Thailand Says $44 Billion Project Can Link to Belt and Road

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Thailand Says $44 Billion Project Can Link to Belt and Road
By Haslinda Amin
and Anuchit Nguyen
June 21, 2017, 9:49 PM PDT Updated on June 22, 2017, 3:56 AM PDT

    Southeast Asian nation seeking to develop eastern seaboard
    Industry minister says China, Thai plans mutually benefical

Thailand said a $44 billion plan to add infrastructure and upgrade industry on its eastern seaboard can link up with China’s Belt and Road Initiative, as part of a push to encourage economic growth.

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Thailand to integrate the Eastern Economic Corridor with China’s One Belt One Road Initiative
February 10, 2018

https://www.aseantoday.com/2018/02/how-will-the-eec-integrate-with-the-obor/

The Thai government intends to connect the Eastern Economic Corridor (EEC) to China’s One Belt One Road (OBOR). How will the move benefit the two countries?

Editorial

Since 2017, the Thai government has explored plans to connect the EEC to OBOR Initiative. The Chinese OBOR strategy aims to create trade connections between Asia, Africa, the Middle East and Europe. The EEC is the Thai government’s development plan. It will bring about tremendous opportunities for Thailand in the next decade.

The two strategies will be synergetic by nature

The US$44 billion EEC is expected to turn Thailand’s Eastern provinces into a trade and industry hub. The government hopes the EEC will create 100,000 jobs a year by 2020. The majority jobs will be in the manufacturing and service industry. Investors will also receive favourable conditions under the EEC.

The US$125 billion OBOR is a mega infrastructure project. It involves 70 countries and international organisations. It will strengthen bilateral trading ties between China and Thailand. It will also help boost cultural exchanges.

Connectivity is essential for both plans. Thailand Prime Minister Prayut Chan-o-chadeliver his national address on 12 May 2017. He said that Thailand needs to develop infrastructure with China to facilitate connectivity. A high-speed China-Thailand railway under OBOR is under construction. It will be the first high-speed railway in Thailand. The railway will connect Thailand to Laos and Kunming in China. Submarine cables will connect Bangkok with Hong Kong and mainland China. This extensive connectivity will boost tourism and attract investment.

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From: https://www.aseantoday.com/2017/05/thailands-eastern-economic-corridor-will-this-be-another-failed-project-in-asean%ef%bc%9f/

The Eastern Economic Corridor will diversify the Thai economy and create a booming economic hub on the Eastern Seaboard.

by Oliver Ward

Investment has been pouring into Thailand’s Eastern Economic Corridor (EEC) as foreign companies sniff out investment opportunities and seek to turn the three eastern provinces of the country into a technological manufacturing hub. But as foreign investment increases, Thailand’s government are risking turning their Thailand 4.0 dream into an illusion.

The project hopes to turn the Chonburi, Rayong and Chacoengsao provinces in the east of the country into a special economic zone by 2021. It will be achieved by improving transport connectivity in the region and by ploughing investment into manufacturing and service industries.

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Improved connectivity and infrastructure will create a manufacturing hub

To kick-start the EEC, the government have selected five projects of high priority. Most of these are aimed at increasing infrastructure in the area to support the prospective economic opportunities.

The U-Tapao airport is being extended to increase its capabilities. A second runway is planned, along with a 2.24 million square foot second terminal.

Laem Chabang Port will also be developed to handle increased traffic. The port is expected to increase its container accommodation from 7 million to 18 million a year. Car export accommodation is also expected to rise from 1 million to 3 million units a year. The development projects will establish Laem Chabang as a gateway to ASEAN and the region.

High Speed Rail projects are in the pipeline. The plan is to link Bangkok to Rayong with a high-speed rail line, thereby putting three airports within one hour. The railway will be able to accommodate 110 million passengers a year.

The most lucrative development project could be the addition of a double track railway between sea-ports and industrial zones. According to Deputy Prime Minister Somkid Jatusripitak, the project aspires to link to China’s One Belt One Road initiative. Connecting Bangkok with Laos and Kunming in China.

Once fully operational, the EEC is expected to create around 100,000 new jobs and increase Thailand’s GDP by 5% annually.

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