Thailand woos China, Japan, South Korea to invest Eastern Economic Corridor

Thailand woos China, Japan, South Korea to invest Eastern Economic Corridor

Source: savanpark.com

Source: Xinhua | 2016-09-12 19:59:46 | Editor: huaxia

BANGKOK, Sept. 12 (Xinhua) -- Thailand planned to invite China, Japan and South Korea to invest the country's Eastern Economic Corridor (EEC) project, said a Thai government official on Monday.

Deputy Prime Minister Somkid Jatusripitak will lead a group including delegations from the Thai public and private sectors to address the EEC projects to investors from China, Japan and South Korea, expecting them to take part in the Eastern Economic Corridor establishment, said the official attached to government house.

The EEC project, approved by the current Thai government under Prime Minister Prayut Chan-o-cha, will be implemented in three eastern provinces, namely Chachoengsao, Chonburi and Rayong, aiming at developing the area into a leading economic zone in ASEAN.

It is estimated to cost as much as 40 billion U.S. dollars in five years to implement the EEC project. Of that estimated total, some 16 billion U.S. dollars will be spent on the construction and improvement of infrastructures throughout the EEC area, the official said.

The infrastructural development plans, designed by the Ministry of Transport to be implemented in 12 years, include the stretching of a six-lane motorway throughout the eastern seaboard area between Chachoengsao and Rayong, the improvement of U-tapao international airport to accommodate an estimated 3 million passengers annually and the expansion of Laem Chabang deep-sea port to facilitate export cargoes.

Besides, the investment projects include a dual-track railway, with the first section from Chachoengsao to Khlong Sip Kao and Kaeng Khoi, and the second section from Bangkok to Rayong.

In addition, an existing airport link system will be expanded to link Don Muang and Suvarnabhumi international airports in the northern and eastern outskirts of the capital Bangkok with U-tapao international airport in Rayong.

Industrial estates are to be built or expanded in Mabtaput, Laem Chabang and Chachoengsao areas to facilitate the export-bound manufacturing sector under the EEC projects.

Tourist spots throughout the EEC area, with the world-renowned beach resort of Pattaya as its centerpiece, are to be developed to lure many more visitors from overseas, given local natural attractions and those infrastructural plans.

http://news.xinhuanet.com/english/2016-09/12/c_135682518.htm

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