Bangkok Governor Chadchart to attract growth from multinationals
In a bid to stimulate economic growth, Bangkok Governor Chadchart Sittipunt intends to transform the city into a base for multinational corporations. This initiative, according to Chadchart, should dovetail with the government’s strategies as it would bolster the city’s economy and generate employment opportunities.
“Urban centres are essentially labour markets. The reason people reside in such areas is the availability of jobs. To generate employment, our goal is to attract global businesses to Bangkok. The influx of reputable firms will yield job opportunities. The advantages will also extend to those who own rental properties, taxi operators, restaurant owners, and farmers.”
Chadchart emphasised that the Bangkok Metropolitan Administration regularly interacts with foreign investors, businesspersons, and expatriates to understand their requirements. He said this shows a dedication to bringing multinational corporations to Bangkok.
“This demonstrates that the BMA is investor-focused.”
He further outlined plans to establish a one-stop service centre to assist foreign investors and film crews. The 57 year old Bangkok chief ended on a positive note, praising the city’s current living conditions.
“I would appreciate the opportunity to discuss with the government the potential of this idea to generate revenue for Bangkok. Bangkok is an excellent place to live at the moment. There are numerous positive factors, including affordable office spaces, international schools, and hospitals capable of serving staff from multinational companies.”
In May, Chadchart urged the incoming government to reevaluate the recently implemented land and building tax rules, as the city’s revenues have seen a significant decline since the new rates were introduced earlier this year.
Previously, the Bangkok Metropolitan Administration set the land and building tax rate at 12.5% of the income generated by a plot of land. However, under the new rules, the tax is determined based on the plot’s value alone.
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