Page 40 - Introduction to Investment Laws in Thailand

Policy Commission, the Policy Commission shall have the power
to order revocation of rights and benefits granted to such
promoted person.

For the purpose of the execution of this Act, the
provisions of Chapter VI, Revocation of Rights and Benefits,
under the law on promotion of investment shall apply to the
revocation of rights and benefits under paragraph one mutatis
mutandis and it shall be deemed that the powers and duties of the
Board of Investment are the powers and duties of the Policy
Commission under this Act."

From the above section 23-27 of the Competitiveness Enhancement
for Target Industries Act B.E. 2560 (2017), the investment from foreign
and local investments will enjoy investment incentives. The brief lists of
the investments that can apply for incentives according to the
Competitiveness Enhancement for Target Industries Act B.E. 2560 (2017)
are manufacture of food products, beverages and tobacco products,
manufacture of chemicals and chemical products, manufacture of
computer, electronic and optical products, and electrical equipment,
manufacture of machinery and equipment, manufacture of transport
equipment, other manufacturing which relates to research and
development on scientific research and development, human health
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activities, arts, entertainment and recreation.

2.2 Law on Foreign Business
Thailand passed specific laws on foreign business to govern foreign
business. The Foreign Business Act, B.E. 2542 (1999) was enacted to limit
the right of foreigners to engage in certain business activities in Thailand;
it also defines the term "foreigner" and categorizes restricted activities into
three lists.

42 Ibid

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