The cabinet has given the green light for a specialized 10-year visa intended for executives and experts engaged in activities within the Eastern Economic Corridor (EEC) to further boost targeted industries in the nation.
Following a mobile cabinet meeting in Phetchaburi province, deputy government spokeswoman Rudklao Intawong Suwankiri noted the approval of the EEC visa proposal by the EEC Office. The primary aim of this visa is to attract specialized professionals from various sectors to work in the corridor.
This long-term visa is valid for a decade and permits multiple entries and exits, aligned with the duration of the individual’s employment contract. Initially, the visa allows up to a five-year stay in Thailand.
The EEC visa features four distinct categories: specialists (EEC Visa “S”), executives (EEC Visa “E”), professionals (EEC Visa “P”), and spouses and dependents (EEC Visa “O”).
Specialists residing and working in the EEC will also benefit from a reduced personal income tax rate of 17%, in contrast to Thailand’s current progressive income tax rate peaking at 35%, as announced by Mrs. Rudklao. This initiative is envisioned to bolster the country’s targeted industries and enhance national competitiveness.
In a separate development, Prime Minister Srettha Thavisin directed the Agriculture and Cooperatives Ministry to craft a plan focusing on enhancing agricultural infrastructure. The objective is to position Thailand as a key hub for farming and food in the region, with a goal to triple farmers’ income.
Government spokesman Chai Wacharonke, speaking post-cabinet meeting, emphasized that this directive from the Prime Minister aligns with Thailand’s aspiration to become a pivotal agricultural and food hub, contributing significantly to global food security. Various agencies have been tasked to finalize related project plans by the end of May, with the Agriculture and Cooperatives Ministry set to provide detailed announcements by month-end and expedite actions by June.
The agricultural infrastructure enhancement plan encompasses various elements, including fostering Thailand as a global center for plant genetics, improving water retention and drainage efficiency, enhancing irrigation capabilities, developing water sources for agriculture, conducting soil testing, and advocating proper fertilizer usage across all regions.
Urgent priorities involve combatting agricultural burning through satellite technology, proposing and accelerating the production of disease-resistant cassava, devising disease management plans, and encouraging coffee and cocoa cultivation for income diversification to reduce burning in highland regions.
Moreover, the cabinet has sanctioned a Memorandum of Understanding between Thailand and Saudi Arabia to cultivate agricultural cooperation between the two nations.
