Amendment Abolishes Thai-Owned Majority Aircraft Manufacturers

In a move to help boost Thailand’s aviation industry, a recently approved amendment would get rid of the requirement for aircraft manufacturers to be a majority Thai owned.

Kobsak Pootrakool, Deputy Secretary-General of Political Affairs to the Prime Minister said the change will improve foreign investment in Thailand’s aircraft manufacturing and related sectors while increasing its attractiveness as an aircraft center.

Thai Civil Aviation Authority (CAAT) drafted the amendment which aims to encourage investment and technology in the Eastern Economic Corridor (EEC) to match its so-called s-curve industry.

 

“The amendment lifts the restriction that requires the major shareholder to be a Thai aircraft, air navigation company or Thai business, which discouraged foreign companies from investing. … But with the revision of the law, there will be more investment. Thailand will benefit and the benefits will extend from the aviation industry to the automotive industry in the future,” Kobsak said.

Those international companies, however, must retain at least 80% of Thai employees in their workforce for the full 10-year period of the licence.

 

SOURCE: The Nation Thailand

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