The Thai government is planning to move faster in the implementation of the Eastern Economic Corridor project. (Source: VNA)Bangkok (NNT/VNA) - The Thai government isplanning to move faster in the implementation of the Eastern Economic Corridorproject.
Director of the State Enterprise Policy Office EknitiNitithanprapas, said on December 27 that the government is in a positionthat does not allow it to utilise the country’s annual budget for investment inthe EEC project as the money needs to be spent on numerous non-profit projects,such as the funding of hospitals.
At the same time, it is impossible to use money from theThailand Future Fund because the private sector would not be able to cope withthe risks associated with the project as there is only vacant land there rightnow, Ekniti said.
He added that public borrowing is also not viable as it coulddrive public debt up to the level of a financial crisis.
Therefore, the government has decided to adopt thePublic-Private Partnership (PPP) Fast Track approach and have PPP EEC TRACKhelp shoulder the investment cost.
Meanwhile, Secretary-General of EEC policy Kanit Sangsubhansays that the adoption of PPP EEC Track will mean the implementation of fiveprojects, including the development of U-Tapao Airport and aviation maintenancehub, a high-speed train system connecting three airports, and the expansion ofLaem Chabang Port and the Map Ta Phut Industrial Port — all of which will needno less than 600 billion THB in investment.
In addition, Minister Attached to the Prime Minister’s OfficeKobsak Pootrakool added that the PPP EEC Track will help speed up investment inthe EEC as the entire period of preparation will take less than 10 months andthe scheme is open to the involvement of both local and foreign investors.-VNA
VNA
