Thailand plans regional alternative to Belt and Road
THAILAND plans to create a regional fund along with several of its neighbours in order to reduce reliance on Chinese investment in Southeast Asia. The Nikkei Asian Review reported earlier this month that Bangkok hopes to launch the fund “as soon as possible”, which would help fund infrastructure and development projects in Thailand, Cambodia, Laos, Burma (Myanmar) and Vietnam. Prime Minister Prayuth Chan-ocha is expected to propose the idea to leaders of these nations the 8th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit on June 16, a forum for cooperation on issues including trade, transport and investment. SEE ALSO: Vietnam protests over feared 99-year leases for China China has funded major infrastructure projects in Southeast Asia under the Belt and Road Initiative including the Sino-Thai railway for which construction began in December 2017. Beijing aims to establish a China-Indochina Peninsula Corridor which will run from southern China to Singapore. Thailand’s proposed...
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