PRESS RELEASE:
The Ministry of Commerce is intensifying its crackdown on nominee businesses operated by foreign nationals in Thailand. The directive, issued by Prime Minister Paetongtarn Shinawatra, seeks to address economic disruptions and illegal activities linked to these enterprises.
Often tied to criminal networks, such businesses have been accused of defrauding Thai citizens and undermining local entrepreneurs. Commerce Minister Pichai Naripthaphan has been tasked with leading a committee to devise measures against unlawful foreign enterprises and substandard products.
To tackle the issue, two subcommittees have been established: one to focus on preventing and suppressing nominee businesses and another to support Thai SMEs while regulating foreign goods. A key meeting, scheduled for December 9, is set to accelerate the implementation of short- and long-term measures to safeguard Thailand's business environment and protect local enterprises.
Recent enforcement operations by the Department of Business Development (DBD) and the Central Investigation Bureau (CIB) targeted 46 locations, exposing violations committed by 442 legal entities with a combined registered capital of 1.189 billion baht. These entities, operating in sectors such as retail, tourism, cryptocurrency trading, and real estate, were found to be involved in activities such as online scams, money laundering, and other cybercrime.
A Memorandum of Understanding, signed recently between the two agencies, integrates business registration data with the CIB's Big Data system to enhance monitoring and identification of suspicious entities.
The preceding is a press release from the Thai Government PR Department.
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