The Thai government has issued a new proposal to restrict foreign control over joint-venture companies in Thailand. The change, which would be made to the Foreign Business Act—an Act governing activities of foreign businesses in Thailand—has provoked widespread concern among foreign business chambers, embassies, and foreign investors.
David Lyman, Chairman and Chief Values Officer at Tilleke & Gibbins, was interviewed by the Bangkok Post newspaper for his views on the proposed change, and his remarks were included in an online article titled: “Foreign Firms Fear Tighter Restrictions.”
David said that if the proposal was adopted, there would be dire consequences for Thailand’s foreign investment environment and the economy in general. “The stated policy of the government is to rebuild confidence in the country and to expand Thailand’s reach and GDP, not to contract them, which would indeed happen,” David said.
The Bangkok Post is a widely-circulated newspaper based in Bangkok, Thailand. If you would like to read the full article, please visit the Bangkok Post website.