Government aims to revamp Khao San Road

Two ratings agencies have raised Thailand’s long-term foreign-currency issuer default rating; Moody’s raised it from stable to positive last week while Fitch raised the outlook to positive the week before. Moody's said that the raise was due in part to the fact that Thailand is building a long track record of transparent and predictable fiscal and monetary policies that maintain a broadly stable and low government debt burden, low and stable inflation and financial stability. Fitch’s said that the formation of a new civilian-led government after elections has contributed to the view that the country, while it still faces political risks, they are unlikely to derail sound macroeconomic management. Thailand’s large current account surplus, equity and debt in-flows have shown it to have safe haven status in the current market.

The government plans on revamping Khao San road to make it a more pedestrian friendly by repaving and leveling the sidewalks and then refinishing them with new tiles. Street vendors will be assigned fixed trading spaces on the sidewalks with 60cm-high collapsible stainless railings built to clearly divide it from the road but still give pedestrians room to walk. The vendors will be permitted to be open from 9am to 9pm and no pushcarts or vending stalls will be allowed. The vendors will be asked to rotate every two years to bring in new vendors and new items.

Trang Airport is undergoing expansion and renovation as the province sees more tourist arrivals. The runway is being lengthened and a new terminal being built and when completed will be able to welcome up to 1,200 passengers per hour or 3.4 million a year, up from 800,000 passengers a year at present. The new longer runway should accommodate larger aircraft for more international arrivals.

Work Permit

Any foreigner working in Thailand must obtain a Work Permit before beginning work. While a prospective employer may file an application on the foreigner’s behalf in advance of his starting work, the actual Work Permit will not be issued until the foreigner has entered Thailand in accordance with the immigration laws and has presented himself to receive his Work Permit.

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