Telecommunications, financial services to be liberalised

After the Cabinet’s approval, foreigners can engage in the liberalised businesses without the need to obtain permits.

In recent times, the ministry has issued regulations to specify unlicensed service businesses for foreigners, with the most recent announcement made in 2019. Businesses that are now allowed to operate freely include commercial banking, life insurance, non-life insurance, in-country lending services, the securities business, and other businesses related to securities and stock markets, and forward trading.