As new investment comes in, Thailand’s Eastern Economic Corridor shows flickers of life

OFFICIALS at Thailand’s much vaunted Eastern Economic Corridor (EEC) - located about 3 hours away from the capital Bangkok - remain hopeful that the massive project can bring in 2.2 trillion baht (S$88.5 billion) in investments over the next 5 years.

The EEC covers 3 eastern provinces in the country off the coast of the Gulf of Thailand - Chonburi, Rayong and Chachoengsao - and spans more than 13,000 sq km. The developments there are meant to be in line with Thailand’s adoption of the Bio-Circular-Green (BCG) economic model that was introduced last year as part of a big push to transform the economy into one that’s value-based and innovation-driven.

The EEC’s development plan focuses on different S-curve industries such as artificial intelligence and aerospace, and has already attracted foreign investment from countries including Singapore and China. Kanit Sangsubhan, secretary-general of the EEC Office, said his office is sticking by its investment target of 2.2 trillion baht in investments to the EEC over the next 5 years.