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? References in periodicals archive |
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Changes to the 1999 Foreign Business Act now require all international retailers to request permission for expansion activities, while multinationals are also required to reduce their shareholdings in their retail entities to under 50%. Since the coup, Thailand's appointed cabinet has made several
decisions that have irked foreign investors, including slapping
capital controls on foreign funds in December, last year, tightening
up the Foreign Business Act to clog former loopholes and allowing
compulsory licensing for two anti HIV/AIDS drugs and one
heart-disease drug. Since then its military-appointed government has implemented
several measures that have spooked the foreign business community,
including imposing capital controls in December and proposing
amendments to the Foreign Business Act in January that will block
certain loopholes that allowed foreigners to control local
investments without holding majority equity. |
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