Thailand aims to use Hong Kong’s status as a global financial centre to raise funds for a new smart city in its flagship economic development zone, according to the head of the megaproject’s public agency.
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Chula Sukmanop, secretary general of the Eastern Economic Corridor Office, also dismissed accusations that Beijing’s Belt and Road Initiative was a debt trap, highlighting benefits such as the thousands of jobs it had created for Thai people in the electric vehicle (EV) sector.
The Eastern Economic Corridor is a key initiative of Thailand 4.0, a blueprint which aims to elevate the Southeast Asian nation from middle-income status by developing innovative and advanced industries.
Launched in 2017, the corridor spans three eastern provinces – Rayong, Chonburi and Chachoengsao. Its key projects include the 24 sq km smart city designed to become one of Asia’s leading business-friendly urban hubs.
Speaking to the Post at the 10th Belt and Road Summit on Wednesday, Chula said that although the smart city remained in the “conceptual” stage, he hoped to leverage Hong Kong’s position as an international financial hub to secure funding for the project.
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“This is the main thing we are interested in, because [Hong Kong] can raise funds from anywhere,” he said.