Gen. Chatchai Sarikulya, the Ministry of Commerce of Thailand, explained that there were concerns from foreign investors regarding the review of the Foreign Business Act B. E 2542, there were also a number of the meetings between the ministry’s executive and representative from various embassies, foreign chambers of commerce, and foreign investors where the aforementioned matter were raised and detailed information were sought by the representatives. To address and alleviate such concerns, the briefing session was held with a view to provide an opportunity to for the stakeholders to carry out in-depth discussion to ensure that the representatives and foreign investors received clear answer and attained greater clarity and understanding.

The Minister of Commerce reiterated that the government’s policies on foreign investment include 1) Investment promotion; 2) simplification of procedures for business operation and 3) facilitation of trade and investment. Thailand is currently undergoing a national reform process to enhance the country’s competitiveness and promote trade and investment. It must be pointed out that reviews of relevant laws are part of this process. In this connection, the Foreign Business Act is one of legislations to be studied by the Ministry of Commerce with a view to enhance the registration in accordance with the international practice, so as to create an investment climate where all stakeholders would benefit.

The study for the enhancement of the Foreign Business Act, which will be concluded in December this year, will determine issues that are in accordance with the government’s policy regarding foreign investment and could be undertaken by the current government.

Source: Thailand MoC News.

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