Deputy Finance Minister Updates on the Entertainment Complex Act
Deputy Finance Minister Julapun Amornvivat offered an insightful update on the Entertainment Complex Act, addressing its upcoming review in the House of Representatives. On April 9, the bill will undergo its first reading aimed at obtaining principle approval before the legislative session concludes.
A dedicated 31-member committee will subsequently be established to meticulously assess the bill, with Julapun at the helm as the committee chair. This inclusive committee will comprise nine Cabinet representatives along with members from diverse political parties, academia, and possibly external experts.
“Regarding the allocation of committee positions for the Pheu Thai Party, I will personally select candidates focusing on their capacity to contribute effectively,” said Julapun. He emphasized a commitment to transparency, ensuring that no individuals exploit their positions for personal gain.
Further elaborating on the committee’s structure, Julapun pointed out its appropriateness. He recalled that in 2005, previous committees with more members failed to pass any legislation. This time, a streamlined approach will ensure only capable contributors are appointed.
Legislative Timelines and Government Goals
Elaborating on the legislative timeline, Julapun stated that the government will not rush the process. Upon the bill’s principle approval in April, subsequent readings could proceed as soon as the legislative assembly reconvenes in July.
The administration views the establishment of the Entertainment Complex Office and the passage of this bill as pivotal objectives, with a target to complete these initiatives within their term. This foundation could facilitate immediate licensing auctions, independent of future political shifts.
Economic Aspirations and Complex Design
The government envisions entertainment complexes as vital catalysts for economic growth, prioritizing non-casino features, which will constitute 90% of the planned space. The proposed “4 plus 1” model encompasses a casino alongside essential infrastructures such as large sports arenas, concert venues, world-class amusement parks, and luxury shopping malls.
Projected Economic Impacts
This initiative is expected to bolster tax revenues significantly, including taxation from casino operations. The legislation aspires to implement a 12% tax on VIP gambling revenues and 18% on general gambling sales, reflecting Singapore’s model. Additionally, corporate and value-added taxes are projected to boost financial inflows.
Commenting on license limits for entertainment complexes, Julapun drew parallels with Singapore’s existing framework of two operational licenses. He stated, “The final decision on licensing will rest with the Entertainment Complex Policy Committee, which will assess the viability of each applicant post a comprehensive study by our Management Office.”
Addressing Concerns: Gambling and Addiction
Amid rising concerns about gambling addiction, Julapun acknowledged the existence of the issue in Thailand, relating it to illegal gambling activities. He noted, “The situation is manageable, as evidenced by Singapore, where only 3% of the population engages in casino gambling, with a mere 0.1% facing addiction challenges. Rigorous monitoring systems are in place there to manage these behaviours effectively.”
As discussions progress on the draft law, adjustments may be made to deposit requirements for Thai citizens wanting to participate in gambling, reflecting the government’s sensitivity to public opinion and the importance of responsible gaming practices.
As the bill moves forward, stakeholders are encouraged to focus on the crucial role of regulations in fostering a safe and responsible entertainment environment that serves the interests of citizens while stimulating economic growth.
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