On January 14, 2019, Mr. Uttama Savanayana, Minister of Industry, revealed that Alibaba Group is preparing to announce a joint investment plan with WHA Corporation in the E-Commerce Park project located in Chachoengsao province, which is part of the Eastern Economic Corridor (EEC). The final investment details are currently under consideration, and an official announcement will be made soon. This investment is part of the government's policy to support Thai small and medium-sized enterprises (SMEs) in accessing e-commerce services to expand their trading opportunities.

 

“The E-Commerce Park project has an agreement with the Thai government to develop Thai entrepreneurs, especially new businesses or startups, in online marketing. It will also help elevate agricultural product prices to enter the global market more effectively. Alibaba will provide special training programs for interested Thai entrepreneurs, as well as support for research and development,” said Mr. Uttama.

 

With the advancement of e-commerce technology, online trading is expanding and starting to impact certain businesses, such as logistics. Thai entrepreneurs will need to adapt, especially with the anticipated arrival of 5G technology in the near future, which raises concerns for the Thai industrial sector. The development of robotics will accelerate, necessitating that the manufacturing sector in Thailand adapt quickly.

 

Regarding the progress of the Eastern Fruit Corridor (EFC) project, aimed at creating a central marketplace for fruit trading in the EEC, it will be located at the Smart Park Industrial Estate in Rayong province. Previously, a study was commissioned to assess the marketing model, and it has been concluded that there is potential for developing key fruits, such as durian, if a cold storage system is implemented to maintain quality for export. Discussions will be held with interested investors, including PTT Public Company Limited, Krung Thai Bank, SCG Group, and foreign investors from countries like Japan.

 

However, Mr. Pasu Loharjun, Permanent Secretary of the Ministry of Industry, has been assigned to discuss with all relevant parties to finalize details by February, particularly regarding investment amounts and joint investment proportions. Initially, the Thai Chamber of Commerce has proposed a public-private partnership (PPP) model, and if everything proceeds as planned, investments are expected to materialize in the last quarter of this year.

 

“Krung Thai Bank is interested in co-investing, but details still need to be reviewed. The PPP model is proposed by the private sector for greater management flexibility. I have also asked PTT to look into the technical aspects related to the cooling system, which must involve natural gas pipeline systems, and whether it should utilize cooling from liquefied natural gas (LNG) to ensure sustainability,” Mr. Uttama stated.

 

Additionally, discussions with the Russian Minister of Industry and Trade recently indicated that Russian investors are interested in investing in the aviation and fuel industries.

 

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