#204. Berita Filem : L.A.-based firm to build movie town in Thailand aiming to be Asia's movie industry hub

BANGKOK, March 4 (Xinhua) -- CKA Chiang Mai Company Limited has planned to invest 8.0 billion baht (220 million U.S. dollars) to build a movie town in Chiang Mai, aiming to be a hub of the movie industry in Asia.
The company, which is located in Thailand's northern province of Chiang Mai, is a subsidiary of the Los Angles-based entertainment firm Creative Kingdom Inc.

CKA Chiang Mai Company has believed that "Chiangmaiwood" would be able to surpass Hong Kong as the Asian hub of the movie industry, the website by Bangkok Post reported on Wednesday.It is projected that it would take seven years to complete the movie town's construction on a 12-acre site in San Kamphaeng district.

By 2014 six studios of varying sizes would be available for different scales of movie productions, the Bangkok Post's website quoted Eduardo Robles, CEO of the company as saying.And, in 2015, it is expected the company's production facilities would be able to attract about 35 productions worldwide.

The project would officially be announced on June 19 this year, while movie producers and directors across the globe would be invited to see the business potential.Chiang Mai has been chosen since it is offering a good location and traffic, amid skillful human resources in the field. Moreover, the city is a geographical center for services in the Mekong region.

Most importantly, production costs are about 20 percent lower than those in rival locations, while the company has also received tax incentives from Thailand's Board of Investment.However, Robles has declined to reveal a source of funds for the project, saying the company is talking with several foreign investors abroad.