June 03, 2014 00:00
By Watchara Pussayanawin,
The list of the new members of the Board of Investment is expected to be presented for consideration to the National Council for Peace and Order tomorrow.
The new board is expected to completely clear the backlog of projects worth Bt700 billion that had applied for investment incentives within two months.
Air Chief Marshal Prajin Juntong, the junta’s economic chief, said after delivering a policy speech to the Industry Ministry yesterday that the ministry’s urgent task is to appoint the new BoI after the old board was dissolved following the May 22 coup.
The ministry would reduce the time to obtain a Ror Ngor 4 permit from the Industrial Works Department to open a factory to 30 days from 90 days.
An information centre will be set up this week to let investors know what they have to do to be eligible for the permit.
The NCPO has already submitted its five-pronged strategic plan to the ministry to follow, including the improvement of the investment environment, the enhancement of competitiveness and the promotion of green industries.
Seven private-sector organisations will also propose to the NCPO this week revisions of laws that make it difficult to do business in Thailand, said Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organisations.
The working committee of the seven organisations is collecting information for presenting to the NPCO after it asked the organisations if they have any recommendations for legal reforms to make running a business in Thailand much smoother.
The Thai capital market will also ask the junta to relax the regulations governing the entry by foreigners to work or operate a business in Thailand.