Held at Customs.

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Thailand is stepping into uncharted territory with a draft law aiming to establish the nation's first Entertainment Complex, expected to reach the Cabinet's desk for approval by year's end. Once cleared, the proposed legislation will proceed to the House of Representatives in mid-December 2024, with hopes of igniting tourism and economic growth through to April 2025.

 

Deputy Minister of Finance Julapun Amornvivat has heralded the move as groundbreaking, aligning Thailand with global counterparts boasting similar complexes. Early indications are overwhelmingly supportive, with 82% of public hearing participants throwing their weight behind the initiative.

 

A significant boom in tourism is anticipated, with projections of a 5-20% surge in foreign visitor numbers. The complex aims to elevate average tourist spend from 40,000 baht to 60,000 baht each. Julapun envisions the complex not just as a tourist magnet but also as a catalyst for Thai employment, underscoring the focus on upskilling local workers.

 

Though private sector interest is budding, formal engagements await post-legislation. Investors are required to present a minimum 10 billion baht registered capital. Following legal endorsement, a committee will guide investment into tourism-enhancing ventures.

 

Crucially, the law will permit Thai citizens to frequent the complex's casinos, with an access fee capped at 5,000 baht. Project licences span three decades with renewable terms, funded by an initial 5 billion baht fee and annual 1 billion baht renewals.

 

This legislative move signifies not just a boost for Thailand’s economy but also a new chapter in regional tourism competitiveness, reported The Pattaya News.

 

Photo: The Pattaya News

 

-- 2024-10-25