Published on October 18, 2005

The government must reveal the details of the Alien Business Act or Thai consumers would be hurt, manager of Foundation for Consumers, Sairung Thongplon said yesterday.

The Cabinet had been due today to consider a Commerce Ministry proposal to further liberalise the Alien Business Act but the amendments were withdrawn from the agenda yesterday amid disapproval from academics and consumers.

Sairung said she was concerned if the amendments were approved Thai consumers would be disadvantaged because all 20 law-related businesses are at the heart of Thai business.

She said in banking, when a consumer takes out a loan and pays interest it would mean they are paying money to a foreign country. In pawnshops, Thais exchange their assets for money. If they can’t pay on time their assets will be lost to foreigners.

However, Sairung said these examples were not as important as the possibility that if an alien business had a problem the Thai government could subsidise them with taxpayers’ money.

She said if a foreigner set up a private school they would receive subsidies equal to a Thai school, following the Alien Business Act. “Foreigners will refer to the law when they see they are disadvantaged and claim if an alien business can’t subsidised, then a Thai business can’t either,” Sairung said, adding Thai students would lose educational opportunities.

“Deputy Prime Minister Wissanu Krea-ngam knows this law is one way to strike the Free Trade Agreement deal with the United States, which both countries will negotiate in January,” she said.

The Alien Business Law allows non-residents to do business in 20 areas of financial services without having to obtain a licence or any regulatory approval.

Sucheera Pinijparakarn

The Nation

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