The fast-tracking of the 193-kilometre Bangkok-Rayong high-speed rail project under the public-private partnership (PPP) scheme is set to spur development of the Eastern Economic Corridor (EEC).

The project, valued at 153 billion baht, will help to build up Chon Buri, Rayong and Chachoengsao as locations for a high-tech industry cluster.

The Transport Ministry has put the project on the fast track for consideration by the PPP committee chaired by Deputy Prime Minister Somkid Jatusripitak this month.

After consideration, the ministry is likely to call a bid to find a developer for the rail route, probably next year.

Mr Somkid said government agencies have already completed criteria of projects to be operated in the EEC. The criteria will be discussed by the cabinet this month.

The government will also include the development of U-tapao airport, which will be a commercial airport to support logistics in the EEC and serve the tourism industry in eastern provinces.

Chuk Samet harbour in Chon Buri will be developed as a tourism port catering to yachts and ferries to connect travel between Pattaya and Cha-am in Phetchaburi.

In June, the cabinet approved the EEC framework. The government expects to allocate 300 billion baht to finance infrastructure projects. Some projects will be invested under the PPP scheme.

The EEC scheme is expected to draw around 1.9 trillion baht of private investment in both infrastructure projects and industrial projects such as petrochemicals.

The corridor will link the Dawei megaproject in Myanmar with the eastern region of Thailand.

The EEC will be a location for 10 target industries that will help Thailand to become a high-technology country.

Some key financial and investment regulations will be amended to attract investors, notably permission for foreign investors to use any currency for investment and trade.

The government may even use Section 44 to allow foreigners to do business in aviation, which requires Thais to be major shareholders.

Source:
courtesy of BANGKOK POST

by Chatrudee Theparat

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