Illustrative image (Source: thestar.com.my) The master plan has been approved by a panel chairedby Prime Minister Prayuth Chan-Ocha and the capital will be disbursed in thenext 10 years, local authorities said.
The city will be built in Huai Yai district ofChonburi province, some 160 kilometers southeast of Bangkok, covering 2,340hectares, according to Kanit Sangsubhan, Secretary-General of the EasternEconomic Corridor.
The project will comprise five business centres forcompanies to rent as commercial areas. These will include a hub to houseregional headquarters of firms, a financial centre, and areas for precisionmedicine, international research and development, and future industries such asclean energy and 5G technology.
The residential quarter of the new city will bedesigned to accommodate 350,000 people by 2032, and generate 200,000 directjobs, Kanit said. Residents will be mostly those employed in the industrialarea, which is set to draw investments of about 2.2 trillion THB over the nextfive years.
The new city with its business centres can add anestimated 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 fivefoldjump, the government said in a statement./.
VNA
