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EABC Seminar On Foreign Business Act
February 26 @ 8:30 am - 11:00 am
The Foreign Business Act was enacted in AD 1999, with the intent of protecting Thai industries not yet ready to compete. An annual review mechanism was intended to allow industries over time to be opened up to competition, but that system has barely been used. The Foreign Business Act is about commercial presence – ie business activities conducted by entities. Thus a company incorporated in Thailand with 49% or less foreign ownership is a ‘Thai company’ and would not face restrictions under the FBA, but a company with 50% foreign equity would be a ‘foreign’ company. How is this equity measured and what does it mean for the economy and possible future change?
It is generally considered that many industries are ready to compete, but they remain officially closed. Most companies would benefit from completion, rather than be harmed by it. The real harm is more likely to be the continue protection, allowing inefficient and non-competitive practices.
This seminar will provide an understanding of the workings of the regulation of foreign investment and insights into what can be done to contribute more to the competitiveness of the Thai economy. Come and learn from experts why this key piece of legislation has barely moved since 1999 how the services sector can be stimulated, as well as other insights.