The government aims to complete drafting the terms of reference (ToR) for five joint public-private investment projects worth 600 billion baht in the Eastern Economic Corridor (EEC) by the second quarter of 2018 as part of measures to kick-start private investment.
The five targeted projects are the Don Mueang-Suvarnabhumi-U-tapao high-speed rail network worth 236 billion baht; the U-tapao airport and Eastern Airport City worth 200 billion; an aircraft maintenance centre at U-tapao airport worth 10 billion; the third phase of Map Ta Phut port worth 11 billion; and the third phase of Laem Chabang deep-sea port worth 150 billion, said EEC Office secretary-general Kanit Sangsubhan.
The high-speed rail project's ToR will be issued by early February, he said, U-tapao airport and Eastern Airport City's by May, the aircraft maintenance centre's by May and the Laem Chabang third phase's by June.
A joint venture of Airbus and Thai Airways International to develop a maintenance, repair and operations (MRO) facility at U-tapao airport will see a contract signing by February.
The government is promoting the EEC, which spans more than 30,000 rai in the three eastern provinces of Chon Buri, Rayong and Chachoengsao, as the home of next-generation industries and a flagship project for boosting the country's economic growth to its potential of 4-5% and sustaining it for the long term.
Investment in the three EEC provinces in the first nine months of 2017 amounted to 104 billion baht, with investment in the 10 targeted industries making up 67.8 billion.
The government has offered a series of tax perks to draw both local and foreign investors to the EEC. Those incentives include an eight-year corporate income tax exemption but not more than 100% of investment value; an exemption from import duties on machinery; a one-year exemption from import duties on raw or essential materials imported for use in production for exports; permission to bring in foreign skilled workers and experts; and the right to lease state land.
Mr Kanit said German carmaker BMW has applied for Board of Investment incentives for a project to make plug-in hybrid electric vehicles in the EEC.
Investors around the world are watching the EEC, and Chinese and Japanese investors will take part in a meeting with the Thai government on the flagship project, Mr Kanit said, noting that British investors have asked for an investment plan for ports in the EEC.
The EEC Office will conduct a market sounding to explore investor demand and set investment criteria for the EEC, he said.
Ekniti Nitithanprapas, director-general of the State Enterprise Policy Office, said the period of seeking partners from the private sector for the five joint investment projects will be shortened to 8-10 months from 40 months under normal circumstances.
Prime Minister's Office Minister Kobsak Phutrakul said the five projects' auctions must be completed in 2018.
The government expects the project bids to receive a warm welcome from investors around the world, he said.