On 20 December 2006 the Bank of Thailand issued an announcement relaxing certain provisions in their 18 December 2006 Announcement No. 51, "The Reserve Requirement on Short-Term Capital Inflows." Currency bought or exchanged against the baht for equity investments (not including mutual funds) in the Stock Exchange of Thailand (SET), the Market for Alternative Investment (MAI), the Thailand Futures Exchange (TFEX), and Agricultural Futures Exchange of Thailand (AFET) are exempted from the 30% reserve requirement. The baht proceeds obtained from the above transactions can be credited to Nonresident Baht Accounts which are allowed to exceed 300 million baht until further notice. Read an English language summary of the announcement on the Bank of Thailand Website.

On 18 December 2006, the Bank of Thailand issued Announcement No. 51 "The Reserve Requirement on Short-Term Capital Inflows". Under the new regulation, the Bank of Thailand will require financial institutions to withhold 30% of foreign currency bought or exchanged against the Thai baht (except in cases where the transaction is related to trade in goods and services or repatriation of investments abroad by residents). After one year, foreign customers can file a request for the return of their funds.  Customers repatriating their funds before one year will be refunded only two-thirds of the reserve amount.

According to media sources, Finance Minister MR Pridiyathorn Devakula announced at a seminar at Mahidol University that a new law protecting small retailers will be enacted in the next few months.  Pridiyathorn stated the presence of giant retailers in Thailand has had negative consequences such as unequal income distribution, distortion of cultural values and destruction of communities. The new law would be designed to allow big and small retailers to coexist.

Members of BioThai, a nonprofit group that works to protect farmers' rights and biodiversity, have asked the Agriculture Department to object to the patent awarded to Cornell Research Foundation by the US Patent and Trademark Office over its "invention" of a genetically modified papaya developed from two native papaya plants, khaek dam and khaek nual.  Experts state that the patent would give exclusive rights of the GM papaya to the patent holders only in the US.  However, Thai farmers could not export the papaya to the US or other countries where the patent was recognized.

A study conducted by the Institute for Population and Social Research at Mahidol University (published 13 Dec 06) revealed that the majority of Thai employers of migrant laborers do not believe they deserve the same rights as Thai citizens.  Over 60% of the employers believed that the workers should not be allowed to leave the work place.  Eight percent of the 700 migrant workers interviewed in the study complained that their employers locked them up at night.

The Foreign Ministry announced that they would not deport a group of 152 Hmong refugees from Laos according to government sources.  The case has attracted the attention of international humanitarian organizations who urge the Thai authorities not to return the Hmong to Laos where they may face prosecution.  The Foreign Ministry insists that the transfer of workers to a detention center in Nong Khai on the Thai-Laos border does not indicate that they will be returned to Laos, but rather officials insist the refugees were relocated to prevent overcrowding in the detention center.

Economists and social scientists participating in the two day Thailand Development Research Institute seminar have called on the Interim Government to introduce laws lessening corruption according to media sources in attendance at the conference.  Suggestions for legal reform include an early-warning system for fiscal policy, a clear plan about trade liberalization, law amendments establishing severe punishments for corrupt politicians and bureaucrats, policies mandating that government agencies disclose more information, a freedom of press law, and laws regulating the natural monopolies of some businesses.

According to sources, the Public Health Ministry will bring the Alcohol Control Bill before the cabinet today.  Media sources quote the Public Health Minister as stating that the Bill is designed to limit the 37 alcohol related casualties a day caused by drunk drivers by banning the advertisement of alcohol.  The new bill will also make the sale of alcohol to persons under 20 years of age as well as heavily intoxicated persons illegal.  The bill prescribes maximum prison terms and fines for persons acting in violation of the act.

The board of the National Health Security Office is said to have voted to include 700,000 stateless people into the Universal Health Care Scheme.  The board must plan sources of funding for their new proposal before seeking approval from the Cabinet next month.

A Commerce Ministry committee has been established to draft an amendment to the Life and Non-Life Insurance Law. The amendment, scheduled to be submitted to the Cabinet and the National Legislative Assembly early next year, aims at protecting policy holders in the event that insurers are forced to close down by establishing a into which fund insurers are required to pay.

According to government sources, the National Legislative Assembly has voted to approve the establishment of a special development zone in the Southern provinces of Pattani, Sala, Narathiwat, Songkhla and Satun in an effort to stimulate economic development.  The new plan proposes for the government to offer tax incentives for investment projects and improve the roads in the region.

According to government sources, Social Development and Human Security Minister Paiboon Wattanasiritham announced yesterday that his ministry would put the Domestic-Violence Victim Protection Bill before the Cabinet within two weeks.  Paiboon is said to have estimated that domestic violence exists in 18 million families in Thailand.  The proposed bill aims for the rehabilitation of domestic violence perpetrators rather than focusing on punishment.

The National Legislative Assembly is said to have debated a draft bill in yesterday's session aiming to punish computer hackers and those who publish pornography on the internet.  Opponents of the bill claim that the draft gives too much power to state investigators and may infringe on civil rights and freedom of expression.