Thai private sector suggests addressing obsolete laws to improve investment

[webfact]

Private sector suggests addressing obsolete laws to improve investment

BANGKOK, 30 July 2014, (NNT) The Federation of Thai Industries (FTI) and other related agencies are urging officials to amend obsolete laws to facilitate investments.

According to the FTI, investors’ confidence has been on the rise since the authorities ironed out political conflicts in the nation. The FTI, together with the Board of Investment, the Thai Chamber of Commerce (TCC) and the Thai Bankers’ Association (TBA), has pushed for more investment projects, adding that the remaining project applications should be approved of by the BOI board within the next couple of months.

The coalition has also urged the authorities to simplify their process in acquiring factory operating licenses.

The group yesterday organized a seminar on addressing the problems of laws considered obstructive to investments, such as customs regulations and duplicated taxation, among others.

The FTI, the TCC and the TBA volunteered to work with the private sector brainstorming measures to amend the laws, in order to better facilitate investments for local and foreign investors, while strengthening local SMEs at the same time.

[nnt]2014-07-30[/nnt]

[terryp]

i think this applies to all aspects of Thai Law.....especially Immigration for Foreign Investors , what has taken place over the past 24 hours is a very glaring example why

[kurnell]

Why change a good thing?

[siampolee]

Perhaps  more selective application of laws that are on the statute book  might well be the answer.

 

There has to be a relaxation on the arcane  laws regarding business, property and land ownership etc in Thailand if the Thai wish to play ball in the global village business park.

 

 

[belg]

so no change in the : farang can only own 49% of the company founded with 100% of his monnies ?

[noitom]

No Thai ever paid attention to the laws before while using the bribe and under the table approach. The old Thai Mr. 20% rule. Then along comes the law and threats to enforce it and the Thais and foreign investors are now lobbying for amendments and or new "interpretations."

[MaiChai]

so no change in the : farang can only own 49% of the company founded with 100% of his monnies ?

The answer is be smart and invest more wisely; eg somewhere else where you can own 100%.

[kamahele]

How about an end to the having to have a  sham partner for foreigners... How about letting foreigners purchase land to do business on...

[ttthailand]

Thailand is for Thai people it is not our country. If foreigners were permitted to come in and freely open companies and buy land prices would skyrocket and normal working Thais would never stand a chance. Now if they perhaps put a heavy tax on all farang buying land and limit it to one Rai per farang for personal use only than perhaps it could work. Perhaps a measure stating you must hold for 3 years before resale and and close all loopholes to stop farang from owning more.
Business should be permitted but they have to be limited or these big international companies would take over in a few years driving all Thai businesses under.
We all want changes but look at it through the eyes of a Thai.

[timewilltell]

Thailand is for Thai people it is not our country. If foreigners were permitted to come in and freely open companies and buy land prices would skyrocket and normal working Thais would never stand a chance. Now if they perhaps put a heavy tax on all farang buying land and limit it to one Rai per farang for personal use only than perhaps it could work. Perhaps a measure stating you must hold for 3 years before resale and and close all loopholes to stop farang from owning more.
Business should be permitted but they have to be limited or these big international companies would take over in a few years driving all Thai businesses under.
We all want changes but look at it through the eyes of a Thai.

Why would prices skyrocket if foreign businesses could open without Thai partners. I think the law is blinkered. Thai partners add nothing to a business in most cases. I think anyone should be able to open a business but there should be a minimum percentage of Thai Staff - and not 80% maybe 50% or some sliding scale according to size of business. Most businesses spend on goods and services in Thailand and most employees and owners spend money in Thailand which all goes to grease the wheels and help the economy.

Your idea on limited land ownership with minimum holding periods to avoid opportunistic speculation is a good one. The big internationals are already here anyway so where is the relevance?


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[Jonmarleesco]

There are other obsolete laws they could/should review, not just those related to investment.

[Jonmarleesco]

Thailand is for Thai people it is not our country. If foreigners were permitted to come in and freely open companies and buy land prices would skyrocket and normal working Thais would never stand a chance. Now if they perhaps put a heavy tax on all farang buying land and limit it to one Rai per farang for personal use only than perhaps it could work. Perhaps a measure stating you must hold for 3 years before resale and and close all loopholes to stop farang from owning more.
Business should be permitted but they have to be limited or these big international companies would take over in a few years driving all Thai businesses under.
We all want changes but look at it through the eyes of a Thai.

Funny the Thais don't see the irony of their being able to do just that in other countries; nor, apparently, do you. But in any case, your argument over skyrocketing prices doesn't hold water.

[CantSpell]

 

so no change in the : farang can only own 49% of the company founded with 100% of his monnies ?

The answer is be smart and invest more wisely; eg somewhere else where you can own 100%.

 

 

I think I read somewhere that this is going to change with Asean...

Asean Companies may be able to own 75% if I remember correctly...

 

Open a company in another Asean country and problem solved by then... hopefully...

[belg]

Thailand is for Thai people it is not our country. If foreigners were permitted to come in and freely open companies and buy land prices would skyrocket and normal working Thais would never stand a chance. Now if they perhaps put a heavy tax on all farang buying land and limit it to one Rai per farang for personal use only than perhaps it could work. Perhaps a measure stating you must hold for 3 years before resale and and close all loopholes to stop farang from owning more.
Business should be permitted but they have to be limited or these big international companies would take over in a few years driving all Thai businesses under.
We all want changes but look at it through the eyes of a Thai.

 

the apologist brigade has arrrived

 

when rich thais can buy land/house/business in our home countries, how hypocrite is it not to give the same right to others ?

 

who owns most of the land or everything in thailand? same as in your home country !

 

not the poor thai farmers, they will never own their own land, they are slaves of the rich thai hi-so chinese families

 

a heavy tax for everybody who speculates on land...

 

 

just make a law... they can check what was the value when buying the land, tax the profits on the sale with 90%

 

problem solved