Former prime minister Thaksin Shinawatra has included promoting investment in integrated resorts in a 14-point strategy he presented to boost Thailand’s economy.
Thailand’s constitutional court recently removed the prime minister, Srettha Thavisin, from office, ruling that he had violated the constitution with one of his cabinet appointments. Just two days later, Thailand’s parliament voted to install Paetongtarn Shinawatra as prime minister, the 37-year-old daughter of ousted former leader Thaksin Shinawatra.
In an event held on Thursday of last week, Thaksin introduced a 14-point strategy to improve the country’s economy, in his first public speech since returning to Thailand after 17 years abroad.
Included in this list was a proposal that casinos should represent 10 percent of the space in each complex, and that Thailand must attract investors in other related businesses, including theme parks and hotels. Thaksin reckoned that each complex in Bangkok will require up to 100 billion baht ($2.9 billion) of investment and 50 billion baht ($1.4 billion) in the provinces.
He believes this approach can help propel Thailand’s growth rate to match some of its Southeast Asian neighbors.
The former premier argued that Thailand needs to urgently tackle its high levels of household and public debt, and suggested a debt restructuring initiative to cover both households and businesses, stating that “Thailand and its people are trapped in debt.”
This month the Thai government released the Draft Integrated Entertainment Business Act for public consultation until August 19th. The legislation seeks to modernize outdated laws and create a comprehensive framework to support and regulate the industry’s growth.
Alongside the push for entertainment complexes, Thaksin highlighted the need for greater coordination between fiscal and monetary policymakers to address Thailand’s economic challenges.
He defended Pheu Thai’s coalition with establishment parties, saying the new administration will be stable and help the party emerge as the largest group in the next election due in 2027.
Thaksin’s vision for Thailand includes restructuring public debt, reforming the agricultural sector, and making Thailand a global financial hub. By focusing on developing large-scale entertainment complexes with casinos as a key component, he believes Thailand can revive its sluggish economy and better compete with its Southeast Asian neighbors.
