No Change In Alien Business Act For Now

[george]

Activist bemoans alien law move

BANGKOK: -- The government must reveal the details of the Alien Business Act or Thai consumers would be hurt, manager of Foundation for Consumers, Sairung Thongplon said yesterday.

The Cabinet had been due today to consider a Commerce Ministry proposal to further liberalise the Alien Business Act but the amendments were withdrawn from the agenda yesterday amid disapproval from academics and consumers.

Sairung said she was concerned if the amendments were approved Thai consumers would be disadvantaged because all 20 law-related businesses are at the heart of Thai business.

She said in banking, when a consumer takes out a loan and pays interest it would mean they are paying money to a foreign country. In pawnshops, Thais exchange their assets for money. If they can’t pay on time their assets will be lost to foreigners.

However, Sairung said these examples were not as important as the possibility that if an alien business had a problem the Thai government could subsidise them with taxpayers’ money.

She said if a foreigner set up a private school they would receive subsidies equal to a Thai school, following the Alien Business Act. “Foreigners will refer to the law when they see they are disadvantaged and claim if an alien business can’t subsidised, then a Thai business can’t either,” Sairung said, adding Thai students would lose educational opportunities.

“Deputy Prime Minister Wissanu Krea-ngam knows this law is one way to strike the Free Trade Agreement deal with the United States, which both countries will negotiate in January,” she said.

The Alien Business Law allows non-residents to do business in 20 areas of financial services without having to obtain a licence or any regulatory approval.

--The Nation 2005-10-18

[Guest endure]

Hypocrite!

[fxm88]

This brings up an interesting question: is there any political party in Thailand that supports these kinds of reforms? The current ruling party is very nationalistic. There are many foreigners living in Thailand but they don't seem to have any political voice (indeed many Thais don't even seem to have a political voice). Are foreigners legally prohibited from the political process in Thailand? Or is it simply fear of a backlash against any party that embraced foreigners?

[Guest endure]

My best friends in the UK are Thai. When they first arrived in England 15 years ago they were full of the 'Foreigners can't own a piece of Thailand' propaganda that they'd been fed at school. Over the years as they've built a business and bought property in the UK they've come to realise that wealth generated in a country tends to enrich that country no matter who generates it. Nowadays they're quite vociferous about the unfairness of Thai laws that disadvantage farangs.

Edited October 17, 2005 by endure

[cclub75]

Last news is : the Minister of commerce has taken off the agenda this amendement.

Despite what they say ("no link") this amendement was written of course to speed up the FTA with USA...

Anyway, why they should be afraid ?

Look at what said the governor of the BOT : Bank of Thailand Governor MR Pridiyathorn Devakula yesterday brushed aside fears over foreign domination. “Foreigners can’t compete with Thais. Thais are talented,” he said.

Well done !

Anyway, it's just a matter of time...