Foreign Firms Fear Tighter Restrictions.

[morrobay]

Foreign firms fear tighter restrictions. Headline on local newspaper. So is Thailand forgetting what kind of basket case economy they would have without foreign manufacturing firms setting up shop in Thailand ?

[Bkungbank]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

[paddyjenkins]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

Funny how Chinese and other Asian ownership of Thai land and businesses in Thailand is never mentioned, just the small minority that may or may not be dominated by "farang". It's all about race and race hate isn't it, really. The fact is Thais have been economically subservient to the Chinese in Thailand for decades, nothing more than low level employees in their own "motherland". But when a "farang" gets to employ some Thais, controls a company, one that is bought with their own money and run with their own expertise, that when the race based jealousy really kicks off. Sad, a country that is paranoid about colonization, but was colonized a long time ago, lock stock and barrel. Just that they aren't bright enough to see it.

[Chao Lao Beach]

Google below

" Foreign firms fear tighter restrictions Nominee loopholes in the firing line "

An article in a forbidden newspaper worth reading.

[Old Man River]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

I just read that Chinese investors are being allowed to buy land in the new economic zone in the Chiang Rai area. Please comment on how this is different. Edited November 3, 2014 by Old Man River

[Christie Paul]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

Get rid rid of the rich falang investors and get rid of the rich falang tourists as well.

Property prices will fall dramatically.

Better for locals.

[paddyjenkins]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

I just read that Chinese investors are being allowed to buy land in the new economic zone in the Chiang Rai area. Please comment on how this is different.

I suppose the difference is two fold. First, there appears to be an objection to a certain colour of skin...white. Second, if it's the Thai Chinese who rule Thailand that are calling the shots then it's no surprise they give themselves permission to do anything they like.

[whatawonderfulday]

There is only one reason and 1 reason only the crackpot government and the so called elite are pushing for this and that is corruption. They now full well that foreign control companies have an ethics policy that prohibits and deters any kind of corruption.

We all know that high level Thais, the so called elite together with the armed forces and RTP are some of the most corrupt organisations and individuals in the world so they can not have farang controlled companies stopping extortion, tea money and bribery can they. That is what the general and his gun toting friends have been brought up with and wish to see continue.

[garyk]

Kinda funny some of the remarks. Here is a quick take from me. About 6 years ago I hooked up with a very rich Chinese gal in KK. They owned so much property and employed so many Thais it was unreal. 7-11's. University campus housing. Huge rice storage and wholesale. Rice scheme comes to mind. It was a huge multi company holding.

She was ok, but I will never forget how she talked about the Thais. They were dirt under the Chinese feet. From religion right on down. And I am not exagerating. I was a little taken back by her remarks and actions. But, they did run a huge part of the city.

Edited November 4, 2014 by garyk

[Old Man River]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

I just read that Chinese investors are being allowed to buy land in the new economic zone in the Chiang Rai area. Please comment on how this is different.

I suppose the difference is two fold. First, there appears to be an objection to a certain colour of skin...white. Second, if it's the Thai Chinese who rule Thailand that are calling the shots then it's no surprise they give themselves permission to do anything they like.

While my comment was meant for someone else, the relationship between the Chinese and Thai Chinese is much different from what you think. Thai Chinese are Thai, just like Singaporan Chinese are Singaporan, Canadian Chinese are Canadian, American Chinese are American etc.

I think the FBA should be amended to directly allow foreign control when foreign ownership is the majority (stop the loopholes and allow it directly). The EU and USA are huge markets for Thai products. Pushing the west out and thinking China is the replacement is a mistake. Sadly, Thailand really doesn't have anything that Mainland needs. However, if Thailand is going to give them things (allowing them to buy land when other nationalities can't), they will take it, gladly. Just don't expect a whole lot in return.

[morrobay]

There is a difference between citizenship in a given country and genetic origin ^

[paddyjenkins]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

I just read that Chinese investors are being allowed to buy land in the new economic zone in the Chiang Rai area. Please comment on how this is different.

I suppose the difference is two fold. First, there appears to be an objection to a certain colour of skin...white. Second, if it's the Thai Chinese who rule Thailand that are calling the shots then it's no surprise they give themselves permission to do anything they like.

While my comment was meant for someone else, the relationship between the Chinese and Thai Chinese is much different from what you think. Thai Chinese are Thai, just like Singaporan Chinese are Singaporan, Canadian Chinese are Canadian, American Chinese are American etc.

I think the FBA should be amended to directly allow foreign control when foreign ownership is the majority (stop the loopholes and allow it directly). The EU and USA are huge markets for Thai products. Pushing the west out and thinking China is the replacement is a mistake. Sadly, Thailand really doesn't have anything that Mainland needs. However, if Thailand is going to give them things (allowing them to buy land when other nationalities can't), they will take it, gladly. Just don't expect a whole lot in return.

And when the thais, as opposed to the thai chinese, have realized they've become third class citizens, locked into poverty, and the Thai chinese and their mainland Chinese friends have bought up everything worth buying in the country, what then?

And additionally, if Chinese growth vanishes as many suspect, and the U.S and the West in general recovers from its malaise and it turns out not to be the Chinese century after all, and thailand has lost its Western and Japanese friends, then maybe thailand will find itself in real trouble.

