New Thai investment Act to trigger WTO fight

Font Size

Print

Feedback

Email

Discuss

Related Articles

WTO negotiators’ meet in Geneva on Sep 14EU seeks to settle trade row with India amicablyWTO DDG tight-lipped on bio-fuel, rising prices

Bangkok, Aug 7: as a sound international investment destination. The restrictions apply to highly sensitive sectors such as broadcasting, agriculture and armaments, as well as a wide range of services, including finance, retailing, telecommunications and hotels and tourism.

The National Legislative Assembly, a rubber-stamp parliament appointed after the coup, debates the bill on Wednesday and is expected to pass it late in the day. Reaction on the stock market -- which could be harsh if foreign investors see it as another sign of nationalism taking hold of policymaking since the coup -- will be delayed until Thursday.

Foreign businessmen in Thailand have complained about being shut out of all consultations on the revisions, which finally emerged from vetting by a parliamentary subcommittee on Monday. Despite their appeals, the committee refused to water down any of the major proposals in a draft approved by the cabinet.

One concession was to give foreign-controlled companies in the sensitive media, agricultural, mining and logistics sectors three years, rather than two, to adjust their share structure -- or "hand over the keys to Thais", as the second diplomat put it. Existing companies in the service sector will be allowed to keep their shareholding structure under an amnesty clause.