Thai telecom bill passes, limits foreign investment

BANGKOK, Thailand—The Thai parliament passed a bill that limits foreign investment in Thai telecom companies to 25 percent. Once the bill is announced by royal decree, it will become law.

Several mobile operators in Thailand have foreign company shareholders with stakes higher than 25 percent. Several firms and government officials criticized the bill due to its vague language regarding the foreign-ownership issue and its potential to stagnate foreign investment in the Thai telecom sector.

The bill also provides guidelines for the National Telecommunication Committee (NTC), a new regulatory body to oversee the sector.