Expediting infrastructure development 'key to securing investments'

This includes revitalising the Ranong Port project and opening a trade route to India to position Thailand as a hub for maritime logistics in the region.

According to Fetco chairman Kobsak Pootrakool, the conflicts between major powers such as China and the United States, as well as the wars in Europe between Russia and Ukraine, along with various geopolitical conflicts worldwide, have resulted in the movement of investment towards the Southeast Asian region, particularly Vietnam, Indonesia, and Thailand.

Every country has policies to attract investment, and drawing key industries to set up production bases in Thailand would bring significant changes to each country's production capabilities within the next five years, he said. “If Thailand cannot draw these crucial industries to establish their production bases in the country within the next five years, we will lose competitiveness,” he warned.

In addition to existing policies and measures to attract investments, it is crucial for the new government to proactively accelerate the development of key infrastructure, especially in the EEC. This includes the high-speed railway connecting three airports (Don Mueang, Suvarnabhumi, and U-Tapao), the development of Phase 3 of Laem Chabang Port and Phase 3 of Map Ta Phut Port, as well as the development of U-Tapao Airport and Aviation City. If the next government can complete all these delayed projects within 1-2 years, it would instil confidence in businesses and investors that Thailand is ready to accommodate new investments, he said.

There are many policies that political parties have advocated, but they have not addressed the issue of investment in infrastructure projects and pushing forward projects that are already prepared, such as those in the EEC, he said. “Any government can continue to drive these projects forward because the infrastructure is already in place. If we venture into other areas, it will take a long time to study and legislate. Therefore, if all delayed projects can be done within the next 1-2 years, it should boost the confidence of businesses to invest in Thailand,” Kobsak said.

Another mega-project that the new government should promote is the Western Port, which will enhance Thailand's maritime transport capacity to large countries towards the west, such as India. The development of Ranong Commercial Port, which the previous government had pushed for, should be revitalised to serve as a western gateway in the Special Economic Zone of the Southern Economic Corridor in Thailand. If this port can operate as a commercial port, it would reduce the shipping time from Thailand to India to just one week, compared to three weeks from Malaysia. This project will make Thailand a central hub for maritime logistics in the region, connecting to India as a major market, Kobsak added.