French firms eye big ticket investment in Thailand’s EEC

In a bid to fortify its economy, the Thai government is extending an invitation to French corporations to make significant investments in the Eastern Economic Corridor (EEC). Identified as an ideal zone for the development of a high-tech industrial park, the EEC comprises sections of Chachoengsao, Chon Buri, and Rayong.

The authorities have identified aviation alongside 11 other S-curve industries as prime investment opportunities within the economic corridor. Chula Sukmanop, the secretary-general of the EEC Office, revealed…

“EEC officials met executives from French companies and they are interested in investing in the corridor.”

Several corporations, particularly those engaged in the aerospace and defence industries, have signalled their intent to dive into these investment ventures.

These include renowned names such as Safran Group, Thales Group, Satys Aerospace, Volocopter, GIFAS, and VoltAero. Other significant meetings involved Total Energies, Dassault Systemes, Renault Group and Mouvement Des Entreprise De France, heralded as France’s largest employer federation.

As part of this new wave of investment, the Thai government is actively developing various infrastructural projects within the EEC area. These projects range from high-speed rail systems linking three major airports to the development of the U-Tapao Aviation City, alongside the third-phase expansion of deep-sea ports in both Rayong’s Map Ta Phut and Chon Buri’s Laem Chabang.

The EEC Office reports reveal France as Thailand’s ninth-largest trading partner, with French investments amounting to over several billion baht in the past years. From 2018 to 2022, the EEC region itself has benefitted from investments valued at 15.4 billion baht across medical, automotive and aerospace businesses.

In line with global campaigns for carbon neutrality, numerous French companies are planning to further invest in renewable energy and the bio-, circular and green (BCG) economic development sectors.

In an attempt to decrease carbon dioxide emissions, Thailand is urging manufacturers to adopt new technologies under the BCG banner that enhance product values while causing minimal environmental damage, reported Bangkok Post.