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Thailand'S New Official Business Joint Venture Law Was Approved By The People'S Association In May.

2011/3/11 17:08:00 69

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Thailand Chamber Of Commerce And Commerce

According to Thailand World Daily reported on March 10th, chief executive of the Thailand state owned enterprise policy committee, Mr soon guessing, called on the government departments concerned.

State-owned enterprise

To hold a forum on the draft law on joint ventures, to hear the views of the parties on the draft so as to discuss the amendment at the cabinet meeting in March and submit it to the Legislative Council for deliberation. It is estimated that it can be submitted to the Council for approval in May.

The new official business joint venture law amended many provisions to make the law more flexible and more adaptable to the current economic situation. The new draft made clear the calculation method of project investment value, eliminated loopholes in the law, reduced the time of project approval, reduced from 48 months to 12 months, and set up a project development fund, and the source of funds is still under study.

Finance minister Nai Gong said that for the first time, an official forum was held to discuss the draft of the joint venture law, explaining the reasons and reasons for the revision of the law, and attracting private participation in investment is the main driving force for economic development, which can reduce government budgetary expenditure and raise the efficiency of capital use.

At the same time, drawing up a new draft will also help to make the investment process more pparent.

In the future, there will be many large projects, such as water conservancy projects, estimated to invest 1 trillion and 700 billion baht, and 4 years of railway system development projects.

Investment

170 billion baht, and the construction of high-speed railway projects with China.

The government needs to increase the budget of 200-400 baht every year to promote the project, which leads to the reduction of the government's investment budget. Therefore, the government and business joint venture law is revised to reduce the demand for cooperation, and the government financial pressure can be reduced.

Financial economy

Carney, director of the Policy Research Institute, said that in the past 6 or 7 years, the large-scale investment projects in Thailand were slow to move forward, because the legal provisions were not clear, leading to a slowdown in private investment. If the law did not solve the problem, it would affect the economic development.

The new joint venture law is expected to enhance the confidence of private investment. In addition, bank loans and government budgets can attract private enterprises to participate in investment.