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The Investment Promotion Act B.E. 2520 (BOI Act) was amended and this amendment has been effective since 25 January 2017. The official English translation has not yet been published on the BOI website (2 Feb 2017), but DFDL has summarised the changes.
Please click on the below link for the full text:
The first enactment of Thailand’s Interest Overcharging Law, which came into effect in 1932, prohibited any person from loaning money to another person and subsequently charging them interest at a rate that exceeded the rate prescribed by the law.
Eighty-five years later, Thailand finally promulgated a new law focused on this topic called “The Act Prohibiting the Collection of Interest at an Excessive Rate B.E. 2560 (2017)” on January 15, 2017. The new law was made effective the following day, repealing the 1932 version.
A key element of this new law is the enhanced stringent penalties imposed on any person who loans money to an individual and then levies interest on repayments at a rate exceeding that permitted by law. This action will result in the offender facing criminal sanctions amounting to imprisonment for no more than two years, a fine of not more than THB 200,000, or both. These penalties are significantly stricter than those meted out under the previous Act, which only imposed up to a one-year imprisonment term, a fine of not more than THB 1,000, or both.
The best ever Seafood under the Stars at the Norwegian Ambassador's Residence featuring renowned Norwegian Chef Markus Dybwad is just around the corner. Mark your calendars!
Date: Thursday, 26 January 2017
Time: 18.30 – 22.00 hrs.
Venue: Residence of H.E. the Norwegian Ambassador, 74 Sukhumvit Soi 38
Price: Members: Baht 5,000 plus 7% VAT. Table for 10: Baht 48,000 plus 7% VAT
RSVP: email@example.com by 20 January 2017.
With a record of accomplishment from Michelin starred restaurants such as Restaurant Bagatelle in Norway, Heston Blumenthal’s The Fat Duck in UK, Iggys and Equinox in Singapore, Norwegian born Chef Markus Dybwad is taking his experience to Asia to give you the best of what can be offered of cold water seafood. Chef Markus has through his curious nature been introduced to the traditional Norwegian cooking, the fine dining cuisine of the Fat Duck, the French style in Paris, and through nearly three years around Asia, the Eastern palette. This has developed into a food philosophy where styles, flavours and traditions are pieces of the puzzle leading to the ultimate moment of the guest satisfaction.
Economic issues lie at the heart of Norway’s relationship with Thailand. The jobholder will therefore have a high profile and stimulating role. The jobholder will have the opportunity to build an extensive network of contacts across government, academia, and the private sector. The jobholder will also assist in regional development programme management.
Requirements on competencies and skills
We offer a competitive package, which includes salary, good holiday entitlement and insurance plan, multi-cultural environment, training and development opportunities etc. The successful candidate will be employed under locally employed staff conditions within the Norway Embassy. Salary range is THB 715,000 – THB 949,000 yearly depending on qualifications. The position is a 60% position, but can be considered as a 100% position at a later stage.
How to apply
Deadline for applying is 15 February 2017.
The Norwegian Embassy is an equal opportunity employer and people with disabilities are encouraged to apply. Both female and male candidates are also equally encouraged to apply. Each application will be considered carefully. We thank all applicants for their interest, but only candidates shortlisted for interview will be contacted.
If you are interested and meet the above-stated criteria, please send your CV together with a Cover Letter explaining why you think you are suitable for this position (please clearly mark the Position Title under the "subject" title of your email or fax), to:
The Royal Norwegian Embassy
561 UBC II Building, 18th Floor
Sukhumvit Rd., Soi 33
Due to conflicting calendars of several of the key attendees, it has been decided to postpone the planned Norway-Asia Business Summit 2017 in Cebu, the Philippines to 21-23 November 2017
Norway-Asia Business Summit aims to strengthen the competitiveness of Norwegian business in the region, through increased geopolitical knowledge, economic understanding, and market comprehension. The delegates are offered, through the presentations and networking possibilities, ideas for business opportunities in the region. The annual Summit provides a rich mix of discussions on business in Asia, with additional focus on a few countries currently enjoying rapid growth. Norway-Asia Business Summit is seen as an important event to meet and develop new and existing relations. A high-level participation from Norwegian and international politicians, business leaders, academicians, and journalists, all of whom will share their knowledge, insight, analysis and recommendations for the future, is expected to take part in the Summit.
