Chamber predicts B10bn Pattaya investment
Thailand’s private companies are set to pour up to 10 billion baht into improving and developing tourism-related businesses in Pattaya to tap benefits from the government’s flagship Eastern Economic Corridor (EEC), says the Thai Chamber of Commerce (TCC).
The activity will consist of pure investment in tourism, plus public-private partnerships (PPP) in Pattaya, a city that lies within the EEC zone spanning Chon Buri, Rayong and Chachoengsao provinces, said TCC chairman Kalin Sarasin.
“It will help improve the face of Pattaya, which has already become famous, as a new landmark for Thai and foreign tourists with plenty of attractive places,” Mr Kalin said.
He said the planned projects include shopping centres, water parks, nightlife attractions and a distribution centre for the One Tambon One Product scheme.
“These will be worth a combined 10 billion baht in investment from private firms in several projects,” Mr Kalin said.
He said the TCC has also spoken with the Japanese Chamber of Commerce (JCC) about asking the government for more flexibility in allowing Japanese investors to join in PPP investment.
President Soji Saki said the JCC is seeking an occasion to meet with policymakers on further development of PPP projects, as well as talk about a plan to generate more skilled labour to meet rising demand in the EEC.
Japanese investors have shown enthusiasm for the EEC but are wary of potential labour shortages, he said. The JCC also wants an update on the government’s latest plans for infrastructure megaprojects linking the EEC to other regions of Thailand and to neighbouring countries.
Mr Saki said the JCC will have to see clearer policy details pertaining to how the government will let private firms co-invest and how the two sides will bear their fair share of the risk.