On June 1, 2025, Thailand’s Office of Central Company and Partnership Registration under the Department of Business Development (DBD) opened a public consultation on a draft notification introducing new documentation requirements for the registration of partnerships and limited companies with foreign participation.

The draft targets two key cases:

1. Thai-foreign mixed ownership: When a partnership or limited company includes foreign nationals as shareholders or partners holding less than 50 percent of total capital contributions or registered capital.

2. Foreign directorship without foreign shareholding: When a limited company has no foreign shareholders but includes a non-Thai national as an authorized or co-authorized signatory (i.e., a director with signing authority on behalf of the company).

In either case, the DBD would require each Thai partner or shareholder to submit financial evidence proving their capital contributions, specifically matching their declared equity share in the company. This is to verify that the Thai nationals are the true economic contributors, not acting as nominee shareholders for foreign interests.

· The required financial documentation must be in one of the following forms:

· Bank-issued financial confirmation letters attesting to the shareholder’s financial status.

· Copies of bank statements covering the past six months.

· Tax documents, including:

· Form Por Ngor Dor 90 or Por Ngor Dor 91 (for individual shareholders), or

· Form Por Ngor Dor 50 or Por Ngor Dor 51 (for corporate shareholders).

Other supporting documents clearly demonstrating the source of funds used for the capital contribution.

The initiative is seen as a measure to prevent nominee arrangements, which are often used to circumvent Thailand’s foreign ownership restrictions under the Foreign Business Act (1999).

The public hearing will remain open until June 20, 2025. After this period, the draft may be revised before becoming a binding regulation. [Tilleke & Gibbins]

Thai prosecutors have formally arraigned China Railway No. 10 (Thailand) Co. Ltd., its Chinese director, and three Thai nationals in connection with the March 28, 2025 collapse of the State Audit Office (SAO) building in Bangkok, which killed 89 people and left seven missing. The company, which partnered with Italian-Thai Development Plc in the THB 2.1 billion (USD 57 million) contract, is accused of illegally operating a construction business reserved for Thai nationals by using a nominee structure. Chinese executive Zhang Chuanling allegedly held 49 percent of the shares, while three Thai nationals held the remaining 51 percent. Another Chinese executive, Wu Bing Lin, remains at large. [Bangkok Post 1]

The Department of Special Investigation (DSI) has also implicated about 70 state officials, including former and current SAO executives and members of 10 design, construction, and inspection committees, in bidding collusion and procedural manipulation related to the project. According to the DSI, the terms of reference were deliberately modified to favor a company within the PKW joint venture—comprising PN Synchronize, KP Consultants and Management, and W and Associates Consultants—allowing it to win the design and inspection contracts.

Investigators found that construction inspections were never carried out, a key factor in the building’s structural failure during tremors from a 7.7-magnitude earthquake in Myanmar. The DSI has forwarded its findings to the National Anti-Corruption Commission (NACC), which alone has the authority to pursue misconduct charges against the state officials involved. [Bangkok Post 2]

Irregularities in the SAO project date back to 2009, with the NACC having already found grounds for charges against former auditor-general Khunying Jaruvan Maintaka and others. [Bangkok Post 3]

The European Union has designated Thailand as a “low-risk” country under its Deforestation-free Regulation (EUDR), a move expected to ease the export of Thai agricultural commodities such as coffee, cocoa, palm oil, soybeans, rubber, and timber to EU markets. The classification signals that Thai exports are unlikely to be linked to deforestation or illegal land use, allowing producers to benefit from reduced documentation requirements and simplified regulatory compliance.

The Ministry of Agriculture and Cooperatives, which coordinated closely with the EU in preparation for the EUDR, has supported local producers through public outreach and technical assistance to improve traceability and sustainability practices. The new status is expected to enhance Thailand’s agricultural competitiveness in Europe by lowering trade barriers tied to environmental standards. [The Nation]

Thailand’s Excise Department has launched a new initiative to improve the safety and quality of community-produced alcoholic beverages by deploying mobile laboratories in three provinces. The "Community Liquor Lab on Wheels" program, announced by Deputy Finance Minister Paopoom Rojanasakul on June 5, will offer free alcohol quality testing in Lampang, Sakon Nakhon, and Songkhla—regions with widespread local liquor production.

The mobile units will analyze alcohol content, product classification, and screen for harmful substances such as methanol, arsenic, and lead. They also serve an educational role by raising awareness about safety regulations and quality standards. Previously, producers had to rely on centralized testing facilities in Bangkok, limiting access in rural areas.

The initiative aims to support Thailand’s 2,119 registered community alcohol producers by enhancing public health and boosting confidence in locally made products. [Bangkok Post]

Thai authorities have arrested a Chinese national wanted on an Interpol Red Notice for alleged money laundering involving CNY 339 million (approximately USD 47 million). The 55-year-old suspect was detained in a house in Li district, Lamphun province, under a temporary arrest warrant issued by Thailand’s Criminal Court on May 19.

