Thai government mulls over immigration rules for investment, tourism attraction
Leading experts of Thailand are working on plans to foster investment and revenue from tourism once COVID-19 is brought under control, which will be proposed to the government next month.
Thai people with face masks on to avoid COVID-19 infection (Photo: Xinhua/VNA)
Bangkok (VNA) – Leading experts of Thailand are working on plans to foster investmentand revenue from tourism once COVID-19 is brought under control, which will be proposedto the government next month.
The plans include improving regulationson immigration, visa applications and work permits for foreign experts,including relaxing the requirement for foreign workers to report theirwhereabouts to authorities every 90 days, the Bangkok Post newspaper quoted Chayotid Kridakorn, head of a government task force to attract investment into Thailand, as saying.
The framework alsowill include inducements for foreign investors such as corporate income-taxcuts, relaxed property-holding rules and incentives for retirees and start-upcompanies.
Chayotid, an adviserto Deputy Prime Minister Supattanapong Punmeechaow and former head of JPMorganSecurities (Thailand), said he aims to attract one million retirees orpensioners to Thailand in the next few years, who he claimed could contributeas much as 1.2 trillion THB (38.01 billion USD) to the economy each year.
Thailand has seenforeign direct investment tumble more than half in the past five years to about361 billion baht in 2020 as investors were deterred by factors includingperiodic political uncertainties, low growth prospects due to an aging societyand a labour shortage.
Foreign touristarrivals into Thailand plunged to 6.7 million last year, the lowest level in atleast 12 years, after the country closed its borders to contain the pandemic.
Tourism contributed 3trillion THB to the Thai economy in 2019, accounting to 18 percent of thecountry’s GDP. The Thai government sets a target of earning 348 billion THBfrom outbound tourism this year./.
Thailand’s famous resort island Phuket is set to be the first province to waive the quarantine requirement for foreign visitors who have been vaccinated from July 1.
Thailand will shorten its quarantine period for foreign travellers with COVID-19 vaccination certificates from 14 to 10 days from April 1, to foster tourism.
The Tourism Authority of Thailand (TAT) as broadcast its latest TV commercial “Wait No More” in foreign countries under the concept of “Amazing Moments, Amazing Thailand”.
Electronic money (e-money) has grown in terms of spending and top-up value, driven by consumers' financial behaviour in the digital age and social distancing amid the COVID-19 pandemic
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
Thai people with face masks on to avoid COVID-19 infection (Photo: Xinhua/VNA) 
