THE government unveiled draft legislation to create a special economic zone in the south of the country that would pave the way for a multibillion-dollar transport project linking the Indian and Pacific Oceans.
The Bill would establish a commission to speed up development of the Southern Economic Corridor in the provinces of Chumphon, Ranong, Surat Thani and Nakhon Si Thammarat, according to the transport ministry.
Prime Minister Paetongtarn Shinawatra’s Pheu Thai party is proposing the Landbridge project at a cost of about one trillion baht (RM130bil), to link two proposed seaports on either side of the country’s southern peninsula with a new highway and rail line.
The 100km connection would cut shipping times between the Indian and Pacific oceans by bypassing the Malacca Strait – a narrow sea lane between Malaysia and Singapore that is one of the world’s busiest ocean routes.
The draft Bill is being presented for public hearing before proceeding to the Cabinet and parliament.
Former Prime Minister Srettha Thavisin previously pitched the Landbridge project to overseas investors during visits to the United States and China.
Thailand aims to complete the project by 2030. Foreign investors will be allowed to own over 50% of joint ventures with local companies to build the infrastructure. — Bloomberg
