Thailand scraps new economic zones and plans regional linkups

Bangkok to focus on infrastructure in border towns over industrial parks

APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer

 

BANGKOK -- The Thai government is revamping its special economic zone strategy and pushing for links with those in neighboring countries, hoping to improve access within the region and secure tariff-free entrance for its goods into the European Union.

 

Deputy Prime Minister Somkid Jatusripitak recently said government agencies are drafting plans to develop some border areas, with the goals of boosting exports and providing jobs to narrow the urban-rural inequality gap.

 

"Thailand as a major player which is located in the center of the region should try to optimize these opportunities," said the deputy prime minister.

 

Full story: https://asia.nikkei.com/Economy/Thailand-scraps-new-economic-zones-and-plans-regional-linkups

 

-- NIKKEI ASIAN REVIEW 2018-2018-08-15

From the Nikkei article:

"The plans backfired by fueling property speculation and sending land prices substantially higher, driving up the costs of building the SEZs."

 

"Deputy Prime Minister Somkid Jatusripitak recently said government agencies are drafting plans to develop some border areas,"

 

 

Translation:

 

The "right" people bought the land cheap (before the plan was made public) and sold it high (when it was made public) so now it gets transferred to the border towns (where the right people have already bought again).

 

 

 

 

 

 

 

Edited August 15, 20187 yr by Enoon

Tariff free entry of Thai goods to the EU......but of course not offering tariff free of EU goods to Thailand.

Speculation of land purchases (by those in the know most likely) driving up costs of development, and now we have a fail fail.

Blatant greed on display as usual!

Now to start grovelling to neighbours and the EU.

So no more East Economic Corridor? 

they were advertising these zones extensively on CNN and I'm sure many other platforms. So what does this tell potential foreign investors?

15 hours ago, Enoon said:

From the Nikkei article:

"The plans backfired by fueling property speculation and sending land prices substantially higher, driving up the costs of building the SEZs."

 

"Deputy Prime Minister Somkid Jatusripitak recently said government agencies are drafting plans to develop some border areas,"

 

 

Translation:

 

The "right" people bought the land cheap (before the plan was made public) and sold it high (when it was made public) so now it gets transferred to the border towns (where the right people have already bought again).

 

 

 

 

 

 

 

And that is how it goes with almost every plan that is announced.

The main point is that there are enough opportunities for the "in-crowd" to get even richer, and further down the list they will see if there is any benefit to the country.

19 hours ago, webfact said:

pushing for links with those in neighboring countries

 

The new Union of Sino Socialist Republics (USSR) will bring more 7-11s to the people around SE Asia. Chai-yo!

So when the land was sold to the "right people" it then rocketed in price, so now the value before building makes it un-viable, end of economic zones!

21 hours ago, webfact said:

pushing for links with those in neighboring countries, hoping to improve access within the region

Is that to provide easier access by foreign skilled workers to EEC areas as Thailand currently cannot provide the necessary 30,000+ skilled workers required by foreign investors in the EEC?

Is this a joke, or is everything a joke?