Draft law to establish ‘Entertainment Complex’ expected to get cabinet approval
The draft legislation to establish an Entertainment Complex in Thailand is expected to be submitted for Cabinet approval by the end of this year.
Once approved, the bill will be forwarded to the House of Representatives for consideration when it reconvenes in mid-December 2024, with sessions running through April 2025.
Julapun Amornvivat, Deputy Minister of Finance, announced this development, emphasizing that it would be the first law of its kind in Thailand. The bill would legally permit the establishment of an Entertainment Complex, similar to those in other countries. It recently passed a public hearing, where 82% of participants expressed support for the initiative.
A study by the Fiscal Policy Office estimates that introducing such complexes could boost foreign tourist arrivals by 5-20%. It could also raise average tourist spending from 40,000 baht to 60,000 baht per person.
Julapun expressed confidence that the Entertainment Complex would drive economic growth on multiple levels. During construction, it would attract investment, and once operational, it would become a major tourist attraction, creating jobs for Thai workers. He highlighted the importance of prioritizing Thai employment within the complex and providing the necessary training to meet skill requirements.
While there is interest from the private sector, Julapun confirmed that no formal discussions have taken place. The draft law requires investors to have a minimum registered capital of 10 billion baht. Once the law is passed, a committee will be formed to review private sector proposals and identify projects that can boost tourism.
The law will also allow Thai nationals to enter casinos, with an entry fee capped at 5,000 baht per visit. The project concessions will be valid for 30 years, with the option to extend for an additional 10 years each time. A license will cost 5 billion baht, with an annual fee of 1 billion baht. (NNT)
Draft law to establish ‘Entertainment Complex’ expected to get cabinet approval by year-end - Pattaya Mail
