Thailand approves Eastern Economic Corridor development plan

Thailand’s Eastern Economic Corridor (EEC) Policy Committee on November 24 approved the EEC development plan for the 2023-2027 period to attract on average of 100 billion THB (2.8 billion USD) yearly.

An overview of the EEC

The committee also approved a scheme to offer 10-year visas for investors in targeted businesses in its industrial eastern region to attract foreign investment. The scheme is expected to start next year.

According to Thai Deputy Prime Minister and Minister of Finance Phumtham Wechayachai, the plan points out five development strategies for promoting investment in target industries and services in the future, improving the efficiency of the infrastructure and public utility systems, increasing the workforce’s capacity to adapt to technological changes and innovations, developing modern, livable and career-friendly cities, and connecting the benefits derived from investment with the sustainable development of the community.

The EEC, which covers three provinces east of the capital Bangkok, is a centerpiece of government efforts to boost growth and encourage investment, particularly in high-tech industries./.

VNA