Opinion: Thai business elite hinders broad economic development
Some people still think that the big companies are the main players in the economy, in terms of economic growth, innovation and sustainability. However, economists know better.
The Thai heart speaks
The Thai word "jai" means "heart". The word is often used in conversations between Thais and it is also a popular word in advertising campaigns. It is usually used as part of a sentence to represent "relationship" or "humanity".
Starting up the economy in Thailand
Now that phase 3 of the Covid-19 measure is entering, which means a further relaxation of the corona rules, the government wants to encourage the business community with an amount of 200 billion baht per month to restart the "business".
Foreigners who use Thai stooges to set up or run a business in Thailand should watch their step. The government is considering amending the Foreign Business Act, with particular attention being paid to the definition of 'foreigners'.
Business culture in Thailand
Thai society has very strict rules regarding everyone's position in a rigid hierarchical structure and that certainly also applies in the business world.
Japanese diplomat warns of investor exodus
The proposed amendment to the Foreign Business Act to limit foreign control over joint ventures has serious implications for existing and future investment. She gives the impression that Thailand is not really interested in welcoming foreign investment. A Japanese diplomat and the Joint Foreign Chambers of Commerce are deeply concerned about the change.
The soup is not eaten as hot as it is served
The Department of Commerce is trying to allay concerns among foreign companies about the proposed amendment to the Foreign Business Act to restrict those companies. There will be a transition period and the change will not apply to all companies.
Foreign companies fear ownership restrictions
The Department of Commerce's business development department wants to close the loopholes in the Foreign Business Act. The aim is to combat the dominance of foreigners in companies. Foreign chambers of commerce and embassies are very concerned about the plans.
News from Thailand (updated) – November 7, 2013
The Senate will begin consideration of the controversial amnesty proposal on Monday. It is expected that he will reject the proposal, but not everyone is convinced. Anything can still happen.
News from Thailand – November 4, 2013
Today in News from Thailand:
• Columnist: Pure nonsense that demonstrators are paid at Samsen
• The business community is also raging against the amnesty proposal
• Possible elections early next year; Thaksin is preparing
Helping hand for affected businesses
With a package of support measures, the government is helping hard-hit businesses and hopes to restore investor confidence. The measures include loans with an extended repayment period and tax deductions for losses over a longer period. The Board of Investment will propose to the cabinet to scrap import duties on spare parts and raw materials, which are used to replace equipment damaged by the water. The BoI will also assist in arranging…