Foreign Business Act- And What U Can Do!

The FBA is now being voted on. Unknown to many of us,

there is a lobby for foreign interests in Bangkok, that supports weakening it or throwing out the act altogether.

On Aug 8 a majority of the NLA (Legislature) voted in favour of expanding the definition of foreigners to include: a) the power to appoint or remove a majority of directors, the power to determine the company's future direction, and c) in the case of multi-tier holding company structure, a proposal to categorise each tier in the structure as foreign.

http://www.bangkokpost.com/Business/23Aug2007_biz37.php

He said that businesses in the manufacturing, export and some other industries were not affected. (i.e. Japanese multinationals)

Also, there is a lobby that supports tightening of screws on foreigners.

Here are some orgs that may help to sway lobbyists:

* Joint-Foreign Chambers of Commerce is looking out for foreigner's rights. Deepak Mittal is the vice-chairman.

* British Chamber of Commerce in BKK. (BCCT). www.bccthai.com, 7th Floor, 208 Wireless Road, Lumphini, Pathumwan, Bangkok 10330

Tel: +66 (0) 2651-5350-3 Fax: +66 (0) 2651-5354 Email: [email protected]

* American Chamber of Commerce in Thailand

7th Floor, GPF Witthayu A, 93/1 Wireless Road, Lumpini, Pathumwan, Bangkok 10330

Tel: +66 (0) 2254-1041 Fax: 66 (0) 2251-1605 Email: [email protected]

It seems that the old business of Thailand is still angry about the 1997 baht crisis when they had to sell off their businesses to foreigners, and this is their payback by shutting all foreigners out from the economy, leaving a clause for Japanese manufacturers, of course. Yet all foreigners in service industries are blanket targeted, whether we had anything to do with the crisis or not.

Nevertheless, I feel that something can be done to stop this Act. If u r angered by this law, don't complain. Do something! Now's the time, as they are voting on this act!