Thailand to draft land bridge law after inputs from APEC investors
The Transport Ministry will use inputs from foreign investors at this week’s APEC (Asia-Pacific Economic Cooperation) Summit in the US to draft a special law governing the land bridge megaproject.
Chayatham Promsorn, Transport Ministry permanent secretary, said the ministry would gather opinions from foreign investors during the land bridge roadshow, being hosted by PM Srettha Thavisin in San Fransisco this week.
Chayatham is with the delegation PM and Finance Minister Srettha is leading at the APEC Economic Leaders’ Week in the US city.
The Transport Ministry plans to build two deep seaports – in Ranong and Chumphon –along with motorways and double-track railways to link them, as a new global trade route between the Pacific and Indian oceans.
Srettha has touted the project, estimated to cost 1.4 trillion baht, to global investors at several international forums.
Chayatham said US investors also expressed interest in the project, prompting the government to organise the roadshow on APEC’s sidelines this week.
“The roadshow will hear what conditions investors are seeking for their investments in Thailand,” Chayatham said.
“There must be a special law [governing the project] like the one for the Eastern Economic Corridor. We will compile opinions gathered at the roadshow to see what can be done under current laws and what needs a special law.”
A special law for the new megaproject will be drafted within two years and include a special administration to take charge of the project. Foreign investors would then be invited to invest in the project, Chayatham said.
