According to Sultan Ahmed Bin Sulayem, chairman of Dubai World, the company is eager in investing in Thailand property sector due to its enormous increase potential. ''In Thailand we have a well diversified portfolio and are already in the process of identifying a few other projects in logistics, real estate, free port facilities and a few other areas where Thailand continues to have a strength,'' he said at a conference organized yesterday by the Thaicom Foundation.
''We are still exploring more opportunities in this country and will in the future announce when they are more concrete.''Dubai World, which has a presence in various sectors, has investments in Thai port facilities, Bumrungrad Hospital and listed and non-listed real estate companies.
Mr Sulayem said Dubai World was very interested in helping build a landbridge linking the Andaman Sea and the Gulf of Thailand in the southern provinces.A landbridge would create jobs for the troubled South, increase stability and solidify Thailand's position as a hub connecting East and West, he said.
''Today, about 90% of the products that are being consumed are made in China, South Korea, or Japan. If we have a network that can speed up the process of shipment it would be of great benefit to Thailand,'' he said.
The landbridge concept would connect the coasts by rail to allow goods to be shipped from one port to the other. The project has been debated for decades in Thailand. It proposes creating a shortcut for shipping goods from South Asia, Europe and the Middle East to East Asia by avoiding the lengthy transit around the Malay peninsula through the Straits of Malacca.
Mr Sulayem said Dubai World, as one of the world's largest port operators, believed the project was feasible.''We believe that it will be a successful project and we can claim that we are a logistics expert,'' he said.His comments came after Thai cabinet ministers on Tuesday endorsed a proposal to conduct a joint feasibility study with Dubai World to develop a logistics network in southern Thailand.
Transport Minister Santi Prompat said yesterday that Dubai World would offer a grant of 200 million to 300 million baht to finance a study on developing two new ports on the Andaman seacoast and the Gulf of Thailand.Dubai World is also interested in investing in Thai property, including the 200-billion-baht Makkasan Complex proposed for Bangkok.
Mr Santi, who signed an agreement with Dubai World yesterday, said other investments could be made in logistics projects near Bangkok Port and Suvarnabhumi Airport.Dubai World is an entity of the UAE government set up to invest in a variety of businesses, including in the transport, property development, industrial estate, finance, hotel and trade sectors.
