The 14th edition of the Insurance Outlook, researched and written by our knowledgeable lawyers in the Insurance Practice Group, offers an overview of the insurance sector in Thailand and is intended as an informative digest of the insurance sector’s most prominent aspects based on the latest reported data.
After much buzz and anticipation in the Thai energy industry, the Energy Regulatory Commission has finally published (i) the official Regulations for Purchasing Electricity from Renewable Energy Sources under a Feed-in-Tariff Scheme between 2022-2030 for Power Plants with No Fuel Costs on 27 September 2022, and (ii) the official Invitation Notifications for Purchasing Electricity from Renewable Energy Sources under a Feed-in-Tariff Scheme between 2022-2030 for Power Plants with No Fuel Costs, specifying the bidding process and timeline of each type of renewable power plant on 30 September 2022. In keeping with Thailand’s commitment to increase renewable energy’s share in the country’s overall power mix to at least 50% by 2050 and achieve carbon neutrality and net-zero greenhouse gas emissions by 2050 and 2065, respectively, the government will be accepting bids in November to purchase power generated from renewable energy sources in the years between 2024 to 2030.
Following the public hearing in March 2022, the Trade Competition Commission of Thailand published an amendment to the guideline on fair trade practices relating to credit terms with small and medium enterprises under section 57 (unfair trade practices) of the Competition Act 2017. This is the first amendment after the guideline became effective in December 2021.
Following the UN Climate Change Conference in Glasgow (COP26) in November 2021, almost 200 countries, including Thailand, announced their climate goals and made commitments to tackle climate change. Thailand has pledged to be carbon neutral by 2050 and reach net-zero greenhouse gas emissions by 2065. To support the government’s policy in this direction, various government agencies and public organizations, such as the Thailand Greenhouse Gas Management Organization, have been actively progressing efforts to realize Thailand’s sustainability goals through various schemes and measures that they are empowered to do under the relevant laws.
Governance plays a key role in protecting a company from undesirable misconduct and may help to mitigate some of the consequences of non-compliance, whether in terms of civil or criminal liabilities of the company itself or its board of directors.This article explores ESG from the corporate governance and management perspective.
From 2026, pure battery electric vehicles (BEVs) must be equipped with certain levels of advanced driver-assistance systems (ADAS); otherwise, excise tax rates will be higher. The Royal Gazette has published several notifications of the Excise Department regarding BEVs recently. The Notifications have introduced the ADAS requirements as a new condition to apply lower excise tax rates on BEVs along with detailed requirements on the use of domestically manufactured batteries.
The year 2022 marks a noteworthy year for a quantum leap in Thailand’s electric vehicle market. Against the backdrop of Thailand’s commitment to carbon neutrality and net-zero greenhouse gas emissions at COP26, combined with the unexpected uncertainty in oil and gas prices, Thailand’s EV market has accelerated to a new peak. Providing that the [email protected] goal under the national EV roadmap (i.e., to raise the proportion of zero-emission EVs to 30% of all domestic vehicle production by 2030) goes as planned, we take a look at what to expect in Thailand’s EV space, along with what has been happening during the first half of 2022.
Following years of market domination by the conventional automobile industry, EV technology is now emerging as an environment-friendlier alternative, opening up various new opportunities for businesses as well as consumers all around the world. EV development permeates the whole chain of the present automotive industry, from the manufacturing and distribution sectors to subscription and ride-sharing or ride-hailing businesses. To operate an EV business in Thailand, there are certain legal concerns you need to take into account.
Under the current regulation, a Good Manufacturing Practice (GMP) certificate obtained from the Food and Drug Administration (FDA) is a voluntary requirement for local medical device manufacturers. However, manufacturers of licensed medical devices and detailed notification medical devices must provide GMP certificates from the FDA or an ISO 13485 certificate issued by one of the official Certified Bodies as part of the documents for the registration of medical devices. These certificates are not required to manufacture and notify low-risk medical devices unless they are exported and certain certificates are required by the destination countries.
Advertising is a great way for business operators to connect with consumers, and advertisers today are able to reach more customers than ever before through the use of various media and channels (e.g., electronic, social media, brochures, newspaper advertising and TV advertising). In response to this, the Office of the Consumer Protection Board has deemed it necessary to step up its efforts to protect consumers. This article discusses the potential regulatory development that business operators should be aware of concerning the use of advertising that presents unsubstantiated claims or statements that are difficult to prove true.