Thailand’s Prime Minister Prayut Chan-o-cha on June 19 presided over a contract signing between the Eastern Economic Corridor (EEC) and BBS Joint Venture to develop U-Tapao International Airport and the Eastern Airport City Project.
Thailand's U-Tapao International Airpor. (Photo: Bangkok Post)
Hanoi (VNA) – Thailand’s Prime Minister PrayutChan-o-cha on June 19 presided over a contract signing between the EasternEconomic Corridor (EEC) and BBS Joint Venture to develop U-Tapao InternationalAirport and the Eastern Airport City Project.
Prayut said the 290-billion-baht (over 9 billion USD) project is among Thailand’smajor infrastructure development projects aiming to boost socio-economic growthin the country’s eastern region.
This project will upgrade the country to be the regionalaviation hub, he said.
EEC Office secretary-general Kanit Sangsubhan said thisproject would generate 305.55 billion baht for the government, another 62billion baht in tax and create 15,600 jobs a year in the first five years.
All assets would revert to the state after the expiration ofthe 50-year contract, he added.
The U-Tapao International Airport City Project & EasternAirport City Project also incorporates a high-speed train route linking thethree major airports – Don Mueang, Suvarnabhumi and U-Tapao.
The BBS consortium comprises Sino-Thai Engineering andConstruction, Bangkok Airways and BTS Group Holdings./.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.