Illustrative image (Source: thestar.com.my) The master plan has been approved by a panel chaired by Prime Minister Prayuth Chan-Ocha and the capital will be disbursed in the next 10 years, local authorities said.
The city will be built in Huai Yai district of Chonburi province, some 160 kilometers southeast of Bangkok, covering 2,340 hectares, according to Kanit Sangsubhan, Secretary-General of the Eastern Economic Corridor.
The project will comprise five business centres for companies to rent as commercial areas. These will include a hub to house regional headquarters of firms, a financial centre, and areas for precision medicine, international research and development, and future industries such as clean energy and 5G technology.
The residential quarter of the new city will be designed to accommodate 350,000 people by 2032, and generate 200,000 direct jobs, Kanit said. Residents will be mostly those employed in the industrial area, which is set to draw investments of about 2.2 trillion THB over the next five years.
The new city with its business centres can add an estimated 2 trillion THB to Thailand’s gross domestic product within 10 years, and the value of assets after a 50-year concession period will see a fivefold jump, the government said in a statement./.
VNA
