The Commerce Ministry’s Department of Business Development (DBD) will propose that the Cabinet modernize the Foreign Business Act (FBA) and get Thailand ready for the seamless ASEAN market.

The amendment will focus on concession in order to provide fair competition for Thai and Foreign Business Investors. Furthermore, this will facilitate business growth, and eliminate the nominee issues.

Under the amended law, there will be streamlining of business regulations and foreigners will find the Thai environment more conductive to investment.

In addition, Thailand will be capable of competing under the coming regional integration, which will allow investors from the ASEAN countries to own up to 70 percent of certain service businesses.