Foreign investment to be liberalised with shakeup of law

The Commerce Ministry plans to simplify business registration by removing 10 service businesses from List 3 of the Foreign Business Act, aiming to increase investment in the country.

- PHUSADEE ARUNMAS

Auramon Supthaweethum, director-general of the Department of Business Development, said the ministry reviewed service businesses on List 3 to keep pace with changing economic conditions.

On April 22, the cabinet approved an urgent amendment of the Foreign Business Act of 1999 to remove business barriers and enhance Thai competitiveness. The department plans to address shareholding limits and business types, while engaging with relevant private sector stakeholders, said Ms Auramon.