“Thailand’s upcoming Eastern Economic Corridor (EEC) is being positioned as a gateway to the Asian market which accounts for one-third of the world economy. The 13,000-sq. km EEC will be the future economic and logistics hub of Asia. The project is being developed as part of the ambitious Thailand 4.0 initiative.
“I invite Indian businesses to explore commercial opportunities in agriculture, automobiles, electronics, medical devices and other manufacturing and services industries in this corridor. Thailand’s Board of Investment is keen to promote not only Indian investment in Thailand but also the entry of Thai companies in India,” said Ms Bussarakum Sriratana, Executive Director – International Affairs Bureau, Board of Investment, Thailand.
She was speaking at a round-table discussion on ‘Thailand 4.0 and Business Opportunities for Indian Partners’. The event was jointly organised by MVIRDC World Trade Centre Mumbai and All India Association of Industries (AIAI).
Highlighting the Thailand 4.0 initiative, Ms Sriratana said, “Thailand seeks the partnership of India, especially the business community of Maharashtra, to transform its country into an innovative society under its ambitious Thailand 4.0 initiative. EEC will be the Metropolis of Future with world class economic zone. Over the next five years, this corridor will attract
$ 43 billion worth public and private investment in various sectors, including upgradation of three international airports and three deep sea ports.”
The EEC encompasses the three eastern provinces of Chachoengsao, Chonburi and Rayong, with Wangchan Valley in the Rayong province acting as the centre of the Eastern Economic Corridor of Innovation (EECi).
Earlier, in his remarks, Mr Ekapol Poolpipat, Consul General – Royal Thai Consulate General, Mumbai, said, “In the next few years, EEC will be transformed into a full-fledged integrated logistics and transport hub with huge potential for investment in petrochemicals, automotive, aviation, advanced manufacturing, biotechnology, agro processing, electronics, robotics and advanced manufacturing.”
Mr Nanthapol Sudbanthad, Director – Thailand Board of Investment, Mumbai, highlighted some of the incentives offered for investors in the EEC region. These include exemption from corporate tax in the initial years of the project, duty-free import of machineries, low personal income tax, facilitation of work permits, and one-stop service for investors.
Ms Kittiya Bantadchan, Vice-President, Commercial Team – Eastern Economic Corridor Innovation, PTT Public Co. Ltd, remarked, “EECi is an innovation zone which will promote high-tech industries supported by world class facilities for science and technology, research and development. The six target industries promoted in this zone are modern agriculture and biotechnology, bio-fuel and bio-chemicals, high-performance battery and modern transport, automation, robotics, intelligent electronics, aviation and space, medical devices.”
