ANNOUNCEMENT 16 Nov 2009In November 2009, the government of Thailand announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Effective 16 November 2009, Thailand's Board of Investment, as per Announcement No. Sor 1/2553, introduced the condition that in order to obtain incentives for investments in "Plant propagation & development" for plants indigenous to Thailand such as rice, orchids, fruits and herbs, the project must require not less than 51% ownership by Thai nationals.
According to the Announcement, the measure was implemented to protect Thai entrepreneurs from foreign investments under the ASEAN Comprehensive Investment Agreement.