Several foreign investors are now keen to invest in megaprojects including an electric rail line linking the airport in the southern island of Phuket with the city and a tunnel which could solve traffic problems once they are completed, said Phuket Governor Wichai Praisangob.
Mr Wichai said after meeting with a senior executive of the Pan-China Construction Group that the Chinese firm is interested in investing in the rail line and other projects related to tourism on the island, known as the “Pearl of the Andaman”.
Senior executives of the firm will conduct a feasibility study later, he said, adding that the province will send such foreign investment plans to the government for its consideration.
The Phuket rail link project has received immense interest from foreign investors, especially from China, said Mr Wichai. Executives from another major Chinese firm plan to meet with Phuket officials and the private sector on September 10 to discuss the project, aimed at solving the chronic traffic problem on the island.
A South Korean firm wants to invest in building a tunnel in Pa Tong, designed to ease traffic there as motorists have to drive up the hill, he said.
Somboon Jirayus, president of the Phuket Tourist Association, said enthusiasm shown by foreign investors, especially in the rail line, meets the need of the islanders as it could cater to tourism growth.
Phuket is prepared to welcome foreign investment which poses no negative impact on environment, said Mr Somboon.
Asian cities most threatened by environmental risk
According to the first instalment of Cities@Risk series, which ranks the world’s 576 largest urban centres on their exposure to a range of environmental and climate-related threats, 99 of the world’s 100 riskiest cities are in Asia, including 37 in China and 43 in India.
Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI
The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.
The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.(more…)
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