Thailand to liberalise more service sectors this year
The Commerce Ministry of Thailand is planning to liberalise 10 service sectors this year, including telecom, treasury centre, and currency exchange services.
Bangkok (VNA) - The Commerce Ministry of Thailand isplanning to liberalise 10 service sectors this year, including telecom,treasury centre, and currency exchange services.
Studiesto liberalise eight sectors have been completed, and the ministry’s BusinessDevelopment Department is preparing to open public hearings for the remainingtwo soon, said Director-General of the department Auramon Supthaweethum.
Once the public hearings on the remaining two sectorsare completed, the department will submit them to Commerce Minister PhumthamWechayachai for approval before presenting them to the cabinet for finalapproval, she noted.
The official said the 10 service sectors are onList 3 of the 1999 Foreign Business Act. Following the cabinet’s approval,foreign businesses in Thailand operating in these services will no longerrequire permission under the law.
The act identifies three lists of activities inwhich foreign participation may be prohibited or restricted.
Activities on List 1 are the ones in whichforeigners are not permitted to operate for "special reasons".
List 2 covers the businessesrelated to national safety or security, or affecting arts and culture,traditional and folk handicraft, or natural resources and environment. Foreigncompanies may only engage in the activities stated in List 2 with prior cabinetapproval.
Activities on List 3 are those in which Thainationals are not yet ready to compete with foreigners. To engage in activitieson List 3, a foreign company must apply for and obtain a foreign business licensebefore starting operations.
In previous years, the Commerce Ministry issuedregulations to exempt certain service sectors from the requirement of obtainingpermission under the act.
This year, the sectors expected to be liberalised include telecom, treasury centre, currencyexchange, and software development services, Auramon added./.
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