Bright prospects for special economic zones

NONG KHAI, August 15 (TNA) - There are positive signs that the government-sponsored special economic zone (SEZ) development areas to be set up along Thailand’s borders with neighbouring countries would receive advantage in terms of trade and investment. Industry Minister Chakramon Phasukavanich on Friday inspected progress made of SEZ in Thailand’s province of Nong Khai bordering Laos and found that cross border trade in the province in 2014 totaled about 60 billion baht. Cross border trade in the province during the first seven months this year was quite sluggish due to the current economic slowdown, said Mr Chakramon, adding that he was optimistic that trade value at the border in the province would improve if goods transportation facility is developed. He said cross border trade in Nong Khai would increase to 100 billion baht yearly, excluding goods and services purchased by the Laotians which are valued almost the same at this amount. Verapong Chaiperm, governor of state-run Industrial Estate Authority of Thailand, said investment on logistics purposes at SEZ in Nong Khai in the next five years is estimated at 20 billion baht. The major factor which is expected to boost investment is both the Thai and Laotian governments want to jointly invest on a development of a rail system from southern China passing through Laos, Nong Khai and to Map Ta Phut industrial estate in the Thai eastern resort of Rayong. And from Rayong, a rail system could be constructed to Malaysia and Singapore, said Mr Verapong. The Industrial Estate Authority of Thailand has assigned Chulalongkorn University to accelerate on ways to develop three SEZs with one each in Mae Sot district of Tak province bordering Myanmar, Sa Kaeo's Aranyaprathet district bordering Cambodia and Songkhla's Sadao district bordering Malaysia, said Mr Verapong. Land prices at the SEZs would become clear in the next six months, he said, adding that a meeting would be held on September 10 to discuss on land rental fee under the supervision of the Treasury Department. (TNA)