Prayut suggests reviving East-West canal plans
The Thai government is planning to attract more foreign investment with the building of the Kra Canal, Prime Minister Prayut-Chan-ocha said after the cabinet meeting on Tuesday.
Prayut said his government is now concentrating on stimulating domestic demands while reducing the country’s economic dependency on external demand as part of the short-term plan to cope with the impact of the coronavirus pandemic.
For the long term, the coalition government will focus on infrastructure projects including the redevelopment of the Eastern Economic Corridor, followed by the possibility for the Kra Canal which is also known as the Thai Canal or a “land bridge.”
“Even though we already have the EEC, we also need to come up with a new mega project to attract more investment to Thailand,” he said.
“The EEC started five years ago so there is need to look for a new project such as the connection and transport between the East and West including the land bridge which is now being considered,” he added.
The prime minister also said that the project should be able to help with Thailand’s economic expansion in the long-term and government agencies have been instructed to look into investment plans for the project.
Saksayam Chidchob, the Minister of Transport, said in August that the ministry is studying a project about deep seaports that will be 15 meters in depth to connect the Andaman Sea and the Gulf of Thailand through the ports in Chumphon and Ranong.
He said the ministry is looking at the cost-benefit of the investment and the impact of the project on the local people. He added that they are looking at two possibilities: to redevelop the existing ports or land reclamation for new ports to be built on.
The Kra Canal project is one of Asia’s most ambitious projects; however, it has yet to be built even though there have been centuries of research dating back to King Rama I.
Critics said it would never happen because the Singapore government keeps lobbying various Thai governments, including Thaksin Shinawatra’s administration, from building it.
https://www.thaienquirer.com/18042/pray ... bout-coup/
Translation: foreign investment = Chinese money