Smart city development in three provinces of the flagship Eastern Economic Corridor (EEC) is projected to draw as much as 100 billion baht over the next five years, helping upgrade the livelihood of residents there, according to the EEC Office.
According to Pojanee Artarotpinyo, the EEC Office's deputy secretary-general, the Board of Investment (BoI) has already approved three smart city development plans: at Wang Chan Valley in Rayong, Muang district of Chachoengsao, and Saen Suk municipality in Chon Buri.
She said the EEC Office aims to upgrade the living standard of people in the EEC and investment in smart cities as well as 5G development will play a key role in doing so for locals living and working in the EEC.
Ms Pojanee said the government established a committee to drive the smart city development, with the Digital Economy Promotion Agency functioning as the committee's secretariat.
She said smart city development can be implemented two ways -- upgrading existing cities to become smart cities, or developing new ones.
Each development project needs to seek the approval of a provincial committee before it moves to the committee handling the smart city development.
Once approved by the committee handling the smart city development, the development projects can apply to the BoI for promotional privileges.
The smart city initiative is designed to upgrade people's quality of life in seven "intelligent" areas: efficient transport, education and social equitability, life security, ease of doing business, efficient public services, green energy, and a clean and safe environment.
The BoI currently grants a corporate income tax exemption for eight years to investors who develop smart city infrastructure systems covering seven areas.
Investors who fail to develop smart city infrastructure in the seven areas are entitled to the tax exemption for only five years.
If the development projects are located in the EEC, they receive a 50% corporate income tax reduction for five years after the corporate income tax exemption expires.
Pailin Chuchottaworn, chairman of the Council of the Vidyasirimedhi Institute of Science and Technology, said Wang Chan Valley in Rayong spanning 3,400 rai is the only smart city that can be developed to meet all seven of the required aspects.
The Eastern Economic Corridor of Innovation (EECi), the innovation hub of the EEC, has been established in Wang Chan Valley.
The EECi concentrates on two categories of technology and innovation: Aripolis, a centre for research and innovation in automation, robotics and intelligent systems; and Biopolis, a centre for research and innovation in life sciences and biotechnology.