On January 31 2013, Thailand's House of Representatives approved a new act intended to facilitate private investment with public sector projects. The Act Governing Private Sector Participation in or Operation of State Activities will supersede the 1992 version which presented several issues for parties wishing to enter joint investment contracts with state-owned enterprises. These issues include an unclear and overlapping authority of several government regulators with the NESDB refusing to play a significant role and substantial delays and increased costs in the project approval, with no clear definition of what constitutes a state-owned enterprise. In addition, the old act does not provide for contract renewals or amendments or the scope of discretion for project approval.
March 20, 2013