18 foreign firms received licences in Sept to operate in Thailand

[webfact]

18 foreign firms received licences in Sept to operate in Thailand

By THE NATION

 

Vuttikrai Leewiraphan

 

The Department of Business Development granted licences to 18 foreign companies to conduct business in Thailand, director-general Vuttikrai  Leewiraphan said on Tuesday.

 

“Most of these companies are from Japan, Singapore and Hong Kong,” he said. “They employ 428 Thais and have an investment capital of more than Bt470 million, as well as technological know-how from their countries.”

 

Vuttikrai said Thailand is in need of technology transfer in the fields of off-shore rig engineering and decommissioning, petroleum drilling and safety, electrical and electronic systems for platform screen doors, agile software development, aerospace engineering, and more.

 

“Among the 18 foreign companies which were granted licences, six are in business services – IT, accounting, financial, organisation development – while five are in consumer services – e-payment, e-recruitment software, equipment renting,” he said. “As for the rest, five are in private construction contracting and two in the retail business.”

 

According to statistics from the department, since January 155 foreign companies have been granted licences to conduct business in Thailand, generating more than Bt21 billion worth of investment.

 

Thailand has yet to liberalise its services sector to foreign companies, causing these investors to apply for licences to conduct businesses in specific fields first.

 

The sectors that a majority of foreign companies are interested in include engineering and construction of power plants and elevated train routes, petrol vehicles and equipment management and decommissioning, and resource survey satellite testing and technical support.

 

Source: https://www.nationthailand.com/news/30376936

 

-- © Copyright The Nation Thailand 2019-10-01

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[Cadbury]

24 minutes ago, webfact said:

18 foreign firms received licences in Sept to operate in Thailand

An envelope bonanza for a some on the selection panel.

[timendres]

11 minutes ago, Cadbury said:

An envelope bonanza for a some on the selection panel.

Envonanza!

[Chelseafan]

155 licenses since January? How does that compare for the same period last year?

 

For all we know this could be down 90% year on year.

 

I really wish they would give us the full facts rather than the spin.

 

 

[legend49]

Vuttikrai said Thailand is in need of technology transfer in the fields of off-shore rig engineering and decommissioning, petroleum drilling and safety, electrical and electronic systems for platform screen doors, agile software development, aerospace engineering, and more and more.

 

Seems you could go from A to Z in the alphabet of company types, they need all of it; BUT we dont need smart farangs here.

[johng]

1 minute ago, legend49 said:

in the fields of off-shore rig engineering and decommissioning, petroleum drilling

Strange they are having a "ding dong" with Chevron about that at the moment.

[happy chappie]

They forgot to mention how many companies have folded or left Thailand in the same period.surely Thailand is the hub of folded businesses and broken contracts.

if you ask me £12 million is peanuts for foreign company investments.

[hotchilli]

1 hour ago, legend49 said:

Seems you could go from A to Z in the alphabet of company types, they need all of it; BUT we dont need smart farangs here.

The'll take the financial in-put... the technical assistance then boot them out !

[Chang_paarp]

3 hours ago, webfact said:

Vuttikrai said Thailand is in need of technology transfer in the fields of off-shore rig engineering and decommissioning, petroleum drilling and safety, electrical and electronic systems for platform screen doors, agile software development, aerospace engineering, and more.

Interesting list here. I wonder if it has anything to do with the dispute they are having with Chevron?

[DrTuner]

So.. why do they opt for a license instead of a local subsidiary? Don't want to deal with the red tape and corruption and having to have useless somchais working for the local entity?