Thai cabinet approves Eastern Economic Corridor free trade zone

20 Sept 01:25 Key points summarised by AI

The Thai cabinet approved upgrading the Eastern Economic Corridor (EEC) to a "free trade zone" to significantly boost investment and tourism.
Businesses within the EEC will receive extensive incentives, including income tax breaks, eased employment restrictions for foreigners, 24-hour recreational activity permits, and VAT exemptions for tourists.
Plans include transforming the EEC airport into a world-class aviation and logistics hub for ASEAN, with businesses in the "aviation city" benefiting from up to 15 years of corporate income tax exemption.
Foreigners will gain access to previously restricted jobs, while tourists and travelers will enjoy customs and excise tax exemptions on purchases of locally-made products and personal belongings.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.