The Governor of the Bank of Thailand (BOT) has issued a warning about the potential for the legalisation of casinos to tarnish Thailand’s international reputation, portraying a “grey” image and posing economic risks.
Dr Sethaput Suthiwartnarueput stressed the importance of the nation maintaining a “correct” and “clean” profile by adhering to regulations.
Speaking at a “Meet the Press” event on Friday, he voiced his support for bolstering the wellness sector as a higher-value, lower-risk alternative to entertainment complexes.
Dr Sethaput explained that Thailand’s current economic objectives should extend beyond simply attracting large tourist numbers. He argued for a greater emphasis on generating “value added,” citing the potential of areas like elderly care, which caters to a global market.
He acknowledged Thailand’s existing tourism infrastructure but emphasised the need for continuous improvement.
However, his primary concern lay with the backdrop of significant global uncertainty. In this context, he asserted that Thailand must project an image of integrity and transparency.
Referencing Moody’s recent assessment of Thailand’s adherence to rules and ethical conduct, Dr Sethaput highlighted the risks associated with casinos, suggesting they could create a “grey” perception of the country, which he deemed a significant vulnerability.
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