Doing Business in Thailand

For service providers that rely on foreign investment like us, 2008 was a bad year and I remembered in October 2008 whishing for the year to end and for a fresh start in 2009. Obviously, the subprime crisis and the seizure of Bangkok airport by the yellow shirts shattered any chances of fresh start. Curiously and despites everything that happened 2009 was not as bad a year as it could have been. Still the year is about to come to an end and it is now time to think about what 2010 may bring us. Unfortunately, prediction are difficult with a political situation at a standstill and the business community holding its breath and waiting to see what will happen next.

Let me make a parallel with Thailand political situation and the game of “La Roulette”.

For those who have never been into a casino, “La Roulette” is a game in which players choose to place bets on a number, a range of numbers, the colors red or black, or whether the number is odd or even. To determine the winning number and color, a croupier spins a wheel in one direction, and then spins a ball in the opposite direction around a tilted circular track running around the circumference of the wheel. The ball eventually loses momentum and falls on to the wheel and into one of 37 (in European roulette) or 38 (in American roulette) colored and numbered pockets on the wheel.

Now there is this moment in “La Roulette” game when the Croupier will launch the ball and say “the chips are down” (les jeux sont faits). From this moment until such time when the ball falls into one of the number gamblers may not place bet anymore.

That is the political situation in Thailand now, all sides have made their bets and we are waiting to see where the momentum of the political standoff will bring us. The standoff between the red shirts and the government has been delayed because of his Majesty birthday celebration but has not been cancelled and there is no way to predict what will happen after the truce. Will 2010 bring us the fresh start we all need? One thing is sure, this is not a game that will end up with a draw.

About the Author:

The author Rene-Philippe DUBOUT is a lawyer since 1990 when he was admitted to Geneva bar (Switzerland). He practiced as a litigator there for 10 years until he moved to Thailand in 1999. In 2002 he founded with a group of Thai lawyers Rene Philippe & Partners Ltd a local law firm that specialized in Cross Borders Investments and Real Estate. He has been lecturing in several Thai Universities and a speaker to numerous conferences and seminars. He is the author of a must read book:”How to Purchase Real Estate Offshore Safely: The Case of Thailand” and of the second edition that will be published in November 2009 under the new title :”How to Safely Buy Real Estate in Thailand”

http//:www.renephilippe.com

© Copyrights 2009 – Rene Philippe Dubout – This article may be reprinted if information about the author, the websites, and the URLs remain intact.

Originally posted 2009-11-30 03:53:22.

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