Govt panel approves B1.3tn Chon Buri smart city plan

Govt panel approves B1.3tn Chon Buri smart city plan

Kanit Sangsubhan, secretary-general of the Eastern Economic Corridor Office, holds a press conference at Government House on Monday after a meeting chaired by Prime Minister Prayut Chan-o-cha. (Government House photo)
Kanit Sangsubhan, secretary-general of the Eastern Economic Corridor Office, holds a press conference at Government House on Monday after a meeting chaired by Prime Minister Prayut Chan-o-cha. (Government House photo)

A government panel has approved a plan to build a 1.34 trillion baht smart city in an industrial hub near the capital that’s already drawn billions of dollars of investment pledges from global automotive, robotics, healthcare and logistics companies.

A master-plan to build the city in Huai Yai subdistrict of Chon Buri province, some 160 kilometres southeast of Bangkok, was approved by a panel chaired by Prime Minister Prayut Chan-o-cha on Monday. The yet-to-be-named city will be spread over 14,619 rai (2,340 hectares) of land and will cost 1.34 trillion baht over the next 10 years, officials said. 

The project will comprise five business centres for companies to rent as commercial areas, Kanit Sangsubhan, secretary-general of the Eastern Economic Corridor, told reporters. These will include a hub to house regional headquarters of firms, a financial centre, and areas for precision medicine, international research and development, and future industries such as clean energy and 5G technology, he said. 

The residential quarter of the new city will be designed to accommodate 350,000 people by 2032, and generate 200,000 direct jobs, Mr Kanit said. Residents will be mostly those employed in the industrial area, which is set to draw investments of about 2.2 trillion baht over the next 5 years, he said.

“The new city will be liveable for the new generation of people as well as operate as business centres” Mr Kanit said. “We created this new project to compensate for the income Thailand lost during the pandemic.”  

The new city with its business centres can add an estimated 2 trillion baht to Thailand’s gross domestic product within 10 years, and the value of assets after a 50-year concession period will see a fivefold jump, the government said in a statement. 

Gen Prayut’s government has touted the Eastern Economic Corridor, a development project whose goals include urbanisation, spurring advanced industries and adding infrastructure, to bolster the nation’s pace of economic growth that lags behind neighbours such as Indonesia and Vietnam.

The Eastern Economic Corridor comprises three provinces that historically have been the country’s manufacturing hub and currently contributes as much as one-fifth of the Thai economy. Its output is growing 6%-7% each year, faster than the rest of the country, according to officials.

Do you like the content of this article?
COMMENT (8)

Myanmar junta plans poll with strict rules for political parties

Myanmar’s military government took an early step toward holding parliamentary elections, but it did so by imposing strict rules on political parties that may make fair balloting difficult.

11:14

Finance Ministry maintains growth outlook, expects more tourists

The Ministry of Finance has maintained its economic growth outlook for 2023 at 3.8%, buoyed by a rebound in tourism and domestic demand, but an official said exports would slow down this year.

10:48

FDA pulls pesticide-laced pot noodles

The Food and Drug Administration (FDA) has suspended sales of a Korean instant noodles brand after Taiwan's Food and Drug Administration (TFDA) announced that pesticide residue was found in some packages.

10:00