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Thailand to strengthen regulations on foreign businesses
Thailand's Department of Business Development (DBD) is set to introduce more stringent regulations for foreign companies operating within the nation. The objective is to create equitable conditions and safeguard domestic enterprises against inequitable competition.
Thailand’s Department of Business Development (DBD) is set to introduce more stringent regulations for foreign companies operating within the nation. The objective is to create equitable conditions and safeguard domestic enterprises against inequitable competition.
Key Takeways
- The Department of Business Development (DBD) in Thailand is intensifying efforts to enforce laws on foreign businesses to ensure fair competition. Director-General Auramon Supthaweethum affirmed close collaboration with law enforcement to ensure compliance, particularly against firms using nominee shareholders to evade the 1999 Foreign Business Act.
- Auramon highlighted the department’s proactive measures to support Thai SMEs amid the rise of online commerce. The DBD has developed nine strategic measures to enhance competitiveness, including expanding online market channels, boosting e-commerce capabilities, and promoting Thai community products.
- Additional initiatives include securing affordable sales spaces, providing essential business knowledge, and digital tools for SMEs. The DBD focuses on integrating business networks, supporting local franchises, and modernizing traditional retail stores to ensure Thai SMEs can compete and grow sustainably in the global marketplace.
BANGKOK (NNT) – The Department of Business Development (DBD) in Thailand is intensifying its efforts to enforce laws governing foreign businesses, ensuring fair competition for Thai entrepreneurs. Auramon Supthaweethum, the Director-General of the DBD, has confirmed the department’s commitment to working closely with law enforcement to ensure compliance, particularly focusing on foreign businesses that may be using nominee shareholders to circumvent the 1999 Foreign Business Act. Violators will face severe penalties as part of these enforcement efforts.
Director-General Auramon also highlighted the department’s proactive approach to strengthening Thai SMEs, especially in the context of the rapid growth of online commerce, which has introduced low-cost products that impact local businesses. To address these challenges, the DBD has developed nine strategic measures designed to enhance the competitiveness of Thai entrepreneurs.
These measures include expanding online market channels, boosting e-commerce capabilities, promoting Thai community products, and securing affordable sales spaces for businesses. Additionally, the department is providing SMEs with essential business knowledge and digital tools. The DBD is also focusing on integrating business networks through initiatives like the MOC Biz Club and supporting the growth of local franchises.
Furthermore, efforts are underway to modernize traditional retail stores, helping them integrate into the broader supply chain. These initiatives are aimed at ensuring that Thai SMEs are equipped to compete and grow sustainably in the evolving global marketplace.
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