Thailand: Draft air navigation bill progresses

The cabinet Tuesday approved a draft bill for the air navigation law, allowing foreign investors who win Board of Investment promotional privileges to own up to 100% of shares. Three categories -- aircraft manufacturing, aircraft parts manufacturing, and MRO -- will be allowed to enjoy 100% foreign ownership under the draft bill, said Nathporn Chatusripitak, an adviser to the prime minister's Office. The move aims to attract foreign investors to the aviation industry, which is one of 12 targeted industries the govt is promoting for its flagship Eastern Economic Corridor project. The plan aims to help Thailand become an aviation hub in Southeast Asia, Nathporn said. <br/>