Prime Minister announces initiatives to attract foreign investment in EEC

Prime Minister Srettha Thavisin unveiled a strategic plan during a mobile meeting aboard special train No 995 aimed at intensifying efforts to allure foreign investment into the Eastern Economic Corridor (EEC). Departing from Bangkok Station in Hua Lumphong and heading to Laem Chabang Station in Chon Buri’s Sri Racha district, the prime minister took the opportunity to assess and survey segments of the EEC.

The pivotal focus of the discussion was the urgency to address infrastructure development within the EEC to alleviate transportation congestion, a critical factor for potential investors eyeing the region, the Thai prime minister emphasised.

“We have to meticulously analyse any potential obstacles that foreign investors might encounter when considering investments in the EEC. Simultaneously, we aim to bolster these projects to act as catalysts for economic growth.”

During this meeting, the 61 year old Thai PM proposed the establishment of a specialised sub-committee designed to streamline the projects and address hurdles that might deter foreign investments, particularly bureaucratic complexities, reported Bangkok Post.

The proposition also includes enhancing incentives, such as tax waiver measures, to make the EEC more appealing to foreign investors.

“Through the enhancement of the area’s infrastructure, we aim to showcase to investors that the EEC is a region ripe with opportunities.”

Following the visit to Laem Chabang train station, PM Srettha undertook visits to key locations, including the Laem Chabang Seaport in Chon Buri’s Sri Racha district and the Nong Phlalai Reservoir in Rayong’s Pluak Daeng district.

During the inspection at the seaport, the prime minister was briefed on its operational status. According to government spokesperson Chai Wacharonke, Laem Chabang Port has facilitated a total of 11,700 cargo ship journeys this year, transporting a substantial 94.1 million metric tonnes of goods, or 8.67 million Twenty-Foot Equivalent Units (TEU).

The port is currently in its third phase of expansion and is expected to escalate its capacity to manage up to 18 billion TEU upon its completion in 2029.

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