Commerce authorities see foreign investors more confident of Thailand

NONTHABURI, Dec 20 (TNA) -- The director-general of the Intellectual Property Department said Thailand improved its image and drew better confidence from foreign investors as the United States recognised its effective work to protect intellectual property. Tossapon Tangubut, the director-general, said the improved situation happened as the US moved Thailand from its Priority Watch List to Watch List. The confidence in Thailand’s protection of intellectual property boosted investment potential in Thailand and should draw investors from the US and other countries, he said. He said the US is satisfied as intellectual property protection becomes a national mission and senior authorities seriously suppress pirate products. Besides, Thailand is improving its registration of patents and trademarks. The better status in the Watch List would significantly support the growth of economy, trade and investment and promote income distribution, national competitiveness and the application of intellectual property in the country, he said. Mr Tossapon also said that the Intellectual Property Department was drafting an amendment to a patent law to improve procedures for patent registration. The amendment includes the reduction of a period for patent verification from five years to three years. (TNA)