A street in Bangkok, Thailand (Photo: AP) Studies to liberalise eight sectors have been completed, and the ministry’s Business Development Department is preparing to open public hearings for the remaining two soon, said Director-General of the department Auramon Supthaweethum.
Once the public hearings on the remaining two sectors are completed, the department will submit them to Commerce Minister Phumtham Wechayachai for approval before presenting them to the cabinet for final approval, she noted.
The official said the 10 service sectors are on List 3 of the 1999 Foreign Business Act. Following the cabinet’s approval, foreign businesses in Thailand operating in these services will no longer require permission under the law.
The act identifies three lists of activities in which foreign participation may be prohibited or restricted.
Activities on List 1 are the ones in which foreigners are not permitted to operate for "special reasons".
List 2 covers the businesses related to national safety or security, or affecting arts and culture, traditional and folk handicraft, or natural resources and environment. Foreign companies may only engage in the activities stated in List 2 with prior cabinet approval.
Activities on List 3 are those in which Thai nationals are not yet ready to compete with foreigners. To engage in activities on List 3, a foreign company must apply for and obtain a foreign business license before starting operations.
In previous years, the Commerce Ministry issued regulations to exempt certain service sectors from the requirement of obtaining permission under the act.
This year, the sectors expected to be liberalised include telecom, treasury centre, currency exchange, and software development services, Auramon added./.
VNA
