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Aviation Industry More Open to BOI Promotion in Thailand

Transcript of the above video:

As the title of this video suggests, we are discussing BOI, Board of Investment.  We are also discussing some recent developments with respect to some relaxation to the laws pertaining to foreign ownership in the Aviation Industry here in the Kingdom of Thailand. 

In a recent article from the Bangkok Post, bangkokpost.com, article entitled Draft Air Navigation Bill Progresses.  The date is December 26th, 2018, quoting directly "The cabinet on Tuesday approved a Draft Bill for the Air Navigation Law allowing foreign investors who win Board of Investment promotional privileges to own up to 100% of shares. Three categories: aircraft manufacturing, aircraft parts manufacturing, and maintenance repair and overhaul for aircraft will be allowed to enjoy 100% foreign ownership under the draft bill, said an advisor to the Prime Minister's Office."  

So what does this mean? Well let's be clear. It's not completely open.  It requires BOI approval and BOI promotion but if a company manages to win BOI promotion associated with aviation, then there could be some substantial benefits to be had. This is something of a departure from the overall policy especially with respect to transportation and transportation services here in the Kingdom which has always been rather tightly regulated, especially with respect to foreign ownership issues.  So this is not something that should be taken lightly. 

As discussed in other videos on this channel and I urge those who are interested, both read this article that I mentioned as well as check out the other videos on this channel with respect to BOI promotion specifically, but that being said, this isn't just sort of a throwaway development. This is something I think is pretty important in a grander scheme of things because it's clear that Thai Officials are trying to encourage foreign investment, especially within key aspects of the economy, and aviation has been targeted as one such aspect of the economy that would benefit from foreign investment.   Even the Treaty of Amity here in Thailand restricts certain things associated with transportation.  So this is a major development. BOI promotion with respect to this issue can have substantially beneficial impact on companies that are wishing to do business here or companies already doing business here.  

So I would urge those that are watching this video, that are interested in this topic, to go ahead and contact a legal professional and get some more information with respect to the possible benefits and make their decisions from there based on whether or not they want to go ahead and perhaps invest in the Kingdom, especially the Aviation Industry.