BANGKOK, Thailand – The Thai cabinet has recently approved, in principle, the draft bill on the “Entertainment Complex Business Act,” proposed by the Ministry of Finance. The objective of the bill is to promote the establishment of a standard integrated entertainment complex, as well as promoting tourism and investment.
The Cabinet meeting pointed out that the entertainment complex would serve as a man-made destination through diverse experiences and activities, such as water parks, amusement parks, shopping malls, concerts, festivals, exhibition, conferences, and world-class sporting events. In similar complexes elsewhere, casinos typically account for up to 10 percent of the business. The project would stimulate the economy and generate income for the Government and employment for the people. The Ministry of Finance maintains that, if the Entertainment Complex Law is passed, a number of benefits would be created:
– 5-10% more tourists arrive annually, spending from US$1,296 to US$1,945 per person;
– Increase tourism revenue from $3.5 billion to $7 billion;
– Create 9,000-15,300 new jobs;
– Bring in over $2.9 billion in investment;
– Earn from $354 million to $1.1 billion in government revenue annually.
However, guidelines for the control and supervision of the entertainment complexes, along with measures to prevent negative impacts, are necessary and are being considered. In the next step, the bill will be forwarded to the Council of State for scrutiny and to the House of Representatives for the first reading. A House committee will be formed to consider the bill in the second reading. If the bill is then approved in the third reading, it will be forwarded to the Senate for consideration. (PRD)
