Commerce probes 329 Chon Buri, Prachuap firms for 'nominee' violations
The Commerce Ministry has found 329 companies in Chon Buri and Prachuap Khiri Khan that are suspected of breaching the Foreign Business Act (FBA) by having Thais acting as nominees so that foreigners can hold majority control.
Of the total, 303 are in Chon Buri and 26 in Prachuap Khiri Khan, Deputy Commerce Minister Natthawut Saikua said Monday.
Of the 26 companies in Prachuap, two have confessed to the charges - a real-estate agent and a tailor.
Of the 303 companies in Chon Buri, 20 operate businesses listed in Appendix III of the FBA covering those in which Thais are not yet ready to compete with foreigners.