Legal Services & Resources
Up to date legal information pertaining to Thai, American, & International Law.
Contact us: +66 2-266 3698
Disney Comes to Thailand's Eastern Economic Corridor?
Transcript of the above video:
As the title of this video suggests, we're discussing Disney seems to be coming to the Eastern Economic Corridor or EEC here in Thailand. I thought of making this video after reading a recent article from Khao Sod English, that's khaosodenglish.com, the article is titled: Deputy PM says Disneyland Thailand is real, not a dream. Quoting directly: "Deputy Prime Minister and Transport Minister Phiphat Ratchakitprakarn said Thailand has the capacity to develop a Disneyland-scale project in the Eastern Economic Corridor, insisting the plan is feasible and not a "pipe dream". Phiphat, who oversees the EEC, was responding to skepticism over proposals to bring a Disneyland project to Thailand as part of the Corridor's development strategy. He said the country has sufficient potential to host a world-class theme park and stressed the project would go beyond a single attraction. Under the plan, the development would also include a large concert hall and a world standard sports stadium with a capacity of at least 80,000 seats to host major international concerts, sporting events and large-scale festivals. He said the project would not include a casino."
Yeah, for those who are unaware, casinos have been something of a controversial issue the last year or so as evidenced from watching this channel, frequent or avid viewers of this channel, we followed that pretty closely especially during the what I call the Rump Coalition Government. That said quoting further: "Phiphat said relevant EEC agencies have begun preliminary studies, with the investment model expected to follow a public-private partnership (PPP) structure, combining global private-sector expertise, technology and capital with careful state oversight." So again this is interesting news, and I think positive news for Thailand if we ultimately see this development come to pass.
I think it's important to point out that the Eastern Economic Corridor is a very new development in Thailand and can be very beneficial for foreign nationals wishing to do business here. In many ways it is similar to the BOI insofar as the Eastern Economic Corridor Commission if you will, can actually issue certain concessions to allow foreigners to do business within the remit of their physical bailiwick, so basically within the Eastern Economic Corridor sector if you will, which I believe is Chachoengsao, Chonburi, and Rayong, those three provinces over on the eastern part of Thailand. If you're doing business physically in that area, it may be possible to gain certain benefits through the Eastern Economic Corridor basically again, there's a Board now that can allow certain types of business concessions including tax concessions, Work Permit concessions etc., so it can be very beneficial to foreigners looking to do business here in the Kingdom of Thailand.
