EEC draws B48.3bn in new foreign investment

>>Thailand’s Eastern Economic Corridor (EEC) has brought in revenue worth 48.3 billion baht from Jan to Nov, making up to 43% of the money invested in the EEC project, according to the Department of Business Development, Ministry of Commerce.

Deputy government spokeswoman Tipanan Sirichana said yesterday that foreign direct investment (FDI) in the EEC area during January to November has reached 48.3 billion baht.

Data from the Department of Business Development shows there are 105 foreign investors in the EEC area or 20% of the total number of investors, she said.

Of all 105 investors, a group of 42 Japanese investors holds the highest FDI worth 24.5 billion baht. Another nine Chinese investors have spent 10.9 billion baht in the EEC area and the other nine Singaporean investors have spent 2.1 billion baht, added Ms Tipanan.

She said most investments went into major businesses such as an international logistic service, software development service, cargo management service and engineering and technology service.

More investors would enter the EEC this month, increasing FDI in Thailand, she said. Ms Tipanan said the National Economic and Social Development Council (NESDC) was stimulating FDI in the EEC area, especially in seven targeted industries.

“The EEC is an urgent projects that Prime Minister Prayut Chan-o-cha established for the younger generation to improve our country’s ability to compete in the global market,” said Ms Tipanan.

She added the EEC has also ushered in the development of transport infrastructure that connects Thailand to the region and improves locals’ quality life. The EEC project initially focuses on the three eastern provinces of Rayong, Chon Buri, and Chachoengsao.