Although post-election sentiment among foreign investors remains unstable, the Eastern Economic Corridor (EEC) Office is confident it can finish all the auctions of five infrastructure projects by the end of April.
The five projects consist of a high-speed railway linking three airports (225 billion baht); U-tapao aviation city (290 billion); a maintenance, repair and overhaul (MRO) centre (10.6 billion); the third phase of Laem Chabang seaport (114 billion); and the third phase of Map Ta Phut seaport (55.4 billion).
Kanit Sangsubhan, the office's secretary-general, said the winning bidders of all five projects will be decided within April before being proposed to the EEC Policy Committee and the cabinet for their approval.
"The winning companies and consortiums can sign contracts for the projects before the new administration takes charge," Mr Kanit said. "The office is confident that all five projects will not face financial problems because Thailand will get financial support from Japan and China."
He said Japan and China signed agreements last May to encourage investment in Thailand from companies from both countries, and many of them will be joining all five projects as consortiums with local companies.
Japan and China also have a currency swap arrangement to allow the exchange of local currencies between the two central banks for up to US$30 billion.
Yesterday, the Japan External Trade Organization (Jetro) and the China Council for the Promotion of International Trade held a seminar, the Japan-China Workshop on Business Cooperation in Thailand.
Both countries brought 260 companies to the event, while the Federation of Thai Industries and the Thai Chamber of Commerce ushered in local companies for business networking.
Mr Kanit said the office aims to facilitate cooperation among the three countries with three potential sectors: transport and logistics, energy and environment, and smart cities.
"Many overseas investors are also interested in aviation, robotics and smart automation, and new regenerative medicine, which are expected to be part of the cooperation in the near future," he said.
In addition, the EEC Office will establish a new department to facilitate investors from Japan and China.
"In the past, Thailand was a destination of Japanese companies, but we expect Chinese investors to enter the flagship EEC scheme with their massive investment once all five megaprojects complete the auction procedures," Mr Kanit said. "We have the EEC Act of 2018, so no matter who becomes the prime minister, the office can mobilise the scheme to attract investment flows."
Masaki Ishikawa, director-general of Japan's Ministry of Economy, Trade and Industry, said that although the agency cannot foresee the general election's result or which political party will form a government, Thailand remains a manufacturing base for numerous products of Japanese companies to be exported worldwide.
Japan is still the largest foreign investor in Thailand, Mr Ishikawa said.
"Japanese companies will carry on their expansion and investment in the EEC," he said, "and we hope that the current political issue will not affect their decisions, as many projects are long-term investments."
Mr Ishikawa said the Japanese government will provide financial support for its investors in the three provinces that encompass the EEC through the Japan Bank International Cooperation.
Furthermore, the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development, a government-private sponsored fund, can also support infrastructure investment overseas through public-private partnership arrangements.