Bangkok: “Chulaphan” is confident that the Entertainment Complex Act will pass the House in time for this government. It is expected that the investment of 300 billion baht will generate 39,427 million baht in revenue for the country. It is hoped that Thailand will compete for the top 3 in the world.
According to Thai News Agency, Mr. Chulaphan Amornvivat, Deputy Minister of Finance, emphasized the necessity of a new economic engine to enhance Thailand’s international competitiveness. With many countries vying to create new tourist attractions, the Thai government has proposed the “Thailand Entertainment Complex.” This initiative has involved discussions with multiple parties to ensure mutual understanding and alignment with global standards, including consultations with world-class entrepreneurs.
Executives from MGM Resorts International and Wynn Resorts, along with other significant foreign investors, have been part of the discussions. The government aims to pass the draft law promptly to avoid missing the opportunity to invest 300 billion baht, create 20,000 jobs, and boost national income by 39,427 million baht. Moreover, the government sector anticipates an increase in tax income by 440 billion baht. The selection process for this project is intended to be transparent and aligned with international standards, with a national committee set to study the project’s feasibility upon its drafting.
Mr. Suksit Srichomkhwan, Deputy Secretary-General to the Prime Minister, stated that Thailand’s status as a world-class tourist destination necessitates an increase in income per capita. The ‘Thailand Entertainment Complex’ project, therefore, must be expedited as it serves as an economic driver and brand-building tool, featuring attractions such as a theme park, water park, luxury hotels, and a yacht port to attract affluent tourists. Plans also include a large convention center, exhibition space, and a world-class concert hall, among other facilities, to bolster tourism and the national economy.
Mr. Suksid highlighted that Thailand plans to adopt successful models from Singapore, Japan, and the United Arab Emirates, focusing on high investment projects with robust regulatory measures. The government seeks to increase tourism income to 22,300 baht per person per trip, boosting tourist numbers by 5-20 percent annually. By learning from other countries’ experiences, Thailand aims to avoid losing further opportunities and enhance its economic standing on the global stage.