Government urged to be clear towards business law amendment

Tuesday 18 September 2007 12:28:42 PM (GMT+7:00)

BANGKOK, Sept 18 (TNA) – The government should have a clear policy towards amending financial and business laws to boost foreign investor confidence in investment in Thailand, according to a leading economist.

Speaking at an annual academic seminar held by the Fiscal Policy Office, Supavud Saicheua, managing director of Phatra Securities, said he saw a need for any government to clarify amendments to the laws, particularly the Foreign Business Act (FBA).

Currently, he said, legal advisors to foreign investors are not daring to advise foreign investment in Thailand because they are uncertain about the future direction under the amended FBA.

snip

MCOT Public Company Limited.

highlight mine

Government urged to be clear towards business law amendment

Tuesday 18 September 2007 12:28:42 PM (GMT+7:00)

BANGKOK, Sept 18 (TNA) – The government should have a clear policy towards amending financial and business laws to boost foreign investor confidence in investment in Thailand, according to a leading economist.

Speaking at an annual academic seminar held by the Fiscal Policy Office, Supavud Saicheua, managing director of Phatra Securities, said he saw a need for any government to clarify amendments to the laws, particularly the Foreign Business Act (FBA).

Currently, he said, legal advisors to foreign investors are not daring to advise foreign investment in Thailand because they are uncertain about the future direction under the amended FBA.

snip

MCOT Public Company Limited.

highlight mine

hear, hear.

hear, hear.

It's obvious, yes.

To put things into perspectives... The amendment process of FBA started... last october (officially).

(26 october 2006 :"The Minister of Commerce appoints the Foreign Business Act Committee (with 10 members) tasked with studying and proposing amendments to the FBA within 60 days.")

And since then, it's 2 steps forward, 1.6 step backward.

People are waiting... The thai authorities don't seem to know anymore what to do with this hot potato...

However, to scrap the whole idea woud be a huge loss of face. So they wait. They talk... And I believe it will be the job of the next gvt to scrap the whole project (FBA 2). Or to go ahead at full speed.

In both case, it won't be before.... february 2008 (at best) ! The new cabinet would be nominated in january...

It's a concentrate of stupidity.

Edited September 18, 200718 yr by cclub75