Foreign Business Act to be Liberalized
The Foreign Business Act (FBA) is the Thailand legislation which forbids foreign individuals or foreign-controlled entities from operating certain businesses which appear in restrictive lists. List 3 of the FBA shows businesses which are strictly limited to Thais. Over the next three years, the Deputy Commerce Minister has stated that the current government plans to remove up to 13 restricted businesses from this List 3 in order to comply with liberalization requirements in certain free trade agreements. These proposed 13 business sectors include engineering, construction, brokerage and agency businesses, retailing and wholesaling, advertising, hotels, food and beverage retailing, computer services, logistics and domestic transport, business consulting and management services, schools, entertainment and cinemas.