Government increasing its investment in hi-tech corridor
With global business sentiment rising, Thailand’s government announced it would increase its investment in the Eastern Economic Corridor (EEC), the Kingdom’s advanced industry showcase zone.
The government said it would raise its investment by more than $55 billion. Most of the funds would be allocated for infrastructure and next-generation industry projects.
The EEC is a three-province area just east of the capital, Bangkok. The area was the heart of the first phase of Thailand’s industrial development. The government is now rebuilding it as the hub of higher-tech, innovation-driven and green industries it believes will drive the Kingdom to a higher level of development and competitiveness.
Local and foreign investment in the EEC has been healthy even through the advent of the Covid-19 pandemic. This is due to the efficiency of the government in containing the effect and the progress on global vaccines that have maintained investment.
“We see positive sentiment in the global economy as the world expects a vaccine,” said Kanit Sangsubhan, Secretary-General of the EEC Office of Thailand.
The EEC has been a priority focus of the government’s massive infrastructure building and upgrading efforts. Kanit said that aside from infrastructure and industry support, some of the new investment would finance a range of development projects, including modern agriculture, the public health system during the pandemic and educational development.
Improved public health and education are essential to the EEC because it also is intended as a showcase for smart cities, green living and a better quality of life in the Kingdom.