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Published on December 7, 2007

Meanwhile, governments of small countries, hungry for foreign currency, embrace such investment.

Without globalisation, many countries like China and Vietnam would have remained shut from the outside world. Now look at them - they are the favourites of investors across the world and they are very eager to draw more investors.

Thai investors are certainly not unique in that they are also looking forward to investing in other countries.

It seems to be a win-win situation for investors and the governments of recipient countries. Why then do Thai firms feel the most negative about this trend?

The Grant Thornton International Business Report 2007 showed Thailand was last on the list when manufacturers were asked if they considered globalisation an opportunity or a threat. What is surprising is that firms in neighbouring Malaysia are at the top of those who consider it an opportunity. India and Singapore are also among the top five.

That's peculiar. For years, particularly during the Thaksin administration, Thai companies have been encouraged to believe that they are worthy and capable of competing against global players, so what might the survey figures indicate? That Thai manufacturers are insecure about their competitiveness in the modern world?

At a time when several Thai companies have invested overseas, this shows that most don't have confidence in their competitive edge, even when the main fighting arena is at home.

This may also explain why some foreign companies with investments here are treated with suspicion and fear.

I can't imagine what could happen to the country if the fears were to persist and grow. Some sectors may be virtually shut out from foreign penetration. Are we so cautious of being taken advantage of that we are afraid to exploit any possible opportunities?

achara_d@nationgroup.com

The Nation