Brexit and Thailand

Most commentators and newspapers are predicting that while Brexit will affect the world economy generally, it will have little affect on the Thai economy specially.  Siam Commercial Bank Economic Intelligence Center had this to say about Brexit’s likely affect on the …

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Thailand To Back Free Trade Area of Asia-Pacific (FTAAP)

While there has been much speculation over the past year as to whether or not Thailand would join the US-led Trans Pacific Partnership (TPP), Thailand now appears to be favoring a more Asia-focused trade proposal known as the Free Trade Area …

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New Article on the Department of Business Development

Access our new article providing information on the Department of Business Development (DBD), probably one of the most important departments for business persons doing business in Thailand, by clicking here. The Corporate/M&A and Investment Related Laws sections of the Knowledge part of our …

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17 Things You Probably Did Not Know About the Foreign Business Act and How the Can Affect Your Bottom Line

On 28 October 2013 PriceSanond partner Douglas Mancill will be speaking on an AMCHAM panel entitled: “17 Things You Probably Did Not Know About the Foreign Business Act and How the Can Affect Your Bottom Line.”  The panel will explore some of …

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Japan Announces it Will Join TPP Negotiations. Thailand?

"Prime Minister Shinzo Abe plans to announce on Friday Japan's intention to join negotiations for an ambitious trans-Pacific free-trade pact, a move that launches the final—and possibly most important—phase of his economic agenda: long-term growth strategies", reports the 14 March …

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Fitch Updgrades Thailand’s Credit Rating

On 8 March 2013, Fitch upgraded Thailand's long term foreign denominated currency debt one level to BBB+ from BBB.  According to a statement from Bloomberg: "That is three levels above junk and brings it line with Standard and Poor's and Moody's …

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2013 Expected To Be A Record For IPOs

  As the benchmark SET index continues to reach record highs, 2013 is expected to be a record year for IPOs according to the Stock Exchange of Thailand.   Newly listed companies on Thailand's SET and Market for Alternative Investment (MAI) …

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Thai Officials Say FTA with EU will be Concluded in Less than Two Years

A "Thai government delegation [to Europe]" announced that a "Thai-EU free trade agreement will be concluded in less than two years, as part of Thailand's commitment towards free trade and competitiveness enhancement" (bolded for emphasis), a 7 March 2013 front page cover story …

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BOI Soliciting Suggestions on New Investment Policy

Thailand’s Board of Investment (BOI) is soliciting recommendations through 28 February 2013 on a new investment policy for the BOI.  You can submit your suggestions by clicking here. The BOI provides investment promotion incentives to foreign and Thai businesses investing in certain designated activities.  …

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5% Growth Rate Predicted for Thailand in 2013

Thailand's Fiscal Policy Office (FPO), Ministry of Finance, is predicting around 5% growth in 2013.  The FPO's Thailand’s Economic Outlook Projection 2012 and 2013 states that the Thai economy rebounded faster from the floods in 2011 than expected and will have a …

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8-9% Export Growth Target Set for Thailand

Thailand's Ministry of Commerce (MOC) has set a target of 8-9% export growth in 2013.  The MOC says growth in 2013 will be primarily driven by expansion in shipments of automobiles, electrical appliances, rubber products, construction raw materials, canned and processed …

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PriceSanond at AMCHAM Singapore – A Few Pointers on Doing Business in Thailand

On 4 December 2012, PriceSanond partner, Douglas Mancill, made a presentation to the American Chamber of Commerce in Singapore on a few pointers for parties either doing business in Thailand or considering setting up operations in Thailand.  The presentation addressed, among other issues, …

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FBA License approvals up 25 percent

Through the first eight months of 2012, approvals for foreign business licenses under the Foreign Business Act (FBA) were up 25 percent compared to the first eight months of 2011, according to an article in The Nation. A total of 218 approvals …

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PriceSanond @ Two Events in Singapore

PriceSanond partner Douglas Mancill will be speaking at the following two events in Singapore the first week of December: Doing Business in Thailand: A Few Pointers on Investing or Doing Business in Thailand: At the American Chamber of Commerce in Singapore (Legal …

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Shift in BOI Policy to Affect Many Types of Businesses

The Thai Board of Investment (BOI) intends to change the criteria it uses to identify projects eligible for promotional privileges, eliminating privileges for some types of projects while extending privileges to other types of projects.  The BOI provides promotional privileges to companies engaged in projects …

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ICC Says Thai Business Climate Lags

"The International Chamber of Commerce [ICC] has urged Thailand to create a more business-friendly environment or risk falling behind its Asian neighbours,…", reports the Bangkok Post.  The ICC specifically cited the absence of a clear arbitration process to settle disputes, …

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Summary of Restrictions on Foreign Investment Updated

Although foreign investments are encouraged by the Thai government, foreign equity restrictions and Thai participation requirements exist for many businesses. Foreign investment is controlled by a range of legislation, cabinet policies, trade association regulations, laws and other controls. Criminal penalties …

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BOI Reports Investment Up Strong in May

