Since 2014, Thailand has proceeded with an 8-year plan to develop the country’s Transportation Infrastructure by integrating all platforms – rail, air, road, and water. This will ultimately turn the country into a logistics hub within the Asean Economic Community (AEC). The plan is to initially focus on the country’s internal rail infrastructure where it plans to develop 10 rail routes within Bangkok and the Metropolitan area within 2019, and the value of such projects is valued at 700 Billion THB.

The intention is to add support and provide more options for commuters to travel back and forth between the central business district and the neighbouring suburbs. This will eventually help reduce traffic congestion within the city and provide more opportunities for investment and expansion on the outskirts.

The second phase of the infrastructure transportation development plan is to focus on expanding the country’s wider transportation system and link Thailand with neighboring AEC countries by rail utilizing a double-track system. Investment in such projects has already commenced with a 2021 target completion date.

While such infrastructure development program presents many opportunities for Thailand’s development on the long run, the challenges for such implementation can and should not be ignored. Many of the projects included in this program will not include clear and concise requirements and with a lack of adequate costing and planning, many international or local investors rush to grab such investment opportunities while ignoring all potential risks involved. Potential investors should carefully engage their skilled program managers, project managers, engineers, and other resources to carefully review Terms of Reference (TORs) and document any unknown requirements, risks, questions, gaps, and present such information to Project Sponsors. Project managers should also conduct Quantitative Risk Analysis on the costs and schedules involved in such projects. This helps better explain the Net Present Value for such investments to Project Sponsors and Project Owners while taking into consideration high-priority risks identified.

By engaging an adequate Project Management Consultancy (PMC), Project Sponsors receive a better picture of the projects they intend to bid on and should help ensure adequate returns on their investments.