The tourism and sports minister has vowed to bring a Formula 1 (F1) street race to Bangkok, aiming to confirm the event by the end of this year.
Tourism and Sports Minister Sorawong Thienthong said he held discussions with the chief executive of Fédération Internationale de l'Automobile, which holds the rights to F1 racing, telling the group Prime Minister Paetongtarn Shinawatra would like Thailand to host an event in Bangkok, as announced earlier by former premier Srettha Thavisin.
Mr Sorawong said F1 has different licence types, such as circuit races in a stadium or street races in a city.
"F1 is not only about racing. It attracts automotive fans and millionaires from around the world to Thailand," he said.
Mr Sorawong said this event could create more "positive vibes" than other sports and typically generates more than 12 billion baht per event.
He said Thailand previously discussed holding an F1 street race in 2015, as proposed by former tourism and sports minister Chumpol Silapa-archa. At that time, the ministry studied an F1 route in the Rattanakosin Island area.
However, street construction in the old quarter is mostly built with timber piles, imposing limits on hosting the race.
Mr Sorawong said the street circuit might be changed to other areas in the capital, as the government is conducting a feasibility study for other sites. The authorities plan to issue an update in December, he said.
Meanwhile, another F1 circuit track is being planned by a group of private investors in the U-tapao airport city of the Eastern Economic Corridor (EEC).
EEC secretary-general Chula Sukmanop said the F1 project is in the design phase and the related authorities must obtain a licence in the next stage.
Mr Chula said although the track might be used for F1 races only two days a year, the track can be open to the public year-round for people who want to experience the prestigious racing environment.
In a separate event, the EEC and Thailand Convention and Exhibition Bureau are preparing to hold the Mini EEC Fair 2024 on Oct 7 to 9, hoping to increase investment for S-curve industries in three provinces in the EEC.
The fair is expected to generate at least 400 business matching deals worth 45 million baht, according to the organisers.
Mr Sorawong said the ministry is revising its 2024 tourism stimulus plan in preparation for a discussion with the Finance Ministry on the budget for the co-payment "We Travel Together" scheme, expected to be launched during the low season next year.