Victory ! Fba 2 Is Going Down

[cclub75]

The thai soldiers are going back IN LINE.

Chalongphob said new foreign ownership restrictions approved by Thailand's Cabinet in January should be scrapped and changes made only to telecommunications law.

``We should target the amendment of telecom law, not change a law that affects so many sectors that would hurt foreign investors.''

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Another proof that the previous Finance minister was... sacked.

Anyway, wait and see. It could be another trick.

[ozymandious]

I'll take a shoot at the white elephant

Is it politically incorrect for them to say that "we're only going after shin corp assets sold to foreign nations whose alien holding we consider to be a threat to national security?"

It seems to be the underlying text but have they ever come out and said that? Can they?

This is not meant to be a cheeky question. I'd really like to know, but I'm sure as in all politics there may not be a clear answer.

Edited March 9, 2007 by ozymandious

[samran]

I'll take a shoot at the white elephant

Is it politically incorrect for them to say that "we're only going after shin corp assets sold to foreign nations whose alien holding we consider to be a threat to national security?"

It seems to be the underlying text but have they ever come out and said that? Can they?

This is not meant to be a cheeky question. I'd really like to know, but I'm sure as in all politics there may not be a clear answer.

The past months since the coup have ultimately be about this and political payback to those who were close to TRT. The bloodletting at the MOF isn't just happening at the top.

Understand this and everythings starts to make sense. I've always maintained that many of those in bought in to run the civilian government aren't stupid. Infact there are many brilliant people there, who, "if" we could have some sort of benelvoent dictatorship for say 5 years, would be fantastic for the country.

However, you add a layer of politics, 1 year to achive things, and these things become confused and blunt policies result.

[quiksilva]

Im cautiously optimistic, a friend knows this guy and mentioned he was against the FBA and Capital Controls and in favour of free markets

All fingers and toes crossed here!

[A_Traveller]

It should be noted that the intention though was to bring Thailand into line with international practice. The present {flexible} position has always been questionable. To be honest amendments in other relevant laws over the last few years did presage such a move.

But admittedly the present crowd do seem to have a functional disregard for policy presentation. What family trip?? Heaven forfend, I'm a hero you know... etc..

Regards

[cclub75]

Well... Nothing is simple in Thailand.

The Commerce Minister doesn't agree with the Finance Minister. He has the lead on FBA amendment. And he wants to continue. For him, what said the Finance Minister was just an "opinion" !

http://www.nationmultimedia.com/2007/03/10...es_30028967.php

We could have assumed that Chalongphob's words, just after his nomination, would have an official touch.

Non.

Therefore : if Commerce Minister continues, then it means that he as... a green light. Of the Prime Minister ?

So to sum'up : more contradictions within the government. More Z-turn. More uncertainty. More mess.

Who is running this country ? And what policies they pursue ?

Edited March 9, 2007 by cclub75

[quiksilva]

Well... Nothing is simple in Thailand.

The Commerce Minister doesn't agree with the Finance Minister. He has the lead on FBA amendment. And he wants to continue. For him, what said the Finance Minister was just an "opinion" !

http://www.nationmultimedia.com/2007/03/10...es_30028967.php

We could have assumed that Chalongphob's words, just after his nomination, would have an official touch.

Non.

Therefore : if Commerce Minister continues, then it means that he as... a green light. Of the Prime Minister ?

So to sum'up : more contradictions within the government. More Z-turn. More uncertainty. More mess.

Who is running this country ? And what policies they pursue ?

^^ I get the impression that the politicians are asking those very same questions!

[womble]

Well... Nothing is simple in Thailand.

The Commerce Minister doesn't agree with the Finance Minister. He has the lead on FBA amendment. And he wants to continue. For him, what said the Finance Minister was just an "opinion" !

http://www.nationmultimedia.com/2007/03/10...es_30028967.php

We could have assumed that Chalongphob's words, just after his nomination, would have an official touch.

Non.

Therefore : if Commerce Minister continues, then it means that he as... a green light. Of the Prime Minister ?

So to sum'up : more contradictions within the government. More Z-turn. More uncertainty. More mess.

Who is running this country ? And what policies they pursue ?

Yes and we all know what markets think of uncertainty.

Great if your in the know and are taking out positions on the futures market though...............

Once again a few get rich whilst the rest of the country gos to the dogs.

[Phil Conners]

Once bitten, twice shy.

[1Rai.com]

It's still early days yet, but I for one am happy with the appointment of Chalongphob; I'd prefer him as finance minister to Pridiyathorn any day, but then my opinion is biased in favour of foreign investment. We should remember that not everyone agrees with that, and the aim is to get to some point of equilibrium that is most beneficial for Thailand, now and in the future.

Two things he's come out and said immediately are:

1. Stricter foreign investment rules endorsed by Cabinet in January were too broad and should be scrapped.

2. Foreign investor confidence in the government's policies has been weakened significantly. Any new policies should not harm confidence further.

Well... Nothing is simple in Thailand.

The Commerce Minister doesn't agree with the Finance Minister. He has the lead on FBA amendment. And he wants to continue. For him, what said the Finance Minister was just an "opinion" !

http://www.nationmultimedia.com/2007/03/10...es_30028967.php

We could have assumed that Chalongphob's words, just after his nomination, would have an official touch.

Non.

Therefore : if Commerce Minister continues, then it means that he as... a green light. Of the Prime Minister ?

So to sum'up : more contradictions within the government. More Z-turn. More uncertainty. More mess.

Who is running this country ? And what policies they pursue ?

Cclub75, this is an excellent point - Krirk-krai, the Commerce Minister, the same one that said, "Why should we amend the act when we've spent the last 3 months working on it... this is Thailand", "if you look in Phuket, Samui and Koh Chang, all the land is in the hands of foreigners" and "we are not anti-globalisation, but we don't want foreigners coming here buying land" when the Chamber of Foreign Commerce expressed their concerns, is in charge of the FBA amendments.

Personally I can't see him staying there if he sticks with this rather nationalistic approach as that attitude is as much to blame for the economical slide in the foreign sector as the proposed legislation changes themselves. But I'm not a political adviser so my opinion doesn't mean much. Anyway, new laws go from the drawing board to the cabinet to parliament to the King before they are put into place, so they do get checked and discussed. I can't see laws being approved by all these people if they are not in the best interests of the country.

[cclub75]

Here is the last episode of the Saga.

The cabinet will study a new draft (written by some NLA members) mid april.

The draft is even more insane than the previous one, and basically make the whole issue even more complicated.

Meanwhile, an official from the Commerce minister say: "it remained uncertain whether the FBA reforms would be considered at all before the interim government's term expires".

More and more uncertainty. It's really bad for the country.

http://www.bangkokpost.com/Business/14Mar2007_biz36.php

[Nontaburi]

would like to make a couple of comments.

If you read the revisions to the Jan. 9 draft as proposed by Khun Somchai and the NLA (by the way, unofficially endorsed by the Council of State) you will see that in fact the new version is less restrictive. There is legitimate complaint that it may be more complicated, however I'm relatively certain this was done intentionally to allow for interpretation during enforcement.

The fact is that considerable pressure is being put on the present Gov't to stop the common practice of using nominees which has always been "illegal" under the FBA, and in most cases, most countries.

As for placing the discretional dicision making authority on the Commerce Committee under the provision of new Ministerial Regulations, this has a lot of people riled because it may result in a lack of consistancy and transparency. Well, that nature of the committee is what could be deemed as causing the problematic situation we're in now, but on the other hand their lax, superficial methods resulted in the allowance of many thousands of foreign firms to set up with nominee structures. Good for some, not so good in terms of legality.