Thai Finance Minister Chalongphob Sussangkarn said in a recent interview that Thailand's proposed amendments to the Foreign Business Act are too extreme and should be weakened. The proposed changes, which restrict overseas investment, voting rights in companies and the use of local nominees to circumvent limits, are being revised and should affect fewer sectors, Chalongphob said. The government was under social pressure to crack down after the sale of Shin Corp. to investors led by Singapore's Temasek Holdings, he said. Rather than toughening the Foreign Business Act, Chalongphob said the administration could have simply tightened the Telecom Act and avoided scaring away investors.
Bloomberg
Bloomberg