Entries Tagged 'Money' ↓

It will become tougher for foreigner to have companies in Thailand people will start running for the closest Thai lawyer today.

The Foreign Business Act will impact how people in invest in Thailand.
The FBA outlines three lists that define the sectors that are subject to the law. List One, which includes media, land trading and agriculture, is prohibited outright to foreign companies. List Two which includes weapons manufacturing, land transport, mining and handicrafts, is restricted to up to 75% foreign ownership with cabinet approval. Companies in List Three, which deals with services and professional occupations, can be up to 100% foreign-owned with approval from the Commerce Ministry.
The current FBA defines a company as foreign if 50% or more of its shares are held by foreigners. The government draft would expand the definition to include firms where 50% or more of the voting rights are held by foreigners.

Some people think it will have a great impact on the Thai currency and the Thai stock market the next few months will tell us how much. Maybe the new government will change the law over again.

It is about 10 years the Asian Tiger took a deep crash and it all started in Thailand. The banks have given out loans too much and to easy to people that want to speculating in housing and other project and people even took personal loans to invest. The Asian Tiger was really a small kitty cat and when people saw that the Thai currency went on a rollercoaster ride. Now 10 years later we can see the same thing in China with empty apartment complexes and empty shopping malls.

Even Thailand does not listen to what happened before the market is really like a bubble and people are speculating that the price will go up all the time just because some broker tells them that all the apartments in Bangkok are full. The banks should really be more careful with secured loans to people that want to speculate in the property market.

The Thai exporters (and me) are crying foul play when the experts now say that without the government intervention that Thai Baht should be 30 THB for 1 USD. Also the customs department has lost 3 billion THB only this year.

The government sees no reason to intervene and want the THB to let have its course meaning the Thai exporters will be weaker against the Chinese for example and currency that is much underrated. But something similar to what the Chinese government is doing does not interest the Thai military junta their idea is that the more people want the THB better and higher it will be, very good comment of the BOT chairman. Lets hope that the Bank of Thailand chairman knows more about money then the IT minister of Thailand knows about websites.

The magnifying affect on the value of money in different locations.

If you go to Pattaya beach road the motorbike taxi will charge you 100 THB for a short trip and if you walk one road up little less and so on. The further you go in Pattaya and the less western people you see the less the price.

When I take motorbike taxi from my house it’s only 50 THB because there are no western people living here and they are almost shy and ask you for money. When I want to go back from World Trade the price has more then double and not because it’s longer (its shorter) it’s just because that’s a western populated area.