Thailand's Foreign Business Act remains intact

BANGKOK, January 13 (TNA) - The Ministry of Commerce confirms it does not have an immediate plan to amend Thailand's Foreign Business Act (FBA), in which foreign investment in the country is promoted. Pongpun Gearaviriyapun, Director-General of the ministry's Department of Business Development, told journalists of the stance on Tuesday. Pongpun explained, after gathering opinions from concerned parties in both the public and the private sectors late last year, her department has decided that the amendment of the FBA is unsuitable this year, as the Thai government is keen to attract foreign investment to boost the national economy. Pongpun noted that some regulations in the FBA will be, however, reviewed and relaxed to promote foreign investment in the country. The senior official stated that control on foreign business under the FBA will be continued, focused on shareholding structures of foreign parties as before.(TNA)