The man is accused of operating through a company in China to launder funds, though details of the scheme remain undisclosed. His arrest followed a formal request from the Chinese Embassy, which alerted Thailand’s Ministry of Foreign Affairs to his presence in the country. Authorities reported that the man initially stayed in Chachoengsao before relocating to Lamphun upon learning he was under surveillance.

Following his arrest, the suspect was transferred to the International Affairs Office for legal processing under Thailand’s Extradition Act, pending repatriation to China. [Bangkok Post]

Thailand’s leading private sector body, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), has sharply downgraded its economic outlook for the second half of 2025, projecting growth of less than 1 percent due to intensifying tariff pressures and weak private investment. It now expects full-year gross domestic product (GDP) growth of only 1.5 to 2 percent, down from an earlier forecast of 2 to 2.2 percent. 

The revision reflects ongoing trade tensions, especially with the United States, and rising competition from Chinese imports. Export circumvention and re-export practices involving low local content are also drawing concern, as they inflate trade figures without stimulating real domestic production or job creation. The JSCCIB further warned that the recent appreciation of the baht—currently at 32.5 to 32.7 per U.S. dollar—is eroding Thailand’s export competitiveness. 

To offset slowing momentum, the panel urged the government to accelerate disbursement of at least 70 percent of its USD 4.3 billion (THB 157 billion) stimulus package and to expand long-haul tourism to compensate for declining Chinese arrivals. Despite a 3.1 percent GDP rise in the first quarter, the JSCCIB estimates that growth would have been closer to 2.1 percent without temporary boosts from public investment and base effects. Export growth is now forecast to contract by up to 0.5 percent this year. [Thai PBS World] 

In response, Thai institutions and business leaders are increasingly focused on workforce transformation and industrial adaptation. The Federation of Thai Industries is accelerating its “Four Goes” campaign to help small and medium-sized enterprises upgrade their capabilities across four pillars: digital adoption, innovation, sustainability, and export readiness. This includes promoting basic and advanced technologies, practical innovations, carbon footprint tracking, and international expansion. [Bangkok Post 1] 

At the same time, executives from leading Thai companies are calling for deeper investment in people. Programs to foster “M-shaped” talent—combining deep expertise with multidisciplinary agility—are being promoted alongside AI training, leadership development, and intergenerational collaboration. The broader aim is to shift from short-term cost competition to long-term value creation and resilience in a changing global landscape. [Bangkok Post 2] 

Thailand is accelerating its path toward membership in the Organisation for Economic Co-operation and Development (OECD), with the government planning to submit its Initial Memorandum by December 2025 as part of the formal accession process. The goal is to complete accession by 2030. 

This development follows Thailand’s invitation in 2024 to begin accession discussions and coincides with its first participation in the OECD Ministerial Council Meeting (MCM) in Paris earlier this month. At the MCM, Thai Foreign Minister Maris Sangiampongsa emphasized that OECD membership will support regulatory reforms critical to modernizing the digital economy, strengthening cybersecurity, and promoting responsible investment practices. 

The digital sector is seen as a major growth engine. In 2025, it is expected to reach USD 50 billion—nearly one-quarter of Thailand’s GDP—driven by policies such as the “Go Cloud First” mandate, which requires public agencies to adopt secure, internationally compliant cloud infrastructure. In 2023 alone, the Board of Investment approved USD 7.3 billion in digital-related projects across sectors including AI, semiconductors, and cloud services. 

Thailand also aims to integrate responsible business conduct into its economic model, aligning with the OECD Declaration on International Investment. Foreign Minister Maris noted that small and medium enterprises (SMEs), which contribute over 35 percent of GDP, will benefit from streamlined regulations to boost their integration into global supply chains. [Bangkok Post 1] [Bangkok Post 2] 

Thailand’s Commerce Minister Pichai Naripthaphan expressed confidence that the upcoming sixth round of negotiations for a free trade agreement (FTA) with the European Union, set for June 23–27 in Bangkok, will yield significant progress as both sides move into the critical phase of market access discussions. 

Following his recent meeting with European Commissioner for Trade Maroš Šefčovič in Paris, Pichai reported that four chapters of the agreement have already been concluded—covering transparency, good regulatory practices, customs procedures and trade facilitation, and sustainable food systems. He emphasized that concluding the FTA within 2025 remains a key government priority, aimed at enhancing Thailand’s trade competitiveness, attracting EU investment, and mitigating geopolitical risks. 

The European Union is Thailand’s fourth-largest trading partner, with bilateral trade in 2024 reaching USD 43.5 billion, up 4.26 percent from the previous year. Thai exports to the EU rose over 10 percent to USD 24.2 billion, while imports declined slightly to USD 19.3 billion. Key Thai exports include electronics, automotive parts, and jewelry, while imports from the EU consist of machinery, pharmaceuticals, and aircraft components.

