Airport's city seen as magnet for investment
Suvarnbhumi City is expected to be a magnet for foreign investment as it will have total control over its own administration, Saroch Kuthamath, director-general of the Local Administration Department, said yesterday.
The airport city would have a better administrative structure than Bangkok or Pattaya, Saroch told the seminar "Golden Land: Suvarnbhumi City". The city's board of 30 directors, chaired by the prime minister, would wield total administrative power, he said. At the initial stage, Saroch said, the government would focus on flexibility and would have the power to give investors licences. "It's expected to attract light industries that need speed of transportation," he said. In addition, the city's administrative board would determine any privileges for investors, in accordance with the Board of Investment, and could collect any taxes in its own territory, including licensing concessions for operating infrastructure.
Watcharapong Thongrung The Nation
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