Portuguese companies are not concerned about the limit on foreign ownership in Thailand since they are mostly small and medium businesses (SMEs) that are keen on partnership rather than gaining full control, says Pedro Siza Vieira, minister assistant to the prime minister of Portugal.
He also urged the need for greater bilateral trade and investment relationship between the countries, identifying seafood and tourism as the industries for immediate cooperation and development of digital economy and infrastructure building as areas for future collaboration.
"This is the one area where I think the Portuguese are different from other investors," Mr Vieira told the Bangkok Post, referring to the Thailand Foreign Business Act (FBA) which limits foreign shareholding to 49% of a business and includes three lists of work in which foreign participation is either prohibited or restricted.
