The government in Thailand is to offer permanent residence status to those who are buying condos in the kingdom. PM Supattanapong Punmeechaow, the Energy Minister has blueprinted some strategies, which the government thinks that it will assist the economy to recover from the fallout. Alongside, changes to quarantine and incentives are also under discussion.
The SEZ covering the provinces of Chon Buri, Chachoengsao, and Rayong continue eyeing on foreign investors with a large number of infrastructure projects. Of all, a high-speed rail link between airports to Don Mueang, Suvarnabhumi, and U-Tapao. Additionally, there’s also a plan for a third terminal as well as an aviation training center.
It was just last year when Airbus executed a multi-billion baht project jointly with Thai Airways and developed a maintenance hub.
Coming to the strategies, the Board of Investment is equally considering a wide range of incentives so as to encourage foreign investors in order to buy property in Thailand. Therefore, the government is offering a PR status to those who buy condos in the country, provided they don’t transfer or sell it or mortgage it within 5 years.
As far as foreign arrivals are concerned, the government said that they will give clarification on this sometime. To this, he also added that the current quarantine period i.e., 14 days, maybe reduced. Having said, this would be applicable only to those who are traveling from low-risk countries. Understandingly, the Public Health Ministry is simultaneously working to categorize countries into three zones namely, low, medium, and high to determine the new quarantine period.
Also, the officials are trying to encourage foreigners to increase their spending from the present average of 50,000 baht to 100,000 baht per person. In the meantime, the Thai government continues to focus on domestic tourists and residents through stimulus measures, which includes a co-payment scheme that is targeted to boost spending.
