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Over 500 Chinese companies made their way to Thailand last weekend in order to forge bilateral contracts that would pave the way for new Chinese manufacturing sites in the Southeast Asian country.

The move comes as a mutually beneficial economic deal for both countries.

On the one hand, Thailand will be able to link its Eastern Economic Corridor, which has prime port access to the rest of the world’s trade, with China’s insanely ambitious Belt and Road Initiative that seeks to create a trade infrastructure of roads, bridges, and other pathways from mainland China all the way to Europe.

Also, the economic symbiosis between the two countries will give Chinese manufacturing sites a crucial loophole to avoid US tariffs that have become the norm as Donald Trump’s trade war against the East Asian nation intensifies.

“It is the [opportunity] Chinese investors are seeking: a place outside China to produce with higher competitiveness to counter the effects of the trade war and also to become more competitive in global markets,” said Stanley Kim, the chairman of the Joint Foreign Chambers of Commerce who organized the event.

Read the full story here.

For a qualified Thailand business attorney, contact the expert lawyers at Chaninat & Leeds.

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Thailand’s King Maha Vajiralongkorn is now the largest shareholder of Siam Cement Group Pcl, the country’s fourth most valuable company, according to the Stock Exchange of Thailand.

The King’s holds a 33.3% share of the giant industrial supplies and construction company, which amounts to over $5 billion.

In June, the Crown Property Bureau (CPB), which manages the monarch’s vast wealth and land holdings, issued a statement giving the King personal ownership over all of its assets.

According to Forbes, the change made King Vajiralongkorn the richest monarch in the world, with a wealth of over $30 billion.

The King is also listed as the seventh largest stockholder of Siam Commercial Bank, the third most valuable company in Thailand. The CPB is still listed as the number one shareholder.

Read the full story here.

For an expert Thailand business lawyer, contact the seasoned attorneys at Chaninat & Leeds.

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Germany to Relax Immigration Laws In Order to Meet Skilled Workers Shortage

August 22, 2018

In order to fill its massive skilled labor gaps, the German cabinet is considering a proposal that would make it much easier for workers outside of the European Union to migrate and work in Germany, according to Reuters. The idea comes as a major surprise when you consider that anti-immigration sentiment is widespread in the […]

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Thai Authorities Charge 156 Employers Under Migrant Worker Laws

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During the first two weeks of July, Thai police charged 156 employers with violating the country’s migrant worker laws. The increased crackdown comes in the wake of a move by the Thai government to document all migrant workers in the country by the end of June. After the June 30th deadline, the Thai government formed […]

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Myanmar Passes New Legislation in Hopes of Attracting Thai Investors

July 23, 2018

Myanmar recently passed a new companies law in the hopes that it will attract increased investment from Thai businesses in the coming years. The legislation comes after massive drops in investments from Thailand into the Burmese economy in recent years. Burmese officials point out that the revamped companies law will replace the century-old replaced legislation […]

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Japan’s First Ever Plea Bargain Reached in Thailand Bribery Case

July 16, 2018

          A Japanese firm agreed to a plea deal after allegedly bribing public officials in Thailand, in what is the country’s first ever plea bargain since introducing the new system last month. Japanese government investigators alleged that Mitsubishi Hitachi Power Systems Ltd. (MHPS) violated the Unfair Competition Prevention Law by bribing […]

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Thai Government Courting Chinese Investors for $51 Billion Development Project

July 16, 2018

          The ruling Thai military government is courting Chinese investors to help fund a $51 billion infrastructure and economic development plan for the country’s eastern seaboard. The so-called Eastern Economic Corridor project would use Chinese funds to introduce technologically advanced industries to the region, from biotech and robotics to aircraft maintenance, […]

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Ecuador’s High Court Upholds $9.5 Billion in Damages Against Chevron

July 11, 2018

Ecuador’s top court stood by a ruling on Tuesday that levied $9.5 billion in damages against the massive multinational oil company Chevron, for its decades of pollution that harmed both the environment and indigenous Ecuadorians. It was a token ruling, though, as Chevron no longer has pulled all of its assets and business out of […]

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Thailand Considering New Tax on Online Foreign Companies

June 27, 2018

                Thailand’s government will examine a new law that would require all foreign businesses with no physical presence in the country to report all their transactions to their government to determine if they should pay value-added tax (VAT), which currently stands at 7%. As of now, foreign companies […]

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Supreme Court Rules that States Can Tax Internet Sales

June 25, 2018

The U.S. Supreme Court ruled in a 5-4 decision last week that state governments are constitutionally allowed to tax internet sales, even if the business has no property or employees in the state. The decision, which overturns prior rulings that require a company to have a physical presence in the state before being subjected to […]

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