Thai people with face masks on to avoid COVID-19 infection (Photo: Xinhua/VNA)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./.
VNA
