Investment / Somkid Jatusripitak

Chatrudee Theparat

Key infrastructure projects in EEC should move ahead.

Major infrastructure projects including high speed train and U-tapao aviation city in the flagship Eastern Economic Corridor (EEC) should be continued in a bid to build confidence among foreign investors.

Former deputy prime minister and chairman of San Anakot Thai Party Somkid Jatusripitak said if one of the two significant projects -high speed train lining three airports and U-tapao aviation city- moves ahead, it will help boost confidence among investors, leading the EEC’s development to move smoothly. He proposed authorities should seek urgent solutions for the two projects.

A 260km high-speed train project linking Suvarnabhumi, Don Mueang and U-Tapao airports is worth 225 billion baht. The high speed train will take 45 minutes from Bangkok to U-Tapao airport, compared to 3 hours by car. Initially, it will have five stations Chachoengsao, Chon Buri, Si Racha, Pattaya and Rayong.

The State Railway of Thailand has yet signed a contract with the winning consortium led by Charoen Pokphand (CP) Group because the private company wanted to revise the contract after an investment return scenario has been changed due to the lower number of passengers hit by the Covid-19 pandemic.

“I think the government should make a decision soon in a bid to make the project move forward.”

The Airport Authority of Thailand (AoT) planned to expand Suvarnabhumi airport, but raised concern on the number of travelers of U-tapao airport to get hit. The Eastern Aviation City development is one of the five large government infrastructure projects in the EEC. The government signed a contract on June 19, 2021 with BBS consortium for the 290-billion-baht U-tapao aviation city.

The two projects would help restore the Thai economy, while the construction also would strengthen confidence among investors for the EEC development.

“The EEC development would strengthen Thailand’s position in the region, as well as competitiveness at the time when foreign investors are eyeing on Thailand as production base after the government announced to develop the project.”

The EEC Office reported that Thai-Saudi Investment Forum will be held in Bangkok Hotel on November 7 this year by the EEC Office and Thai Foreign Ministry with about 150 Saudi Arabia investors to participate.

Opening remarks for the forum will be led by Deputy Prime Minister and Foreign Minister Don Pramudwinai and Mr Khalid Abdulaziz Al-Falih, Minister of Investment of Saudi Arabia.

At the event, the meeting of Committee on Commerce, Industry and Banking (JSCCIB) and the Federation of Saudi Arabia Chamber of Commerce (FSCC), and the panel discussion on tourism, smart city, energy, petrochemical and conversion industries will be held.

Mr Somkid said Thailand will draw much more investment if the government takes a serious action towards the special economic zones development in the region such as Southern Economic Corridor and Northeast Economic Corridor and other SEZs, which would help strengthen the economy in remote areas.

The development for high speed train from northern to southern parts should be continued because the project would create greater benefits to Thai fruit export to China and the tourism industry.

He believed the global recession could take place in the near future. Then, the government should establish a war room to tackle the problems via a body of mixed representatives from the public and private sectors.

Mr Somkid also said the possibility of the war between China and Taiwan could affect to the supply chain because the Thai electronics industry has depended on raw materials from Taiwan. Therefore, the government should seek a precautionary solution to minimize the impact.