The Department of Business Development (DBD) plans to introduce a new online service dubbed e-Foreign Business to help foreign investors apply for permission to operate a business, which is expected to be operational this month.
Auramon Supthaweethum, director-general of the department, said the new system should not only shorten the processing time of business registrations, but also reduce the volume of required documents.
Investors can use the system to perform tasks previously done on paper and/or in person, which takes up significant time.
This platform enables applicants to submit applications for foreign business licences/certificates, make payments, receive electronic receipts, utilise digital signatures, receive digital licences/certificates for their businesses, and download all documents.
Mrs Auramon said the system is in the trial stage to stabilise it and make it more user-friendly prior to launch, allowing foreign investors to confidently use the system without concerns about protection of personal and corporate information.
The trial process has been successful and she said she was confident the system would make it easier for foreign investors to complete several processes, reducing time and operating costs to improve Thailand's ease of doing business, enhancing the country's competitiveness.
The department expects once the system is introduced, applicants will opt for the online services over walk-in visits at the department.
Foreign entrepreneurs and investors can access the e-Foreign Business service via the department's website www.dbd.go.th, or contact the Foreign Business Administration Division at the DBD.
The DBD is upgrading its services by leveraging digital technology to improve efficiency, aiming for a seamless transition towards a fully digital government.
In 2023, a total of 667 businesses were granted permission under the Foreign Business Act of 1999, with a total investment value of 128 billion baht.
The top five countries investing in Thailand last year were: Japan, with 137 investors and a total investment of 32.2 billion baht; Singapore, with 102 investors and an investment of 25.4 billion; the US, with 101 investors and an investment of 4.29 billion; China, with 59 investors and an investment of 16.1 billion; and Hong Kong, with 34 investors and an investment of 17.3 billion.