EEC dubbed new driver of Thai economy

 

 

BANGKOK, 20th August 2018 (NNT) – The Eastern Economic Corridor (EEC) that straddles three eastern provinces of Thailand is emerging as the new driving engine of the Thai economy. 

Tasanee Kiatpatraporn, the Deputy Secretary-General of the Eastern Economic Corridor Office of Thailand, recently commented that the EEC project is an appropriate mechanism to connect Thailand to neighboring nations, targeting a broad revitalization of manufacturing activities within the 13,300-sq-km area, which embraces the provinces of Chonburi, Rayong and Chachoengsao. 

During the past two months, she said Thailand has held six overseas roadshows in Japan, China, England, France, South Korea, and Hong Kong to inform foreign investors of the successful initiative. All the roadshows were well-received, according to Tasanee. 

The EEC project is centered on 10 targeted industries: next-generation automotive and smart electronic manufacturing, high-income tourism, medical tourism, bio and agricultural technology, food innovation, automation and robotics, aerospace, bioenergy, biochemicals, digital technology, and advanced medical and health care activities. 

Tasanee anticipates that the three EEC provinces will grow at the rate of 5% a year, bringing in no less than 100 billion baht a year in tax collection and generating more than 450 billion baht a year for local residents.

 

-- nnt 2018-08-20

 

During the past two months, she said Thailand has held six overseas roadshows in Japan, China, England, France, South Korea, and Hong Kong to inform foreign investors of the successful initiative. 

 

5 actually, Hong Kong is China.

10 minutes ago, webfact said:

EEC dubbed new driver of Thai economy

Or a real estate disaster. 

13 minutes ago, webfact said:

EEC dubbed new driver of Thai economy

………..I hope EEC is a better driver than the average Thai!

1 hour ago, webfact said:

EEC dubbed new driver of Thai economy

Out with 'hub', in with 'driver'. This week's buzzword.

 

Just hope the EEC have a driving licence to chauffeur the economy in the right direction - being careful of the traffic lights and speed of course. If it happens to start going downhill for some reason, I thing most people will realise the outcome in advance.

 

26 minutes ago, bluesofa said:

Out with 'hub', in with 'driver'. This week's buzzword.

 

Just hope the EEC have a driving licence to chauffeur the economy in the right direction - being careful of the traffic lights and speed of course. If it happens to start going downhill for some reason, I thing most people will realise the outcome in advance.

 

You mean like "brakes fail on downhill run, driver runs away"

19 minutes ago, Oziex1 said:

You mean like "brakes fail on downhill run, driver runs away"

You have excellent fortune telling skills.

 

Lots of employees in the supplied photograph.

2 hours ago, webfact said:

EEC dubbed new driver of Thai economy

This Eastern Economic Corridor is one big dream. After consulting with Alice and the White Rabbit a new dream called the Southern Economic Corridor has now arisen. These dreams are no different to any other dreams like HS trains and a corruption free Thailand.

There will be no EEC or SEC unless foreign investors put up the money and provide a skilled work force to carry them through. Thailand certainly hasn't got the wherewithal to go it alone.

I can't imagine a country run by a military junta is the most appealing place for foreign companies to invest their money. Having Article 44 hanging over their heads like the Sword of Damoclese wouldn't be much incentive.

There are currently dozens and dozens of countries with their own EECs (under different names) who are all trying to get the exact same high-tech  industrys to move there....And many of them are a lot more stable and civilized than the rules change depending on which way the wind is blowing Thailand...

I am sorry Thailand but you are way way way behind many other countries....

6 minutes ago, fforest1 said:

There are currently dozens and dozens of countries with their own EECs (under different names) who are all trying to get the exact same high-tech  industrys to move there....And many of them are a lot more stable and civilized than the rules change depending on which way the wind is blowing Thailand...

I am sorry Thailand but you are way way way behind many other countries....

Vietnam is already way out in front of Thailand in developing their own fourth industrial revolution (4.0) Thailand will end up being the poor relation.

Anyway the PM is too busy electioneering for the Junta Party to be worried about anything else.

https://vietnamnews.vn/economy/462719/legal-corridor-needed-for-digital-industry.html#Jls2rPL2xCTTQRR5.97

 

3 hours ago, webfact said:

next-generation automotive and smart electronic manufacturing, high-income tourism, medical tourism, bio and agricultural technology, food innovation, automation and robotics, aerospace, bioenergy, biochemicals, digital technology, and advanced medical and health care activities. 

Dream on .. 

3 hours ago, webfact said:

next-generation automotive

Next generation .! They gotta lot of ground to make up when this is the top of the range light truck made here .. an' it don't even come with a cab ..

3 hours ago, ratcatcher said:

During the past two months, she said Thailand has held six overseas roadshows in Japan, China, England, France, South Korea, and Hong Kong to inform foreign investors of the successful initiative. 

 

5 actually, Hong Kong is China.

Hong Kong is still technically 'overseas' from both Thailand and Mainland China.  A very small bit of sea, but it's still overseas. 

1 hour ago, Cadbury said:

Vietnam is already way out in front of Thailand in developing their own fourth industrial revolution (4.0) Thailand will end up being the poor relation.

Anyway the PM is too busy electioneering for the Junta Party to be worried about anything else.

https://vietnamnews.vn/economy/462719/legal-corridor-needed-for-digital-industry.html#Jls2rPL2xCTTQRR5.97

 

Right now, Vietnam is still more corrupt than Thailand. But they seem to be making legitimate strides to improve. Vietnam will be the eventual economic engine of SE Asia. It might have been another Singapore or South Korea but for the war.

4 hours ago, webfact said:

EEC dubbed new driver of Thai economy

Meanwhile the Prayut government recently announced that it is revamping its special economic zone strategy and pushing for links with those in neighboring countries, hoping to improve access within the region and secure tariff-free entrance for its goods into the European Union.  

• The planned SEZs were also not competitive compared with similar facilities in neighboring Greater Mekong countries. Goods from developing countries such as Myanmar, Cambodia, Laos and Vietnam can be moved into the European Union tax-free.
• Thailand, being more developed, faces EU import taxes of up to 30% for most goods and up to 100% for "sensitive" products, a factor that has caused projects to fall through.

https://asia.nikkei.com/Economy/Thailand-scraps-new-economic-zones-and-plans-regional-linkups

With its new EEC Thailand lacks the 30,000+ skilled workers to meet operational demands according to foreign investor Japan.