Thailand plans multi-billion-dollar infrastructure investment to boost economy
Among Southeast Asian economies, Thailand's economic growth stood at 2.1% in 2022, halving from 2021…Among Southeast Asian economies, Thailand's economic growth stood at 2.1% in 2022, halving from 2021, making it the slowest-growing economy among ASEAN countries. That is why Thailand is to invest around US$15 billion in transport infrastructure, including upgrades to its key container port, Laem Chabang, in order to boost economic growth.
The Prime Minister's office said: "The Thai government is currently promoting several large-scale water transport projects, including an industrial port development project in the Eastern Economic Corridor (EEC) district."
It is hoped that building up Thailand's waterway transportation network will boost international trade with the export-oriented Southeast Asian country. Some US$3 billion will go towards upgrading Laem Chabang, to increase Thailand's export and import cargo transportation capacity. Besides Laem Chabang, the government plans to build and develop one automated container terminal along Bangkok port's West Quay in the future.