Bangkok: Minister Suchart met with the Senate’s Commerce and Industry Committee to address two significant issues: foreign nominee shareholding in Thai businesses and the management of religious properties. These discussions are aimed at finding effective solutions to both challenges.

According to Thai News Agency, Mr. Suchart Tancharoen, Minister to the Prime Minister’s Office, held a meeting with key members of the Senate Committee on Commerce and Industry, including Mr. Ekkachai Ruangrat, First Vice-Chairman; Mr. Sahaphan Rungrojanaphanit, Fifth Vice-Chairman; and Mr. Piyaphat Suphawan, Advisor to the Committee, along with their delegation.

The meeting focused on two primary issues. Firstly, the concern regarding foreign investors’ criteria, which limit foreign shareholding to no more than 49% of a business’s registered capital, with the requirement for Thais to hold at least 51%. This has led to problems with foreign nominees. Minister Suchart urged the committee to collaborate on studying and resolving these issues to alleviate investor concerns.

The second issue discussed was the crisis of faith in Buddhism, specifically the management of temple and monk properties to restore public trust. The committee suggested initiatives such as opening separate bank accounts for monks and temples, potentially through state-regulated banks like the Government Savings Bank and Krung Thai Bank, to enhance transparency.

Additionally, the committee proposed the use of Big Data to compile comprehensive information on temples, monks, and temple assets. This would help in managing and assisting temples in need and provide the public with crucial information about religious sites, thereby strengthening public faith and serving as a foundation for long-term religious site reform.

Minister Suchart expressed gratitude to the committee for their commitment to these issues and assured them of his intention to coordinate with relevant agencies, especially the National Office of Buddhism and economic agencies, to develop practical guidelines and implement actionable solutions.