Delays to key infrastructure projects in EEC discourage foreign investors

[webfact]

Foreign investors are reluctant to invest in the Eastern Economic Corridor (EEC) because of delays in some major infrastructure projects, among them the high-speed train linking U-Tapao, Suvarnabhumi and Don Mueang airports, according to the State Railway of Thailand (SRT) and government sources.

 

The high-speed train project has been delayed for four years, since the signing of the contract between the SRT and Asia Era One Company on October 24th, 2019.

 

Recently, Asia Era One was given until May 22nd to seek investment promotional privileges from the Board of Investment (BoI), so the SRT can issue a Notice to Proceed (NTP) with project implementation.

 

Asia Era One, formerly known as the Eastern High Speed Rail Linking Three Airports Company, is a joint venture between Charoen Pokphand Holdings, which holds a 60% stake in the company, and Bangkok Express Metro, China Railway Construction Corporation, Italian-Thai Development Corporation and CH Karnchang Company, each of which holds 10%.

 

Picture: Laem Chabang Port in Chonburi province. (Photo by EEC)

 

Full story: Thai PBS 2024-02-19

 

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[stoner]

i HOPE things go WELL for these projects and there is not repeat performances like in the past. 

[hotchilli]

Thai politics is harming the country, foreign investors want stability not in-house petty squabbling and power games.

[ikke1959]

7 minutes ago, hotchilli said:

Thai politics is harming the country, foreign investors want stability not in-house petty squabbling and power games.

I agree, the non political stability does more harm than other things. Besides that there always issues with visa  rules and restrictions and laws as Thailand is not open country but everything is focused on the inside. Thailand is missing the boat as it can not change things and enter the 21st century

[bamnutsak]

I don't see how "politics" or "squabbling" is affecting "stability". The State has full, absolute, and complete power.

 

This government is simply incompetent. AFAIK, not a single thing has been accomplished by this government or this parliamentary session.

 

Instead of moving existing projects forward, for which there is known demand, the "government", in the form of the ill-equipped PM, is out pedaling "Land Bridges", and seeking amorphous foreign investments.

 

 

 

 

Edited February 19 by bamnutsak

[hotchilli]

1 minute ago, ikke1959 said:

I agree, the non political stability does more harm than other things. Besides that there always issues with visa  rules and restrictions and laws as Thailand is not open country but everything is focused on the inside. Thailand is missing the boat as it can not change things and enter the 21st century

I'm not sure it's entered the 20th century yet?

[Andycoops]

2 hours ago, hotchilli said:

Thai politics is harming the country, foreign investors want stability not in-house petty squabbling and power games.

Or the unelected senate usurping the will of the people and the losers get to form a non representative government.

[BayArea]

Realistically,  there's several more factors discouraging foreign investment in Thailand than just delays. 

[damian]

From the article:

 

The official said that the SRT can either amend the joint investment contract with Asia Era One, by deleting the requirement for Notice to Proceed (NTP), or revoke the contract and call a new bid.

 

AE1 is probably hoping for the latter. They must be Haemorrhaging money waiting for this EEC to ripen. Its not the railway that's delaying the project. 

 

They would be better off asking for an amendment and only do the Don Muang - Suvarnabhumi link. 

[redwood1]

55 minutes ago, BayArea said:

Realistically,  there's several more factors discouraging foreign investment in Thailand than just delays. 

 

H-O-P-E-W-E-L-L

[newnative]

Everything just way too slow.  Deadlines always missed, even when they are ridiculously distant in the future.  Highspeed train 4 years late and counting--why?  Incompetence at every level.  But, let's form another committee to study it, with a report due in a few years . . . maybe.