Srettha meets in Italy with potential financiers, investors

Prime Minister Srettha Thavisin has revealed that he met in Milan, Italy, with Intesa Sanpaolo, a prominent financial institution specialising in international lending, and that they discussed the potential for financial support for Thailand’s Land Bridge project. 

Intesa Sanpaolo knows about the Thai government's plans to expand Suvarnabhumi, Phuket, and Chiang Mai airports and showed interest, and may follow up with more detailed discussions, Srettha said.

Intesa Sanpaolo Bank is also interested in green bonds, aligning with the Thai government's policy to issue bonds worth about US$1 billion in July. The demand is expected to be around 25%, or about $250 million. The government will conduct a roadshow in early or mid-July.

Meeting with the president of the Industrial Design Association, which organises large exhibitions, Srettha mentioned his desire for the association to hold an exhibition in Thailand. 

He acknowledged that Milan, as a city of design, serves as an inspiration for young designers. Therefore, he sought support to provide opportunities for young Thais to collaborate with the association on exhibition designs. This initiative received a positive response, he said.

After visiting the Autodromo Enzo e Dino Ferrari Circuit in Bologna and meeting with the track's executives, Srettha noted that Formula One holds more than 20 races annually across various cities worldwide, but not in Thailand. Therefore, the government intends to bring an F1 race to Thailand.

He said that if Thailand is chosen as a host for an F1 Grand Prix, the racetrack will be built in the U-Tapao area of Rayong province. He said he has discussed this plan with Chatchai Phromlert, chairman of the board of directors of PTT Public Company Limited, and Kavin Kanjanapas, director and CEO of BTS Group Holdings Ltd, which holds the concession for U-Tapao Airport and owns a significant amount of land in the area.

"The government is certain that Thailand is ready to build the racetrack as early as 2027 or at the latest by 2028, with major support from PTT. We believe the organisers and we are eager to make this happen. We are confident that there will be good news in the coming months," Srettha said.

He said that, at this stage, there hasn't been an assessment of the potential revenue that hosting the race might generate for the country. However, he observed that VIP tickets for an 
F1 Grand Prix cost between $5,000 and $8,000 per person. Additionally, there would be income from other sources, including sponsors and food sales.

In Rome, the prime minister had meetings with business executives from various sectors, including aviation and defence industries, insurance and life insurance, consumer goods, energy, and automotive companies. The purpose was to exchange knowledge and gather insights that could be applied for the benefit of Thailand. 

Additionally, he extended invitations to investors to help drive the country's economic growth.