In 2017, Norway-Asia Business Summit will take a closer look at:
Coincidentally, the Philippines holds the ASEAN chairmanship in 2017, which will highlight the association as a model of regionalism and a global player with the interest of the people at its core. As a country, the Philippines is one of the fastest growing economies in the world, with an annual growth of almost 7%, attracting much interest from global investors.
Bring your spouse, friends and colleagues for an informal Christmas in a cosy evening and relaxing atmosphere. Find the Christmas spirit in Bangkok with traditional Norwegian Christmas food and drinks. This is a unique opportunity for the Chamber members and friends to meet informally and build a network for future professional and social use.
Date: Thursday, 15 December 2016
Time: 18.00 - 21.00 hrs.
Venue: Da Vinci restaurant at Rembrandt Hotel, 19 Sukhumvit Soi 18
Price: Members: Baht 1,500/Non-members: Baht 2,000.
RSVP: firstname.lastname@example.org by 9 December 2016.
The fourth issue of the joint Norway-Asia Business Review was released on Wednesday, 14 December 2016. This issue focuses on the State Visit from Singapore to Norway and the many events taking place in connection with the visit. The magazine also contains an Eulogy to honour H.M. King Bhumibol Adulyadej by renowned Thailand-based legal expert David Lyman, Chairman and Chief Values Officer of Tilleke & Gibbins International. In addition, several energy related articles and how Norway can be a game-changer in the energy intensive heavy industry. We also take a look at the development of e-government and e-payment solutions in Asia.
Several Norwegian Chambers of Commerce and Business Associations in South and Southeast Asia jointly issue the expanded and upgraded Norway-Asia Business Review.
The magazine reaches Norwegian-related business executives and decision makers throughout the region including the diplomatic missions as well as government ministries in Norway and Norwegian sector-based organisations, e.g. Innovation Norway and NHO. Business Review is a business magazine and the contents reflects this. The magazine focuses on Norwegian-related stories from the region and issues that have impact or interest for Norwegian related businesses. Business Review is available in print as well as digital form through Issuu and Pressreader.
A consultative session was held on 1 December at BOI offices with JFCCT
Present were BOI Secretary-General Mrs. Hirunya Suchinai, Deputy Secretary General Duangjai Asawachintachit, Deputy Secretary General Ajarin Pattanapanchai and other key staff. Mr Phongsakdi Chakshuvej Vice Chair of JFCCT and President German-Thai chamber, Ms Vibeke Lyssand Leirvag President Thai-Norwegian Chamber, Mr Bob Fox, Chair JFCCT/EABC ICT Group, with and members of JFCCT/EABC ICT Group.
Participants learned of updates from BOI, discussed Digital Economy and other BOI policies. Also covered were updates to the moves to change the definition of “work” (for which BOI indicated strong support) service sector liberalisation (referring back to the JFCCT Forum ‘SERVICES!’ of June 2016), obstacles to doing business in Thailand which BOI had requested be provided, along with related inputs. BOI has invited further engagement on these topics and a commitment to support ‘doing business’ improvements.
Date: Sunday, 27 November 2016
Time: 12.00 – 15.00 hrs.
Venue: Residence of H.E. the Norwegian Ambassador, 74 Sukhumvit Soi 38
Price: Adult members Baht 1,800
Adult non-members Baht 2,300
Children (2-12 years) Baht 500
Lunch includes free flow of beer and soft drinks
RSVP: email@example.com by 23 November 2016.
The Norwegian Christmas Lunch is a great social family celebration held in the beautiful garden at the Norwegian Ambassador’s residence. The traditional Norwegian Christmas buffet includes a wide selection of well-prepared and tasty dishes, among them:
There will be a Christmas workshop for children, dance around the Christmas tree and lots of fun for everyone. This is a special occasion for the Norwegians and their friends in Thailand to get together and wish each other a Merry Christmas and Happy Holidays. At the end of this cosy Christmas event, you might get lucky and win some of the fantastic raffle prizes we have received, so don’t forget to bring cash for raffle tickets.