Thailand promotes investment in logistics infrastructure billions of dollars to promote economy

Laem Chabang Port, Thailand (Photo: Please Hua)

The Thailand Prime Minister's Office said: "The Thai government is currently promoting several large-scale water transport projects, including an industrial port development project in the Eastern Economic Corridor (EEC) district."

It is hoped that the construction of Thailand's waterway transport network will promote international trade for this export orientation of this export.

In the investment amount, about US$ 3 billion will be used to upgrade Laem Chabang port, in order to increase the capacity to transport import and export goods of Thailand. Besides Laem Chabang, the government plans to build and develop an automatic container wharf along the western harbor of Bangkok port in the future.

In order to support the international transport ecosystem of remote routes, the Government also wants to develop 29 public harbor on the Chao Phraya River to enhance the safety of waterway traffic and develop Laem Chabang into a smart port with interdisciplinary port. Multimunosure seamlessly with transportation systems such as cars and railways.

Despite the decrease in container freight rates, the Thai government still does not give up the establishment of a national transport company and is conducting a feasibility study.

In an interview with Bloomberg aired on February 28, Thailand's Finance Minister Arkhom Termpittayapaisith said that these infrastructure projects will protect the economy from weak exports.

In addition to the investments in the port, Arkhom said plans to build a high-speed railway connecting three airports.

Among the Southeast Asian economies, Thailand's economic growth reached 2.1% by 2022, down half of the 2021, making it the slowest-growing economy among ASEAN countries.

Source: Phaata.com (According to Container News)

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