webfact Posted September 10, 2019 Share Posted September 10, 2019 Cabinet approves steps towards "ease of doing business" By The Nation Among the key measures included in "Thailand Plus Package", a new package drawn up to attract foreign investment, is the easing of procedure for foreign investors in applying for visa and work permit. Citing a Cabinet decision on September 10 approving the new measures, Phalang Pracharat spokesman Kobsak Pootrakool said under the new package, foreign investors could deduct cost for career training in the field of advanced-technology field by 250 per cent from 200 per cent, effective immediately until the end of next year. Kobsak, in his capacity as secretary of the Council of Economic Ministers, said new hiring of Thai employees with special skills by foreign employers in the four fields under STEM educational doctrine - science, technology, engineering and mathematics - could enjoy 150 per cent corporate tax deduction from now until the end of 2020. He said foreign companies in the field of high technology, such as Microsoft, Huawei, IBM and Google, would soon be expanding their business and starting new operations in Thailand. Foreigners wanting to found or operate high-quality educational institutes or schools in the country are entitled to financial assistance under a government directive. The directive, launched two years ago under the supervision of the Education Ministry, will soon come under the charge of a new division, being set up to regulate the operations of educational institutes by foreign investors. Ministers also approved 50 per cent cut of corporate tax for investors who invest Bt1 billion or more within 2021 and apply for tax privileges within next year. The big tax cut will be offered for five years period and it is on top of current tax exemption for eight years. The package was proposed by the Finance Ministry and the Board of Investment of Thailand. Thailand currently ranks fourth place in Asean for foreign direct investment, according to BoI. Kobsak said the Cabinet expected the new measures to draw more than 5,000 new foreign companies applying for investment in Thailand with 40,000 Thai employees benefiting from the new conditions. Explaining "Ease of Doing Business", Kobsak said the package aimed to ease the complicated and time-consuming paperwork of an immigration protocol known as Tor Mor 30, which has drawn negative comments from both expatriates and foreign investors. Source: https://www.nationthailand.com/business/30376050 -- © Copyright The Nation Thailand 2019-09-11 Follow Thaivisa on LINE for breaking Thailand news and visa info 1 Link to comment Share on other sites More sharing options...
Popular Post timendres Posted September 10, 2019 Popular Post Share Posted September 10, 2019 You can ease the visa and work permit processes all you like (and frankly, they are not that difficult as is), but the TM30 trumps that by a mile. Visa and WP are once a year events. The TM30 is every time I travel, which could be weekly, or even daily for some. They still don't get it. 13 3 Link to comment Share on other sites More sharing options...
Popular Post Matzzon Posted September 10, 2019 Popular Post Share Posted September 10, 2019 Easy, is the factor here. It´s never as easy as it´s said to be. 4 Link to comment Share on other sites More sharing options...
Popular Post mok199 Posted September 10, 2019 Popular Post Share Posted September 10, 2019 Tor Ment -30 6 1 Link to comment Share on other sites More sharing options...
Popular Post rkidlad Posted September 10, 2019 Popular Post Share Posted September 10, 2019 Get rid of the TM30 first, and then you can start to look at making the WP process, etc, easier. Until then you’re wasting your time. And ours. 8 Link to comment Share on other sites More sharing options...
Popular Post Cadbury Posted September 10, 2019 Popular Post Share Posted September 10, 2019 2 hours ago, webfact said: Cabinet approves steps towards "ease of doing business" What about the ease of getting Thai state run enterprises to pay foreign investors damages awarded when the Supreme Court finds judgement against them and also turns down their appeal. The Minister for Transport and the SRT refuse to pay Hopewell the US400 million dollars awarded in damages and interest. The judgement was handed down on 23/4/2019 and they were given 180 days to pay up. The Minister still refuses and is challenging the ruling.....again. Take note foreign investors! Kingsgate is also still waiting for compensation after Prayut dispossessed their gold mine using his Article 44. The legal and moral requirements of Free Trade Agreements mean nothing to Thailand. So much for the ease of doing business in Thailand. Good luck with your Thailand 'Plus' Package. 17 3 Link to comment Share on other sites More sharing options...
Popular Post FarFlungFalang Posted September 10, 2019 Popular Post Share Posted September 10, 2019 Not only does Thailand rank 4th on the list it ranks LAST! 7 1 Link to comment Share on other sites More sharing options...
