EEC investment on track with plans for new industrial park
Officials overseeing the Eastern Economic Corridor (EEC), Thailand’s advanced development zone, said last week that investments are on track to reach $10 billion as the government unveiled plans to build another industrial estate in the Corridor.
Kanit Sangsubhan, Secretary-General of the EEC Office, said that actual investment from four key infrastructure projects would be $10 billion this year. The total value of the projects is over $20 billion. The Corridor is a new national nexus for transport and logistics to support the advanced industries locating there.
The EEC is a three-province area adjacent to Bangkok. The government’s goal is to transform it into a showcase for high-tech development, green industries and smart cities. It has already become a preferred location for domestic and foreign investors.
Meanwhile, the Industrial Estate Authority of Thailand (IEAT) said that it planed to build a new industrial estate in Chachoengsao, one of three provinces in the EEC. The new estate would be up and running within two years and would lift the economy after the pandemic begins to recede.
The new Apex Industrial Estate would host a variety of industries including metal, machinery, logistics equipment, electronics, home appliances, agriculture products and high-tech products.
“The government expects Apex Industrial Park to generate around $2 billion in investments and economic value, and create 16,000 jobs,” said Veeris Ammarapala, Governor of IEAT.
Kanit of the EEC said that his office was proposing the introduction of additional investment promotion zones to help boost investment.
Photo courtesy of: https://www.eeco.or.th/en/the-prime-gateway-to-asia