Legal Services & Resources
Up to date legal information pertaining to Thai, American, & International Law.
Contact us: +66 2-266 3698
"Foreigners Can Be Assured that Investment Plans Will Not Be Changed"?
Transcript of the above video:
As the title of this video suggests, we are discussing, well we are discussing foreign investment here in Thailand. I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: The Economy to grow 2.7%, beat forecast, Paetongtarn says. I would urge those who are watching this video, go read that article, it goes in a different direction. I did another, way longer video talking about some issues associated in that article, I urge those who are watching this, go check out that article in detail.
That said, I'm going to quote a small excerpt. Quote: "The Government is confident it will stay in power until the end of its term in 2027." Well yeah, all Governments in Thailand always say stuff like that. FYI. That said, I don't have any reason to disagree with them but just for anybody that is kind of new here, take it for what it is. They always say that regardless of whatever ends up happening. That said quoting further. "And foreigners can be assured that investment plans will not be changed, Ms. Paetongtarn said." And you know, she is right. At the end of the day, it looks to me like we do have a pretty stable Government going here in Thailand. There isn’t a lot of reason to suspect that it would massively change.
Now we could see changes to the Government in terms of who is Prime Minister and filling certain cabinet positions as we saw when Mr. Srettha fell from the office of Prime Minister months back and yeah okay, the Parliament is still open, and they were able to reform a new Government after sitting as caretakers temporarily and then they reformed a new government and kept going. It's possible that could happen too and in fact I think that's very likely regardless of who the faces are that are occupying if you will the Prime Minister chair, the Minister of this or whatever, I think ultimately the Parliament will probably continue sitting all the way till 2027 and that means politically we're looking at an extended period of stability here in Thailand. That said, it is also worth noting and a tip of the hat to the Prime Minister for making the statement to reassure foreigners that yeah, investment law, things like that they're not going to change here and if anybody wanted to have an article of faith in addition to her reassurances, I think it worth noting, Cannabis. Cannabis was a really kind of controversial topic but ultimately it looked to me like it was decided along the lines of “hey consistency, we legalize this; we should sort of stick by that because people detrimentally relied on that. They invested in Thailand; they invested in that sector; they operated in good faith; they held to what they initially did, and they moved on. I think that's very indicative of a continuing attitude here in Thailand of being consistent toward foreign investment and I think moving forward it is likely we will continue to see that. That being said, we will be keeping you updated on this channel as the situation evolves.