SCB X and Krungthai Bank (KTB), two of Thailand’s largest financial institutions, are making final preparations to enter the virtual banking sector as the Bank of Thailand (BOT) prepares to announce license recipients by mid-2025. The first virtual bank operations are expected to launch by mid-2026.

SCB X has already developed the required infrastructure and partnered with China’s WeBank and South Korea’s KakaoBank. Krungthai Bank has similarly advanced its readiness, working with AIS and PTT Oil and Retail Business (OR), a subsidiary of PTT Group. Both banks stress that while they await official approval, current economic conditions may affect rollout speed.

The BOT’s virtual bank initiative aims to extend financial access to underserved segments and improve service efficiency through tailored digital products. A total of five applications have been submitted, with other contenders including Ascend Money (linked to the Charoen Pokphand Group and Ant International), C Group (backed by Bangkok Bank and Thailand Post), and Lightnet Group (partnering with Asia-Pacific fintech firm WeLab). The Finance Ministry will finalize license approvals following BOT’s recommendations. [The Nation]

Thailand and the United States are preparing to initiate online trade negotiations, with both sides signaling readiness to proceed as soon as the final schedule is confirmed. The move follows recent discussions between Thai Foreign Affairs Minister Maris Sangiampongsa and U.S. Trade Representative Jamieson Greer during the Organisation for Economic Co-operation and Development (OECD) Ministerial Council Meeting in Paris. 

Commerce Minister Pichai Naripthaphan, also present at the OECD event, confirmed that he has been assigned to oversee these negotiations since late 2024 and expressed confidence that formal discussions will soon begin. Meanwhile, on the U.S. side, rising steel tariffs—reportedly under review for a potential global increase from 25 to 50 percent—were discussed, with Thai officials stating that such a move would not disproportionately affect Thailand. [Bangkok Post] 

Gunkul Engineering, a major Thai clean energy developer, has warned that delays in long-term power supply planning and renewable energy policies are diminishing Thailand’s attractiveness to foreign investors, especially compared to regional competitors like Vietnam and the Philippines. 

Despite offering investment incentives, Thailand’s implementation of its National Energy Plan (NEP) has been sluggish. The NEP, covering the years 2024 to 2037, targets 51 percent renewable energy in the power mix by 2037—up from 22 percent in 2024. However, Gunkul argues that this target remains insufficient to meet Thailand’s 2065 net-zero emissions pledge, especially as peers like Vietnam and the Philippines are targeting net-zero by 2050. 

The company also raised concerns over the delayed rollout of a pilot program for direct power purchase agreements (PPAs), which would allow energy-intensive businesses, such as data centers, to buy renewable power directly from producers. Although this initiative was approved in June 2024, it has not been implemented. By contrast, Vietnam and the Philippines have already operationalized such schemes. 

Thailand's renewable power capacity currently stands at 5,000 megawatts, compared to 23,000 megawatts in Vietnam. Gunkul attributes this gap to regulatory delays and uncompetitive pricing mechanisms, such as a high utility green tariff, which disincentivize foreign investment in the sector. [Bangkok Post] 

Around 1,000 residents from Chiang Rai and Chiang Mai rallied on June 5—World Environment Day—demanding the Thai government take urgent action against heavy-metal pollution caused by gold mining in neighboring Myanmar's Shan State, most of which reportedly operate outside junta control. 

Protesters said more than 40 mines near the border have been contaminating key rivers—including the Kok, Ruak, Sai, and Mekong—with toxic runoff, severely impacting agriculture, fisheries, drinking water, and tourism. They noted that some mining sites are located just two kilometers from the Thai border. Thai pollution control authorities have confirmed the contamination following recent water quality tests. 

Protesters also urged the Thai government to undertake environmental rehabilitation measures, warning that if left unresolved, the ecological damage could affect millions across the northern region. [Bangkok Post] 

The Ministry of Interior has issued land title deeds for 53,437 plots as part of a national campaign to improve land ownership access and support rural livelihoods. The effort targets over 562,000 remaining plots across more than 2.8 million rai (approximately 4,480 square kilometers) still lacking proper documentation. The ministry aims to complete this nationwide by 2032, based on complaints, petitions, and local land office data. 

For fiscal year 2025, the Department of Lands is funded to issue 86,000 deeds in 69 provinces, excluding areas like Bangkok and Phuket, which either already have widespread documentation or fall under protected forest zones. 

Between December 2024 and April 2025, title deeds were granted for 42,412 plots totaling around 109,914 rai (about 176 square kilometers). In Thailand’s southernmost provinces—Pattani, Yala, Narathiwat, and Songkhla—a separate campaign resulted in 11,025 plots receiving title deeds from a targeted 16,000. 

Since the initiative began in 1985, more than 14.8 million plots have been documented, covering over 71 million rai (approximately 113,600 square kilometers), advancing the government's goal that every farming household should have sufficient land for subsistence. [Bangkok Post]