[marcusd]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

I am not sure if I read you correctly but I do think you are wrong. Foreign companies owning the land?? Nah not here in Thailand.

having a Thai Director is prudent as there are laws on how long you can be away out of the country if you are a Director.

[marcusd]

Google below

" Foreign firms fear tighter restrictions Nominee loopholes in the firing line "

An article in a forbidden newspaper worth reading.

As I have stated in many other threads the Thai Government successfully over the last few years and it is STILL continuing despite assurances and bravado on the news media - foreigners are being thwarted in their objectives to build up business here. they just do not want our money unless it is a GIFT .

[marcusd]

Kinda funny some of the remarks. Here is a quick take from me. About 6 years ago I hooked up with a very rich Chinese gal in KK. They owned so much property and employed so many Thais it was unreal. 7-11's. University campus housing. Huge rice storage and wholesale. Rice scheme comes to mind. It was a huge multi company holding.

She was ok, but I will never forget how she talked about the Thais. They were dirt under the Chinese feet. From religion right on down. And I am not exagerating. I was a little taken back by her remarks and actions. But, they did run a huge part of the city.

Thais think small. Small tips. Bar fines. Small. This si the main issue. they only care if it tastes good. that's enough for them so i can see your gals point

[Old Man River]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

I just read that Chinese investors are being allowed to buy land in the new economic zone in the Chiang Rai area. Please comment on how this is different.

I suppose the difference is two fold. First, there appears to be an objection to a certain colour of skin...white. Second, if it's the Thai Chinese who rule Thailand that are calling the shots then it's no surprise they give themselves permission to do anything they like.

While my comment was meant for someone else, the relationship between the Chinese and Thai Chinese is much different from what you think. Thai Chinese are Thai, just like Singaporan Chinese are Singaporan, Canadian Chinese are Canadian, American Chinese are American etc.

I think the FBA should be amended to directly allow foreign control when foreign ownership is the majority (stop the loopholes and allow it directly). The EU and USA are huge markets for Thai products. Pushing the west out and thinking China is the replacement is a mistake. Sadly, Thailand really doesn't have anything that Mainland needs. However, if Thailand is going to give them things (allowing them to buy land when other nationalities can't), they will take it, gladly. Just don't expect a whole lot in return.

And when the thais, as opposed to the thai chinese, have realized they've become third class citizens, locked into poverty, and the Thai chinese and their mainland Chinese friends have bought up everything worth buying in the country, what then?

And additionally, if Chinese growth vanishes as many suspect, and the U.S and the West in general recovers from its malaise and it turns out not to be the Chinese century after all, and thailand has lost its Western and Japanese friends, then maybe thailand will find itself in real trouble.

1) The Thai Chinese are Thai. I guess you have to be in the Thai Chinese community to understand this. It is a dual culture.

2) The Chinese are, by far, not the biggest foreign investors in Thailand. Since the Chinese haven't shown the inclination in the past to be, I don't think it matters whether China remains prosperous or not. They will invest in other countries just as quick if the terms are right.

3) Thailand should be trying to attract FDI. Within reason, it should not be too choosy where it comes from, especially since it is the investors that really get to pick and choose.

Bottom line, on amendments to the FBA, we agree.

[Old Man River]

Kinda funny some of the remarks. Here is a quick take from me. About 6 years ago I hooked up with a very rich Chinese gal in KK. They owned so much property and employed so many Thais it was unreal. 7-11's. University campus housing. Huge rice storage and wholesale. Rice scheme comes to mind. It was a huge multi company holding.

She was ok, but I will never forget how she talked about the Thais. They were dirt under the Chinese feet. From religion right on down. And I am not exagerating. I was a little taken back by her remarks and actions. But, they did run a huge part of the city.

Out of curiosity, as a Malaysian, what did she think of Malaysians?

[Old Man River]

There is a difference between citizenship in a given country and genetic origin ^

I have to agree, but how important is the difference? My ancestors come from 6 different countries. I only waive one flag.

[konying]

Not sure, but are you referring to latest article about restricting ownership of restaurants to Thai only?

[Naam]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

[Thai at Heart]

It's a good move from government as many rich overseas investment companies are using puppet as directors but the actual decision fall on them, in many land in Phuket and Samui already bought but rich investment company it ends up in future Thai young generation lost their land to farang companies and end up thier only able to work as employee in thier motherland.

As opposed to being largely unemployed.

Nice logic.

[Thai at Heart]

Kinda funny some of the remarks. Here is a quick take from me. About 6 years ago I hooked up with a very rich Chinese gal in KK. They owned so much property and employed so many Thais it was unreal. 7-11's. University campus housing. Huge rice storage and wholesale. Rice scheme comes to mind. It was a huge multi company holding.

She was ok, but I will never forget how she talked about the Thais. They were dirt under the Chinese feet. From religion right on down. And I am not exagerating. I was a little taken back by her remarks and actions. But, they did run a huge part of the city.

I have met a few people like this, and they are generally very odious. They were in agribusiness, three families worth.

The worst was the third generation son who wizzed round town in his amg. I used to drag him round villages to look at the produce. He hated it.

Every second of it. Hot. Dusty. Dirty. His bazillions built on the sweat of others, and he didn't give a damn.