Phitsanulok is expected to play a vital role as related parties step up efforts to upgrade the lower northern province to an economic hub linking Laos, Myanmar and southern China.
"We have high hopes that the regional economic integration and the sought-after high-speed train will create more opportunities in the province," said Viroj Jirattikanchote, vice secretary-general to the Thai Chamber of Commerce for Phitsanulok province.
"Most local people fully support high-speed train development because it can help redistribute income to the province."
According to Mr Viroj, the provincial chamber asked the mobile cabinet earlier this year to position Phitsanulok as a healthcare hub in the lower North, noting that the province boasts several private hospitals and a medical school at Naresuan University.
The university's teaching hospital has requested government help to offer better services for foreigners, especially well-heeled patients from Myanmar and Laos.
Private hospitals in the province include Pitsanuvej and Ratanavej.
Mr Viroj said Pitsanuvej is in talks to sell its stake to Bumrungrad Hospital Plc (BH), the country's second-largest listed hospital operator, while Bangkok Dusit Medical Services Plc (BGH), the country's biggest hospital chain, is reportedly taking over Ratanavej.
BH chairman Chai Sophonpanich said in August that BH was in talks for a 51% stake in a privately owned hospital in Phitsanulok province. The deal, worth 2-3 billion baht, is expected to be done by year-end.
The Thai chamber in Phitsanulok is already promoting the province as a medical hub for Myanmar people. The group has invited its counterparts in Mawlamyine to have a first-hand look at the hospitals in Phitsanulok in October.
Mawlamyine is a 20-minute drive to Mae Sot, which is 200 kilometres from Phitsanulok.
The province also has tourism draws like Buddhist temples and natural beauty.
Mr Viroj said the private sector wants a third bus terminal and logistics centre in Phitsanulok as part of upgrades to strengthen the North-South Corridor linking northern Thailand and southern China and the East-West Corridor linking Mae Sot and Phitsanulok with Laos and Vietnam's Danang.
The new bus terminal and logistics centre is part of the government's 2-trillion-baht infrastructure plan.
Mr Viroj said the private sector is also conducting a study of how to promote the province as an agro-industry centre for the lower North and increase the value of rice and tapioca.