The Board of Investment (BOI) Thailand approval of investment incentive scheme is a good news for the infrastructure industry. More particularly it is for U-Tapao Airport’s Passenger Terminal 3 and Digital Park Thailand (EECd) development projects. The Thai Board of Investment offers the scheme in order to attract more investors for participation in biddings while increasing investors’ confidence and success opportunity.
After completion, these two projects can to play a major role in taking the Eastern Economic Corridor forward as a regional business hub.
U-Tapao Airport’s Terminal 3 Development Project
This is a part of the Aerotropolis development project, under the private-public partnership format. Furthermore, this will include construction of a 7.1 billion USD (233-billion-baht) Passenger Terminal 3. It will be in a motif to increase the airport passenger’s handling capacity, straight from 5 million to 22 million passengers by 2033. Additionally, it will increase flight handling capacity from 25,000 units each year to 120,000 aircraft by 2033. After completion, this project will cover additional passenger terminals, logistics village and cargo, MRO zone, commercial gateway, cargo zone, and the aviation training center.
Alongside the Aerotropolis, the government is working on various other infrastructural developments. Additionally, BOI Thailand aims to develop seamless rail, road, sea, and air transportation network. This type of development involves the construction of 6.8 billion USD high-speed train connecting the three airports, namely U-Tapao, Don Mueang Airport, and Suvarnabhumi airport.
The Public-Private Participation Projects
- U-Tapao Airport,
- High-speed Train,
- Laem Chabang Port,
- Map Ta Phut Industrial Port, and,
- MRO Center,
Public-Private-Participation fast-track program helps in shortening the bidding process from forty months to eight-ten months.
Similarly, for the bidding winner, the BOI Thailand will grant import exemption duty on machinery. Alongside, it also grants CIT exemption for 8 years. Also, projects that aim at developing human resources will enjoy a four-year tax holiday.
The EECd is particularly designed to become the hub for digital industry. Additionally, investments that further promote commercialized digital innovations will drive Thailand 4.0 transformation. It will have an important role to play in making Thailand the trade and investment hub for the province’s digital business. The targeted activities for this are software development, Digital Park, cloud service, data center, R&D, and innovation incubation center.
Additional, the park will have a comprehensive digital infrastructure, which includes high-speed optic fiber network, and innovation infrastructure, like a living lab.
