Thailand: Groups call for regulation of outbound investment ahead of court decision on transboundary Xayaburi dam case
Thai NGOs monitoring foreign investment are calling on the government to enact an outbound investment law and oversight body to prevent harmful social and environmental impacts of Thai investment projects in other countries, and protect Thailand’s international reputation.
“Large-scale projects that are opposed by Thai communities and do not meet the requirements of Thai law are instead being built by Thai developers in neighboring countries with weaker legal institutions, such as Cambodia, Lao PDR and Myanmar,” says Areewan Sombunwatthanakun of the Spirit Education Movement
This call comes three days before the Thai Administrative Court rules on a challenge brought by Thai villagers living on the Mekong River against the state-owned Electricity Generating Authority of Thailand (EGAT) and four other state bodies for agreeing to buy 90 % of electricity from the $3.5 billion Xayaburi hydropower dam. The dam is being built and financed by Thai companies in neighboring Laos...