Thailand's military-installed premier has defended a series of shifts in the country's economic policies, saying investor confidence will not be undermined in the kingdom, state media reported Sunday.

The government of Surayud Chulanot has presided over an array of changes, including limits on capital inflows and an overhaul of a law governing foreign investments, although it has reversed key parts of the policies after protests.

"I think the growth rate of the Thai economy is not that bad at four (percent) plus," Surayud told Malaysia's official Bernama news agency in an interview.

"We are quite sure of what we are doing at the moment. I am satisfied with what we are doing at the moment," he said.

Surayud's comments followed the resignation Wednesday of Somkid Jatusripitak, the head of the military government's new economics team, less than a week after his appointment.

Analysts said his departure would only heighten investors' concerns about Surayud's stewardship of the country's economy amidst uncertainty over his policies and a number of policy U-turns.

In the spotlight are proposed changes to the Foreign Business Act, which would limit foreign investors to holding not more than 50 percent of the shares and voting rights in companies.

Business leaders have said the proposals have left foreign firms uncertain and confused about the impact of the revised law.

But Surayud, in a bid to reassure investors, said the amendments were "still in the pipeline" and that the government would listen to their concerns.

"We are trying to let them have a channel to voice their concerns with the drafting committee. If we think that it is appropriate to make some amendments, we will also accept them," he said.

Surayud also defended limits to foreign shareholdings, saying foreign investors had tried to skirt limits on ownership by indirectly using nominee Thai companies to buy shares.

"We are trying to make it open and clear to all," he said.