National —
On August 19th, 2024, Thai national media reported that the Ministry of Commerce is advancing efforts to address the impact of foreign investments, particularly from Chinese capital, on Thai businesses.
Chinese investors have reportedly been using a comprehensive strategy that includes importing low-cost goods, launching sales platforms, and investing in their own warehousing and distribution systems in Thailand.
On August 23rd, the Department of Foreign Trade will hold a meeting with 12 agencies, including service and logistics businesses, as well as relevant government and private sectors, to discuss short-, medium-, and long-term measures to protect and manage these impacts.
One of the urgent measures to be discussed is a proposal for the Ministry of Digital Economy and Society (DES) to regulate foreign business platforms, ensuring product quality and safety, as well as pricing. The meeting will also address the possibility of imposing import taxes and non-tariff measures.
The growing concern is that foreign investors are increasingly lowering prices and taking over businesses in Thailand, potentially leading to more severe challenges in the future. While addressing these issues, the ministry emphasizes the importance of enforcing existing laws and potentially introducing new regulations to manage foreign platforms operating in the country.
