Latest news with #JulapunAmornvivat
The Star
5 days ago
- Business
- The Star
Thailand unveils landmark entertainment complex to boost economy, tourism
BANGKOK: (Bernama) Thailand has unveiled plans for a landmark "Thailand Entertainment Complex' project, aimed at boosting economic growth, attracting international tourists and strengthening its global competitiveness. Deputy Finance Minister Julapun Amornvivat said the project was part of efforts to position Thailand as a premier destination for world-class attractions. "The complex is envisioned as a new economic engine, fostering tourism revenue and creating innovative industries to ensure sustainable economic growth,' he said in a statement on Thursday (June 5). The entertainment complex is anticipated to generate 12 to 40 billion baht in annual tax revenue while creating thousands of jobs, he said. Julapun said the government has submitted a draft bill to the House of Representatives to establish a regulatory framework for the complex. Meanwhile, Deputy Secretary-General to the Prime Minister, Suksit Srichomkwan, said the complex will include a casino, which will operate under strict legal conditions and anti-money laundering measures. It will also feature concert halls, large convention and exhibition centres, amusement parks, museums, Michelin-starred restaurants, and green spaces for outdoor activities. The project will be financed by private investment, sparing public funds, he said. - Bernama
Barnama
5 days ago
- Business
- Barnama
Thailand Unveils Landmark Entertainment Complex To Boost Economy, Tourism
BANGKOK, June 5 (Bernama) -- Thailand has unveiled plans for a landmark 'Thailand Entertainment Complex' project, aimed at boosting economic growth, attracting international tourists and strengthening its global competitiveness. Deputy Finance Minister Julapun Amornvivat said the project was part of efforts to position Thailand as a premier destination for world-class attractions. 'The complex is envisioned as a new economic engine, fostering tourism revenue and creating innovative industries to ensure sustainable economic growth,' he said in a statement on Thursday. The entertainment complex is anticipated to generate 12 to 40 billion baht in annual tax revenue while creating thousands of jobs, he said.
New Straits Times
5 days ago
- Business
- New Straits Times
Thailand unveils landmark entertainment complex to boost economy, tourism
BANGKOK: Thailand has unveiled plans for a landmark "Thailand Entertainment Complex" project, aimed at boosting economic growth, attracting international tourists and strengthening its global competitiveness. Deputy Finance Minister Julapun Amornvivat said the project was part of efforts to position Thailand as a premier destination for world-class attractions. "The complex is envisioned as a new economic engine, fostering tourism revenue and creating innovative industries to ensure sustainable economic growth," he said in a statement on Thursday. The entertainment complex is anticipated to generate between 12 billion and 40 billion baht in annual tax revenue while creating thousands of jobs, he said. Julapun said the government has submitted a draft bill to the House of Representatives to establish a regulatory framework for the complex. Meanwhile, Deputy Secretary-General to the Prime Minister, Suksit Srichomkwan, said the complex will include a casino, which will operate under strict legal conditions and anti-money laundering measures. It will also feature concert halls, large convention and exhibition centres, amusement parks, museums, Michelin-starred restaurants, and green spaces for outdoor activities. The project will be financed by private investment, sparing public funds, he said. — BERNAMA
Business Times
6 days ago
- Business
- Business Times
Thai parliament to deliberate casino Bill next month
[BANGKOK] Thai lawmakers will begin deliberating a draft law for casinos and entertainment complexes next month, a deputy finance minister said on Wednesday (Jun 4), as the government moves ahead with a plan to develop the gambling sector and draw in more tourists. Gambling is mostly banned in Thailand, apart from the lottery, state-controlled horse racing and some other sports. But successive governments have been pressing the case to build casinos that will attract more foreign visitors and create jobs and state revenue. 'The government will create a comprehensive law and prevent negative impact,' minister Julapun Amornvivat told a press conference. 'The country needs change, it needs a new engine of growth for the economy,' he said, adding that the Bill should be finalised within the term of the current government, which ends in two years. The draft law was approved by Cabinet in March and placed tough restrictions on locals, including a 5,000 baht (S$197.25) entry fee and evidence showing at least 50 million baht in bank deposits, which rules out the majority of the population. After it is approved by the lower house, it would need to be passed by the Senate before it is sent to the king for endorsement. The government, led by the populist Pheu Thai party, hopes to attract at least US$3 billion in new investment in casinos and entertainment complexes, and expects a boost in foreign tourist arrivals by up to 10 per cent. Though most gambling activities have been outlawed in Thailand, illegal operations have endured for years. Tourism is a key driver in Thailand, South-east Asia's second-largest economy, and the government forecasts 37 million foreign arrivals this year. Before the pandemic in 2020, arrivals hit a record of nearly 40 million. REUTERS
Reuters
6 days ago
- Business
- Reuters
Thai parliament to deliberate casino bill in July, minister says
BANGKOK, June 4 (Reuters) - Thai lawmakers will begin deliberating a draft law for casinos and entertainment complexes next month, a deputy finance minister said on Wednesday, as the government moves ahead with a plan to develop the gambling sector and draw in more tourists. Gambling is mostly banned in Thailand, apart from the lottery, state-controlled horse racing and some other sports. But successive governments have been pressing the case to build casinos that will attract more foreign visitors and create jobs and state revenue. "The government will create a comprehensive law and prevent negative impact," minister Julapun Amornvivat told a press conference. "The country needs change, it needs a new engine of growth for the economy," he said, adding that the bill should be finalised within the term of the current government, which ends in two years. The draft law was approved by cabinet in March and placed tough restrictions on locals, including a 5,000 baht ($153) entry fee and evidence showing at least least 50 million baht in bank deposits, which rules out the majority of the population. After it is approved by the lower house, it would need to be passed by the Senate before it is sent to the king for endorsement. The government, led by the populist Pheu Thai party, hopes to attract at least 100 billion baht ($3 billion) in new investment in casinos and entertainment complexes, and expects a boost in foreign tourist arrivals by up to 10%. Though most gambling activities have been outlawed in Thailand, illegal operations have endured for years. Tourism is a key driver in Thailand, Southeast Asia's second-largest economy, and the government forecasts 37 million foreign arrivals this year. Before the pandemic in 2020, arrivals hit a record of nearly 40 million.
