China-Laos high-speed rail to transform northeast Thailand
Krungthai COMPASS Research Centre unveiled a groundbreaking vision, identifying the China-Laos high-speed railway as the cornerstone for transforming the northeast of Thailand into an economic juggernaut within the Greater Mekong Subregion.
The centre disclosed that the China-Laos high-speed railway, now operational for both passenger and freight services along the Kunming-Vientiane route, will directly turbocharge trade and investment in Thailand’s northeastern region, seamlessly linked to this rail network. The government is primed to fuel the regional economy, committing an expected investment of around 760 billion baht over the forthcoming five years.
Of this colossal sum, a staggering 640 billion baht is slated for government investment in major infrastructure undertakings, spanning high-speed rail, dual-track railways, airports, tourism promotion, border trade, smart cities, industrial estates, and special economic zones. Meanwhile, the private sector is poised to inject an additional 120 billion baht into the mix.
Krungthai COMPASS Research Center’s meticulous studies and assessments pinpoint six provinces in the Northeast: Udon Thani, Mukdahan, Khon Kaen, Nong Khai, Nakhon Phanom, and Bueng Kan as epicentres of burgeoning growth arising from these investments, reported Pattaya Mail.
Key business opportunities in construction, logistics, auto dealerships, oil and gas, and healthcare sectors are primed to spearhead infrastructure, tourism, and investment developments in the near future, according to the Centre’s insights.
Businesses are urged to gear up their services and personnel, ensuring readiness in environmental facets such as mitigating air pollution and embracing green logistics practices. Moreover, the government faces mounting pressure to expedite the northeast’s transport network development, seamlessly integrating it with the China-Laos high-speed rail and propelling investments in the Northeastern Economic Corridor.
In related news, the State Railway of Thailand (SRT) is advancing with plans to construct three double-track railroad routes that will span a total of 634 kilometres. The project, which will require a combined investment of 113.14 billion baht, has been approved by the SRT board and is due to be submitted to the Transport Ministry later this month.
