THE CABINET today (July 15) approved the draft Financial Hub Act B.E…. after the Council of State completed reviewing the legislation with this to be immediately forwarded to the House of Representatives for the first reading, Amarin TV said.
Deputy Finance Minister Paopoom Rojanasakul said this new legislation, consisting of nine sections and 94 articles and aimed at making Thailand a regional financial centre, overhauls the licensing process and supervision of businesses to make it conducive for business operation while attracting investment.
A main agency will set the policies to promote Thailand as a Financial Hub and develop the financial industry ecosystem, both in terms of personnel and infrastructure, to meet the needs of global financial companies.
A new agency, to be called the Office of Financial Business Commission, will be established as a one-stop authority specifying the qualifications of business operators and the mechanism for requesting permission while detailing the benefits to attract investors, including effective and internationally-acceptable supervision guidelines.
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Representative images of investment. Top image by Gerd Altmann from Pixabay, Front Page images by Pete Linforth from Pixabay
Insert: Deputy Finance Minister Paopoom Rojanasakul. Photo: Amarin TV
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