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November 8, 2017

The Asia Pacific Investigations Review 2018 – Thailand Chapter

Global Investigations Review

Thailand is a priority destination for foreign direct investment (FDI) and has enjoyed steadily increasing FDI since the return of political stability in 2014. The current regime has made concerted efforts to consistently improve the country’s appeal as an FDI destination, resulting in an increasingly attractive and modern legal framework.

The steady surge of FDI, and the long-term presence of foreign investment projects, has introduced a number of factors to the regulatory landscape that must be considered by local, regional, and global counsel when doing business in Thailand. The anti-corruption environment in which investors operate is foremost among these, and is the subject of substantial efforts and investment by the government aimed at curbing corruption.

Michael Ramirez, a senior member in Tilleke & Gibbins’ dispute resolution team, addresses these factors and more in the Thailand chapter of The Asia-Pacific Investigations Review 2018, a guide to the important issues in internal and government investigations across the Asia-Pacific, published by Global Investigations Review.

The Thailand chapter of the guide covers corruption, international law and extraterritorial effect, enforcement of bribery laws, whistleblowing, and the impact overseas anti-corruption laws may have on the country.

RELATED INSIGHTS​ 

October 7, 2011
A new notification from the National Anti-Corruption Commission (NACC) is expected to have a significant impact on companies that do business with the Thai government. On August 11, 2011, the NACC issued the Notification re: Rules and Procedures Concerning the Preparation and Disclosure of Revenue and Expenses Accounts of Projects which Individuals or Juristic Entities are Contractual Parties with Government Agencies (Notification).
September 23, 2011
Recent trends showcase a clear intent by two of the world’s global powers to tackle corruption abroad. The United States, through the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), has dramatically increased its investigation and enforcement of the Foreign Corrupt Practices Act (FCPA). In addition, in 2010 the United Kingdom acted aggressively to address an historical weakness in its anti-bribery laws by enacting the UK Bribery Act.
May 12, 2011
In response to regular queries received from our multinational clients, David Lyman, Chairman & Chief Values Officer of Tilleke & Gibbins, has been providing periodic updates on the ongoing political events in Thailand since 2006. This Viewpoint summarizes and updates several of these reports, while providing observations on the Thai political landscape ahead of the upcoming elections.
May 12, 2011
No country is immune to corruption. Corruption and other illicit activities thrive in Thailand today as they have throughout this nation’s long history. According to Transparency International’s latest survey, the level of corruption in Thailand is no worse than it is in many countries. Is it liked? No. Accepted? Yes, but as a repugnant fact of life. Why? Because most people can do little about curbing it so they learn to live with it. Is the government promoting anti-corruption? Lip service, yes. Concrete steps? Very slow, so the jury is still out.