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DBD intensifies crackdown on foreign proxy-owned businesses

10 Sept 15:05 Key points summarised by AI

The Department of Business Development (DBD) is escalating its fight against illegal foreign proxy-owned businesses, blacklisting thousands of firms and exposing a network of local accountants acting as nominees.
On-site inspections across 11 economically significant provinces identified 3,294 firms showing signs of proxy ownership, leading to data on over 14,000 related entities being forwarded to law enforcement for legal action.
Expanded investigations into accounting firms in eight tourist-heavy provinces uncovered 29 firms and 140 accountants holding shares in more than 2,040 foreign-investment joint ventures, totaling 2.52 billion baht.
To address the systemic issue, the DBD will establish stricter regulatory oversight for accountants and implement new financial tracing measures by August 1, having already reduced the number of such companies by over 65%.

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.