Bangkok: The Land Bridge project has sparked significant concerns among various stakeholders who fear it may echo issues seen in Thailand's Eastern Economic Corridor (EEC). Veerayuth Kanchuchat, a party-list MP and deputy leader of the People's Party, warned that the project is risky and potentially unprofitable. He emphasized the need for caution in revealing strategic intentions to global powers.
According to Thai News Agency, the Land Bridge project, which falls under the Southern Economic Corridor Act (SEC), is under scrutiny for its potential to bypass existing laws, resembling challenges faced during the EEC project. The financial viability of the Land Bridge is particularly troubling, with reports indicating a financial return of only 4% and a negative net present value of 40 billion baht. Concerns are mounting over Thailand's strategic positioning and the risk of compromising energy and future security by leaning towards a single superpower.
Ms. Pakamon Nunanan, also a party-list MP from the People's Party, criticized the government for what she sees as misleading tactics. She highlighted that while development is not opposed, there is a pressing need to look beyond the superficial benefits of the land bridge. The potential establishment of industrial estates under the SEC Act raises questions about who truly benefits from such development. She also noted the swift acquisition of land in recent months, underscoring the need for transparency and genuine community engagement.
Former Thai Ambassador to the United States, Mr. Pisan Manawapat, added a geopolitical perspective, stressing that the project's success hinges on its ability to enhance Thailand's bargaining power with superpowers. He emphasized the importance of using Thailand's strategic location as leverage in foreign negotiations, advocating for a project that strengthens rather than diminishes the nation's global standing. Mr. Pisan urged for a careful assessment of whether the Land Bridge will enhance Thailand's attractiveness for international technology investment and bolster its geopolitical independence.
Overall, the Land Bridge project presents a critical opportunity for Thailand to redefine its strategic and economic trajectory. Stakeholders are urging for a thorough evaluation of its potential impacts, ensuring that the nation's assets are utilized to foster growth and resilience in an increasingly complex global landscape.