Popular Post Momofarang Posted September 11, 2019 Popular Post Share Posted September 11, 2019 Vietnam is just impressive. Asean's bright future isn't in Thailand, which is led by a flock of vultures, some of which wear green uniforms. 9 Link to comment Share on other sites More sharing options...
Popular Post futsukayoi Posted September 11, 2019 Popular Post Share Posted September 11, 2019 If you only allow foreign investors to own 49% of their company and hand over control and most of the profits to Thais is it really a surprise many hesitate. 10 Link to comment Share on other sites More sharing options...
Popular Post hotchilli Posted September 11, 2019 Popular Post Share Posted September 11, 2019 2 hours ago, futsukayoi said: If you only allow foreign investors to own 49% of their company and hand over control and most of the profits to Thais is it really a surprise many hesitate. I'm surprised how many actually trust the Thai system to come here & open a private business.. Only the conglomerates who command contracts of business dare stay. 3 Link to comment Share on other sites More sharing options...
Popular Post Caldera Posted September 11, 2019 Popular Post Share Posted September 11, 2019 (edited) Where will all those tech giants that are expected to open new operations in Thailand find the skilled workforce they will need? I think that is just a delusional fantasy considering the state of the education system and the work ethics of many Thais. Reality will set in at some point, and chances are most of these companies will go to the likes of Vietnam instead. Edited September 11, 2019 by Caldera Typo 5 Link to comment Share on other sites More sharing options...
Srikcir Posted September 11, 2019 Share Posted September 11, 2019 7 hours ago, Cadbury said: ease of doing business in Thailand Sometimes it seems that ease requires a joint venture with a China state-owned enterprise. 2 Link to comment Share on other sites More sharing options...
sammieuk1 Posted September 11, 2019 Share Posted September 11, 2019 Ease of business is wedge shaped nothing else matters ???? Link to comment Share on other sites More sharing options...
Eric Loh Posted September 11, 2019 Share Posted September 11, 2019 The government must reform the process of obtaining working visa and permit if they serious in making business easier for investors. The same amount of repetitive paperwork every year is tedious and wasteful. Link to comment Share on other sites More sharing options...
Popular Post Cadbury Posted September 11, 2019 Popular Post Share Posted September 11, 2019 5 hours ago, hotchilli said: I'm surprised how many actually trust the Thai system to come here & open a private business.. Only the conglomerates who command contracts of business dare stay. Plus there is the worry for foreign investors of Thai state run enterprises like the SRT being involved which, through sheer incompetence and mismanagement, can completely stuff up what would otherwise be a mutually acceptable contract. Then when it all hits the fan it usually ends up in a legal battle which by dirty tricks Thailand always seems to win. 3 Link to comment Share on other sites More sharing options...
DrTuner Posted September 11, 2019 Share Posted September 11, 2019 And then the prospective investor goes and googles how much red tape is involved in BOI. Next! 1 Link to comment Share on other sites More sharing options...
the guest Posted September 11, 2019 Share Posted September 11, 2019 All well and good, but who trusts the law ... one minute in your favor the other not ! Sorry, I will never do business in Thailand, the environment towards foreigners is too hostile! 1 Link to comment Share on other sites More sharing options...
Mac98 Posted September 12, 2019 Share Posted September 12, 2019 They want to reward tech firms 250% of the cost of training Thais to work for them. Why not pay for the cited education of two and one-half as many Thais as they plan to hire? Thailand will become knows for its available trained workforce and attract even more businesses. Link to comment Share on other sites More sharing options...
WeekendRaider Posted September 12, 2019 Share Posted September 12, 2019 (edited) the Nikkei Asian Review is just now running a story on Thailand balking on a high speed Chinese belt and road train. the first mention on that is that Thailand has and is spending a lot on infrastructure already. such as airports and "aviation hubs" that on October 7 there will be a surprise in London that "nobody could have predicted". or maybe is kryptonite all the way up until October 7 for our professional mass media stories to entertain us in a way we "like"..... as well as sell even more soap... which is very important. Edited September 12, 2019 by WeekendRaider Link to comment Share on other sites More sharing options...
Redline Posted September 13, 2019 Share Posted September 13, 2019 The Thai workpool doesn’t have the skills, so why would they agree and be forced into hiring them? Link to comment Share on other sites More sharing options...
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