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Thailand Proposes Stricter Foreign Investment Laws 
Posted on Thursday, August 09, 2007 - 09:00 PM

Thailand's government is revising a controversial bill to tighten foreign investment rules. The draft Foreign Business Act was among the most contentious economic policies proposed by the government.

It would limit foreigners to holding no more than 49 percent of the shares or the voting rights in Thai companies, raising concern about a threat from economic nationalism among the foreign business community here.

The government argued that the law was necessary to close loopholes in Thailand's investment regulations that critics contend have been used to allow foreigners to control key industries such as telecoms and media.