Thailand: Deputy Prime Minister Somkid wants certain service sectors liberalised.

(From Thai Press Reports)

Section: Economy - Deputy Prime Minister Somkid Jatusripitak will ask Prime Minister Thaksin Shinawatra on Thursday to approve opening the service sector to foreign competition, The Nation reports.

Somkid will propose that computer, legal, insurance, accounting, education, tourism, beauty and entertainment businesses be opened to foreigners as part of the government's globalisation and economic-restructuring plan.

Suvit Maesincee, vice minister for commerce, said on Wednesday those Thai service sectors were considered competitive enough to be opened to foreigners. In addition, foreign investors will help develop Thai operating standards meet international requirements in the future.

He said the government was also considering opening up the telecommunications and finance sectors. In these cases, one consideration is whether these sectors should be given more time for development, to ensure competitiveness when opened to foreign companies.

However, he said the service sector had a high potential for attracting foreign businesses, and local operations were run by small and medium-sized enterprises (SMEs) considered highly competitive.

Under the government's globalisation and economic-restructuring plan, the Finance Ministry has responsibility for developing the capital market, while Commerce deals ...