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Thailand: E-commerce laws to be amended: Finance Minister

  • Aug 28, 2019
The Finance Ministry is looking at amending e-commerce laws to increase business opportunities for local and foreign investors looking to invest in the e-commerce industry.

“Thailand will pursue greater connectivity economically in the Asean region through public-private partnership infrastructure projects and strive to become the central economic, transportation and innovation hub of the region,” said Uttama Savanayana, Finance Minister, who was speaking today at the Thailand Focus 2019 organised by the SET.

Going forward, the Thai government will be looking at regulatory reform to increase the ease of doing business in Thailand which will promote investment in the country, he said.

For instance, the Finance Ministry is looking to make amendments to the current e-commerce law in order to improve the law’s transparency and clarity for investors. This will increase the ease of doing business in e-commerce and encourage more investments into the industry, he explained.

Meanwhile, he also revealed that the Board of Investment is looking into new mechanisms to promote investment in Thailand.

“The Thai government welcomes foreign investments in the government’s mega infrastructure projects. We believe we can benefit from the expertise of foreign investors and local private businesses in cooperating with the government,” he stated.

The government will also be embracing new technology, such as promoting the use of electronic systems in government administration processes such as tax payment, he said.

Furthermore, he continued, the Thai government has been active in trying to cushion Thailand’s economy amid declining global economic growth.

Uttama stated that as Thailand’s economic growth has been decelerating in the past 7 months, the Bt316 billion stimulus package is meant to stimulate domestic spending and restore investors’ confidence in the country.

Finally, the Finance Minister stressed that the current government places great importance on maintaining financial discipline in the country, mentioning the government’s determination to follow the Fiscal Discipline Act of 2018.

Source: https://www.nationthailand.com/business/30375494