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Thailand gears up to attract investment to U-Tapao airport

Thailand’s Board of Investment (BoI) has laid out a plan to attract aerospace investment to U-Tapao airport in 2019 as part of the Government’s Eastern Economic Corridor (EEC) development.
Thailand gears up to attract investment to U-Tapao airport ảnh 1Thailand’s Board of Investment (BoI) has laid out a plan to attract aerospace investment to U-Tapao airport in 2019 as part of the Government’s Eastern Economic Corridor (EEC) development (Illustrative image: www.bangkokpost.com)
Bangkok (VNA) – Thailand’s Board ofInvestment (BoI) has laid out a plan to attract aerospace investment to U-Tapaoairport in 2019 as part of the Government’s Eastern Economic Corridor (EEC)development. 

The first phase will develop 1,040ha for theairport and an aviation hub, which includes a new terminal to serve 15 millionpassengers in the next five years; a second runway; a business zone; amaintenance, repair, and overhaul (MRO) facility; and air cargo space.

The Royal Thai Airforce plans to announce thewinning bidder for the first phase in March, with the document submissiondeadline on February 28. 

The project’s construction is expected to becompleted by 2023, and operations are to begin by 2024. The Airforce also aimsto launch terms of reference for the MRO facility’s second phase at U-Tapaoairport in February.

The EEC Office is planning to develop the nextstep, an “aerotropolis” that stretches 30km from U-Tapao airport. Theaerotropolis is a planned location for companies related to aerospace, medical,fashion, and e-commerce industries. The BOI will organise roadshows to drawinvestment from Europe and the US to Thailand’s aerospace industry. 

In a related event, the BoI recently approvedincentive schemes under the seven-year strategic investment promotion plan(2015-21), which are expected to contribute 418 billion THB (13.1 billion USD) tothe country’s gross domestic product and also orientate the economic structuretowards science and technology. –VNA 
VNA
#Thailand’s Board of Investment #aerospace investment #U-Tapao airport #Thailand's Eastern Economic Corridor development #aerospace industry #vietnamplus #Vietnam News Agency Thailand
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