The Board of Investment (BOI) has reported that the number of applications it received in May increased by 64.5 percent over the same month last year, with the value of applications increasing by 54.4 percent. Chemicals, paper and plastics were …

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Thai Economy Recovering Since Last Year’s Floods

For the first time since the floods, factory output has increased in Thailand, according to a report issued by Reuters.  Government officials and many economists are predicting a gradual recovery from the severe flooding that effected Thai industrial production last year.  Bloomberg …

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Hillary Clinton: “Today we say to American business: invest in Burma and do it responsibly”

Since the election of President Thein Sein last year, Myanmar has gradually introduced political and economic reforms.  Internet and media controls have been relaxed, Nobel laureate Aung San Suu Kyi was released from house arrest and her political party was allowed to contest and win seats in parliament. …

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BOI – “Growth in Investment Remains Good”

The Bangkok Post has reported that the Board of Investment (BOI) has already received nearly half of its goal of 600 billion Thai baht in applications for incentives as of the end of April.   Dr. Atchaka Sibunruang, the BOI …

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DSI Specifically Authorized to Investigate FBA Cases

The Ministry of Justice recently promulgated a regulation that expands the authority of Thailand's Department of Special Investigation (DSI) – sometimes described as Thailand's equivalent to the U.S.'s FBI- to investigate, among other matters, foreign business operations.  For example, the DSI now …

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BOI enhances incentives for flood-hit provinces

According to an article in the Nation, the Board of Investment has approved new incentives to promote projects in Ayutthaya and Pathum Thani provinces, which were particularly hard hit by the 2011 flooding in central Thailand. Following the flooding, there …

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New Article on Amity Treaty

We have a new article on the Amity Treaty exception to the Foreign Business Act authored by two PriceSanond lawyers recently published by AMCHAM. To access the article click here.

Dai-Ichi Tokyo Bar Association Visit to Thailand

PriceSanond is proud to participate in and help organize a visit of the Dai-Ichi Tokyo Bar Association to Bangkok.  The visit will include a meeting with the Lawyers of Council of Thailand, a visit to the Civil Court and several dinner receptions between Thai and Japanese lawyers on 19 and 20 March 2012.

Top 10 Legal Issues Facing Americans Doing Business in Thailand

PriceSanond partner, Douglas Mancill, be speaking at an American Chamber of Commerce in Thailand (AMCHAM) program on the Top Ten Legal Issues Americans Face When Doing Business in Thailand at 12 noon on 23 January 2012.  To reserve a seat for this program, please contact AMCHAM. 

DSI Crackdown on Nominees under FBA?

Thailand’s Department of Special Investigation (DSI) says it plans to crackdown on the use by foreigners of proxies or nominees to “operate businesses which are normally off-limits to them [foreigners]” after the agency was given authority to investigate nine more …

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Proposal to Liberalize the FBA

The Ministry of Commerce takes the position that the granting of a loan is considered a restricted activity under Thailand's Foreign Business Act (FBA).  However, on 1 December 2011 by the Deputy Minister of Commerce (Mr. Siriwat Kachornprasart) proposed that …

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Thailand Considering Joining TPP Talks.

Thai Prime Minister, Ms Yingluck, said “Thailand would…consider joining the Trans-Pacific Partnership [(TPP)], a multilateral trade deal described by Mr Obama during the recent Apec Summit in Hawaii as a ‘21st century state of the art’ initiative”, reported the Bangkok …

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Insurance Coverage for Flood Damage

  Typical residential property insurance policies in Thailand do not include flood damage coverage. Although some policies include cover for damage caused by water leakage in their standard product packages, generally those packages specifically exclude flood damage coverage.   In …

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Red Tape Cut Urged for Recovery

Thailand does not have a monopoly on red tape, but it seems to have more than its fair share. Activities that may take a day or two in Hong Kong, Singapore or San Francisco, can take a week or two in …

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Will the Economic Devastation Caused by the Floods Lead to Liberalization of Thailand’s Restrictions on Foreign Investment?

Thailand has expansive and byzantine restrictions on foreign ownership of businesses – far out of line with current international standards. Thailand has also suffered tremendous economic damage from the recent flooding. And Thailand is highly dependent on foreign investment to …

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Thai Chamber Pressing for Free Trade Pacts with US and EU

Citing free trade pacts with other members of ASEAN and worrying that Thailand will fall behind, the Thai Chamber of Commerce “has urged the government to speed up work on free trade agreements (FTAs) with the European Union and the …

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Factory Act Revision Proposed

“The Department of Industrial Works (DIW) plans to revise its Factory Act to make it easier for businesses with good credit, especially in environmental issues, to expand investment”, reports the 3 September 2011 edition of the Bangkok Post.  The DIW …

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Increasing Thailand’s Competitiveness

Suzanne Rosselet, deputy director of the World Competitive Centre, is quoted as saying, “[w]hile [Thailand] has been doing well in basic infrastructure, there are shortfalls in technological and scientific infrastructure, as well as health care and education”, in the 30 …

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