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Thailand to tighten regulations on foreign businesses

The Department of Business Development (DBD) in Thailand is stepping up efforts to enforce laws governing foreign businesses, ensuring fair competition for Thai entrepreneurs.

Illustrative photo (Photo: pattayamail.com)

Bangkok (NNT/VNA) – The Department of Business Development (DBD) in Thailand is stepping up efforts to enforce laws governing foreign businesses, ensuring fair competition for Thai entrepreneurs.

Auramon Supthaweethum, Director-General of the DBD, has affirmed the department’s commitment to collaborating 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.

Auramon also highlighted the department’s proactive approach to strengthening Thai SMEs, especially in the…

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