700 billion baht EEC project get the go ahead

The Government plans to develop the country’s infrastructure further with projects similar to that of the Easter Economic Corridor in an effort to get Thailand out of the “Middle-income trap.”

The Prime Minister made the announcement after the government approved a 700 billion baht budget for the improvement of the eastern seaboard.

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The improvements will include high-speed rail links, a new airport and extensions to the regions port and industrial areas.

The Government plans to seek investment from local and foreign businesses to fund future projects in other regions.

The EEC secretary-general Kanit Sangsubhan said on Thursday that the budget for the four EEC projects will be open to the private sector to invest in.

This came following an announcement from the Finance Minister that the EEC infrastructure projects will not receive funding from the government budget.

The committee plans to attract investment over the next five years targeting China and Japan as main sources of investment.

To prepare proposals for the project is expected to take roughly four months and to select investors is expected to take a further five months.

Source : The Nation

Content : LovePattayaThailand

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