NLA passes legislation to develop Eastern Economic Corridor

By The Nation

 

 

The National Legislative Assembly (NLA) yesterday approved the bill on development of the Eastern Economic Corridor (EEC), which is expected to attract a new generation of foreign investors.

 

The EEC development will cover Chon Buri, Rayong and Chachoengsao provinces.

 

The NLA yesterday spent eight hours debating the bill and passed the third reading with 170 votes for and 10 abstentions.

 

In its first year, the EEC programme is expected to draw foreign direct investment amounting to Bt300 billion, with the sector targets being new high-growth industries such as next-generation automobiles, smart electronics, medical and wellness tourism, robotics, aviation and logistics.

 

The three eastern provinces will also be closely linked with Bangkok via new infrastructure schemes such as high-speed trains between Suvarnabhumi, Don Mueang and U-Tapao airports.

 

The legislation will empower the government to grant tax and other privileges to foreign investors on land ownership and on bringing in foreign talent as well as their dependents, among other measures.

 

Dr Kanit Saengsuphun, secretary-general of the EEC Office, said the massive development programme is crucial in terms of upgrading the country’s international competitiveness.

 

The EEC legislation will also serve as a new industrial/service and urban development blueprint for other parts of the country.

 

Due to disruptive technologies and other global factors, Thailand will lose its competitiveness as a regional hub for manufacturing and other industries unless the country undergoes a major transformation via the EEC development programme, said Kanit.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30338362

 

-- © Copyright The Nation 2018-02-09

Too late others have done it years ago, investment here, stop pulling my >isser

4 minutes ago, webfact said:

".....sector targets being new high-growth industries such as next-generation automobiles, smart electronics, medical and wellness tourism, robotics, aviation and logistics".

Just a minor matter but where might all the highly educated and skilled Thai people be coming from to run and work all these 300 billion baht worth of hi-tech foreign investment businesses. Most Thai university certificates aren't worth the paper they are written on quite apart from the fact the whole Thai education system is in a state of torpor.

It is looking like all these foreign investors in the Eastern Economic Corridor certificates will have to have BYO management, senior staff and employees and then go through the formidable processes of arranging foreign worker registration and work permits and proving they are not taking jobs away from Thai people.

On the positive side there should be plenty of job opportunities for Thai tea ladies to run the canteens.

The photo must have caught the NLA at a busy time !!

Do I remember dear old Greneral Prem starting this some 30 years ago. 

8 hours ago, webfact said:

The National Legislative Assembly (NLA) yesterday approved the bill on development of the Eastern Economic Corridor

Although Prayut's Smart City concept for Chon Buri, Rayong and Chachoengsao provinces to support the EEC Corridor apparently conflicted with existing city planners' concepts for the provinces, Prayut's plans took priority. He didn't even bother to invoke Article 44 and obviously the NLA was indifferent to the interests of the provincial authorities and residents.

But Prayut has billions of baht already invested by foreign investors (mostly Japanese I believe) last year and more to come this year. So I suspect any delays in the EEC development (ie., collaboration with the city planners) that Prayut seems to have indicated ready to begin this year might affect confidence of those foreign investors.

9 hours ago, Cadbury said:

Just a minor matter but where might all the highly educated and skilled Thai people be coming from to run and work all these 300 billion baht worth of hi-tech foreign investment businesses. Most Thai university certificates aren't worth the paper they are written on quite apart from the fact the whole Thai education system is in a state of torpor.

It is looking like all these foreign investors in the Eastern Economic Corridor certificates will have to have BYO management, senior staff and employees and then go through the formidable processes of arranging foreign worker registration and work permits and proving they are not taking jobs away from Thai people.

On the positive side there should be plenty of job opportunities for Thai tea ladies to run the canteens.

There are many excellent Thai engineers. The average expat farang English teacher is unlikely to meet any though. 

Edited February 9, 20188 yr by tryasimight