" to Thailand from uncertainty about Hong Kong's future. Apparently when the Chairman of the Bangkok Metropolitan Bank, Udane Techapaibul, visited Hong Kong to sound out interest in switching funds to Thailand among various business-
Those he contacted men, he came away extremely disappointed.
seemed to be more interested in putting their money in the States, Europe or Singapore.
D A Burns
сс
HKGD, FCO
(Bayrisk
B.E