Discover how the Eastern Economic Corridor (EEC) in Thailand targets 100 billion baht in investments for 2025 to boost economic growth. Learn about the new one-stop service center and the privileges driving business investments in this special economic zone.
EEC Plans to Boost Thailand’s Economy with Significant Investment Inflows
EEC Aims for 100 Billion Baht in Investments
The Eastern Economic Corridor (EEC), a special economic zone encompassing Chachoengsao, Chon Buri, and Rayong provinces, has set a bold target of attracting at least 100 billion baht in investments for 2025. Chula Sukmanop, the Secretary-General of the EEC Office, outlined the ambitious goal, stating that the majority of the investments will come from businesses that have been granted privileges under the EEC scheme.
Privileges to Drive Business Investment
Chula emphasized that companies benefiting from privileges within the EEC are highly likely to make substantial investments. He added that the EEC will actively encourage these businesses to commit decisively and heavily to the region in exchange for greater benefits and privileges.
Targeted Investments to Propel Economic Growth
The expected influx of investments is poised to contribute significantly to the local economy and accelerate Thailand’s Gross Domestic Product (GDP) growth. “We are focused on realizing the goal of drawing in 100 billion baht before the end of the year,” Chula said, highlighting the importance of this financial boost.
Investments Expected in Tranches
Although the goal is set at 100 billion baht, Chula acknowledged that businesses may not make their investments all at once. Instead, investments are likely to be made in tranches over time. The EEC’s role is to facilitate and encourage real investment spending that meets or exceeds this target to help drive GDP growth.
Establishing a One-Stop Service Center for Investment Facilitation
In a bid to streamline the investment process, the EEC is also working on fulfilling legal requirements to establish a one-stop service center. This facility will assist customers participating in the EEC scheme by reducing inter-agency contacts needed for obtaining various permits.
Simplifying Investment Procedures
The one-stop service center is expected to cover a range of services, including investment applications, work permit applications, business registration, and transaction account openings. To make the center operational, 14 key EEC-related laws need to be amended, particularly those related to construction and factory opening permits.
Final Thoughts: EEC’s Role in Shaping Thailand’s Future Economy
The Eastern Economic Corridor’s investment target is a critical step in boosting Thailand’s economy and positioning the nation as a leader in regional economic growth. By simplifying the investment process and offering attractive privileges, the EEC is aiming to attract businesses that will play a pivotal role in the country’s long-term economic development.