Mrs. Aromon Sapphaweetham, Director-General of the Department of Business Development, Ministry of Commerce, revealed that tomorrow (30 Oct), the committee on management and solutions for foreign products and businesses that violate the law, chaired by Mr. Pichai Naripthaphan, Minister of Commerce, will hold its first meeting. The important agenda will be the supervision of substandard foreign products flooding into Thailand, including measures to promote Thai SME products to be competitive.
Due to the arrival of foreign e-commerce platforms, society is concerned that domestic consumers will receive substandard products that flood into the country for sale via online platforms, which will affect Thai consumers and SMEs. The Prime Minister is concerned about this problem and has ordered the Ministry of Commerce to help solve the problem by driving it through the mechanism under the Executive Committee for Managing Problems with Foreign Products and Businesses That Violate the Law to take proactive steps to mo
nitor and expedite measures to solve the problem so that tangible results can be seen quickly and the goal is to have clear progress within 3 months. As for what measures will be implemented, we will have to wait for the resolution of tomorrow’s meeting.
The Director-General of the Department of Business Development also revealed the progress of the investigation into businesses that are nominees or allow Thais to hold shares on behalf of foreigners to avoid requesting permission to operate a business under the Foreign Business Act B.E. 2542, that in 2567, the department has a target to investigate more than 20,000 juristic persons in 4 business groups: tourism and related businesses such as restaurants, food shops, tours, real estate and land trading businesses, hotels and resorts, and transportation and logistics businesses operating in 6 provinces: Chiang Mai, Chonburi, Phuket, Prachuap Khiri Khan, Surat Thani, and Bangkok. After investigating and screening, it was found that 498 of them were likely to be
nominees. An in-depth investigation was conducted, visiting the locations and financial statements, and no irregularities were found in 424 cases. 70 cases were found to be at risk because they did not clarify their accounting or financial statements or violated the Accounting Act. Therefore, they were sent to the Revenue Department for investigation. Meanwhile, 4 companies found to be foreign nominee companies were sent to relevant agencies for legal action to expand the investigation. Including the investigation into a major Chinese real estate company that is building a luxury mansion on the banks of the Chao Phraya River in Nonthaburi Province.
In addition, the department is working with the Cyber ??Police, the Anti-Money Laundering Office, and the Ministry of Digital Economy to investigate companies that are registered as legal entities that are suspected of being mule accounts for online gambling websites or may be fraudsters, in order to take legal action. -517-Thai News Agency
Source: Thai News Age
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