Cabinet moves to ease foreign investment rules in 8 service sectors

The Cabinet has agreed, in principle, to amend the Alien Business Act to exempt foreign businessmen from having to seek permission from the authorities to invest in eight service businesses.

These include:

· Telecommunications (without its own network).

· Financial administration.

· Internal network business administration.

· Domestic debt guarantee.

· Oil drilling.

· Lending business with securities as guarantee under the Securities Act and the Derivatives Act.

· Brokerage, trading, consultancy business or fund management of derivatives which are not covered by the Derivatives Act.

· Space leasing for the installation of electronic equipment and automatic vending machines.

Deputy government spokesperson Patdarasm Thongsaluaykorn said that the Cabinet agreed to ease restrictions because Thai business people are now capable of competing with their foreign rivals.