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FRIDAY, June 09, 2023
Massive investment planned for new Smart City in Eastern Economic Corridor

Massive investment planned for new Smart City in Eastern Economic Corridor

THURSDAY, December 29, 2022

The government will invest 1.35 trillion baht to transform the eastern seaboard’s Eastern Economic Corridor (ECC) into a regional financial hub and a world-class smart city by 2037, deputy government spokesperson Rachada Dhnadirek said on Thursday.

In the first 10 years, the focus will be developing the business and financial area, regional business offices, government offices, medical facilities, and educational centres, she said.

This will be followed by creating a world-class smart city by 2037 to serve as a model for the development of smart cities across the country, Rachada added.

The smart city will be known for an innovative technological system that covers seven main areas: smart mobility, smart energy, smart environment, smart living, smart people, smart economy, and smart governance, she said.

The corridor spans three eastern provinces: Chon Buri, Rayong, and Chachoengsao.

Rachada said that most of the 1.35 trillion baht investment – 1.18 trillion or 87.5% – would come from the private sector, while 37.6 billion (2.8%) would be contributed by the Thai government, and the remaining 131.1 billion (9.7%) by state enterprises or joint ventures between the public and private sectors.

She said the 1.35-trillion-baht investment would expand gross domestic product by 2 trillion baht within 10 years.

The EEC smart city is expected to have about 350,000 residents by 2032, she said. At least 200,000 new jobs are expected to be created by that time. It will generate more than 1.2 trillion baht in salaries for employees and create between 150 and 300 start-ups, she said.