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Investors shun Thai government plan for development zones in north-eastern provinces

13 Sept 09:55 Key points summarised by AI

The Thai government's seven-year plan to establish economic development zones in its north-eastern provinces has failed to attract any investors, even after substantial reductions in land rental fees.
A primary reason for the lack of investor interest in Thailand's proposed zones is the absence of essential infrastructure, such as running water, electricity, and road access, coupled with remote locations.
In contrast, the Lao PDR, particularly Vientiane, is experiencing a significant boom in Chinese-funded real estate and logistics projects, bolstered by the operational China-Lao PDR high-speed train.
Laos successfully attracts international investors through incentives like long-term land leases (up to 99 years) and tax-free zones for light industries, exemplified by the US$500 million Vientiane Logistics Park project.

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.