Commerce Ministry insists SpaceX cannot hold 100% stake in Thai satellite business, citing sovereignty concerns

RegulationGeopolitics
โดย InfoQuest·THUS·Read original
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The Commerce Ministry has reaffirmed its stance against allowing a US company to establish a satellite telecommunications business with 100% foreign ownership, stating that it involves national sovereignty. Dr. Kirida Bhaopichitr, Assistant Minister to the Commerce Ministry, disclosed that low-earth orbit satellite telecommunications services are the only business sector where Thailand does not want US investment, and the sole US company seriously seeking this right is SpaceX, which has been pushing for access to the Thai market to provide internet services via Starlink satellites. However, Thai law still limits foreign shareholding in certain telecommunications infrastructure to no more than 49%. Previously, the Ministry of Digital Economy and Society had already rejected SpaceX's proposal to set up a wholly foreign-owned subsidiary. Nevertheless, Thailand is committed to increasing imports of several US goods, such as aircraft, liquefied natural gas, soybeans, and corn, and will reduce import tariffs on some items to zero, as well as accept US standards for imports of beef, lamb, and alcoholic beverages. However, it will not extend similar benefits to US pork. Thailand's main goal in trade negotiations with the US is to keep the overall import tariff rate below 19%, the level Thailand agreed to last year before the US Supreme Court ruling overturned President Donald Trump's trade policy approach. Currently, Thailand faces a 12.5% import tariff under a USTR ruling penalizing 60 countries for insufficient action to restrict trade in goods produced with forced labor, and is also under investigation over excess capacity issues.

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