The Foreign Business Act (FBA) amendments proposed by the previous military-backed government will not be pursued by the current administration, said Suwit Khunkitti, the deputy prime minister and industry minister.
Mr Suwit offered the reassurance in an address to the Asia and Europe Partnership and Opportunities luncheon held yesterday by the Belgian-Luxembourg/Thai Chambers of Commerce.
He said the Samak Sundaravej government would do everything to ensure convenience for foreign investors.
''The FBA amendments would create unfavourable investment conditions in Thailand, and it is not possible for the government to touch the act when it wants foreign investors to help GDP growth reach the 6% target,'' Mr Suwit said.
The previous government had sought to toughen the FBA and its enforcement because of what it saw as abuses of loopholes through the use of Thai nominees by foreign businesses.
The amendments, which died when the government's term expired, could have forced thousands of foreign companies to restructure their business ownership, which prompted widespread frustration in the foreign business community.
Someone said at that last property association meeting that the 90 year lease thing has gone through 2 of the 3 government readings/votings, or whatever it goes through.
Can't remember who it was, will ask at next one and see how they know.
will open the doors completely!