The Thai government is planning to move faster in the
implementation of the Eastern Economic Corridor project. (Source: VNA)
Director of the State Enterprise Policy Office Ekniti Nitithanprapas,
said on December 27 that the government is in a position that does not
allow it to utilise the country’s annual budget for investment in the 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 the Thailand Future Fund
because the private sector would not be able to cope with the risks associated
with the project as there is only vacant land there right now, Ekniti
said.
He added that public borrowing is also not viable as it could drive public debt
up to the level of a financial crisis.
Therefore, the government has decided to adopt the Public-Private Partnership
(PPP) Fast Track approach and have PPP EEC TRACK help shoulder the investment
cost.
Meanwhile, Secretary-General of EEC policy Kanit Sangsubhan says that the
adoption of PPP EEC Track will mean the implementation of five projects,
including the development of U-Tapao Airport and aviation maintenance hub, a
high-speed train system connecting three airports, and the expansion of Laem
Chabang Port and the Map Ta Phut Industrial Port — all of which will need no
less than 600 billion THB in investment.
In addition, Minister Attached to the Prime Minister’s Office Kobsak Pootrakool
added that the PPP EEC Track will help speed up investment in the EEC as the
entire period of preparation will take less than 10 months and the scheme is
open to the involvement of both local and foreign investors.
Source: VNA
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