Asean Briefing, July 24, 2020
In June 2020, Thailand’s government approved new amendments to the Civil and Commercial Code (CCC) to simplify the process of setting up and conducting business in the country. It is anticipated that the proposed amendments will become law towards the end of 2020 or the beginning of 2021.
The changes to the CCC relate to simplifying the company formation process, new merger provisions, and a set timeline for the payment of dividends, among other amendments.
The changes in the CCC is part of the government’s efforts of ongoing regulatory reforms that provide additional clarity to doing business in the country. The government has also issued various stimulus packages to mitigate some of the immediate impact caused by the COVID-19 pandemic.
Thailand’s economic outlook expected to perform the worst in Southeast Asia with the central bank forecasting a GDP contraction of 8.1 percent in 2020; surpassing the plunge during the Asian Financial Crisis more than two decades ago.
In full: https://www.aseanbriefing.com/news/thailands-civil-commercial-code-amendments-ease-business/
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