snoop1130 Posted March 1, 2021 Share Posted March 1, 2021 Thailand sees at least $10 billion investment in industrial east this year By Satawasin Staporncharnchai and Kitiphong Thaichareon FILE PHOTO: A view of the business district is seen from the rooftop of the Baiyoke Sky Hotel during the coronavirus disease (COVID-19) outbreak in Bangkok, Thailand, April 29, 2020. REUTERS/Athit Perawongmetha BANGKOK (Reuters) - Thailand expects investment to triple to at least $10 billion in the country's industrial east this year as investment projects previously held by the coronavirus outbreak get pushed forward again as the pandemic eases, an official said on Monday. Actual investment in the Eastern Economic Corridor (EEC) could be at least 300 billion baht ($10 billion) this year, up from 96 billion baht in 2020, or 46% of total project applications, EEC head Kanit Sangsubhan told a briefing. "As investors didn't invest last year, they would have to do it this year. There will be a bunch of projects held up from previous years," he said. The EEC straddles eastern provinces and is a centrepiece of government efforts to boost growth and encourage investment particularly in high-tech industries. Investors are allowed to rent land for up to 99 years. In a separate briefing, Stanley Kang, chairman of the Joint Foreign Chambers of Commerce in Thailand, said the country remained a good investment destination but it needed to reopen as soon as possible to draw foreign investors. "If travelling is difficult, it will be hard to help the economy," he said. "But vaccines have arrived and we hope Thailand will produce vaccines in June, so the second half should be better," he added. On Sunday, the country started its COVID-19 inoculation campaign, but it has yet to lift a travel ban imposed last April to curb the spread of the virus. Thailand's tourism-reliant economy, Southeast Asia's second largest, suffered its deepest slump in over two decades last year due to the impact of the pandemic. The government expects growth of 2.5-3.5% this year. For most of last year Thailand kept infections low, but a second wave emerged in December and slowed activity. Recent cases, however, have slowed sharply. -- © Copyright Reuters 2021-03-01 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
Popular Post 86Tiger Posted March 1, 2021 Popular Post Share Posted March 1, 2021 "...........the country remained a good investment destination .........." I am just a lowly farang. But I can never get around how it is good for me to give 51% control of my investment to some one else. Thankfully, I don't have to figure it out. 2 2 Link to comment Share on other sites More sharing options...
bloodyholly Posted March 2, 2021 Share Posted March 2, 2021 1 Link to comment Share on other sites More sharing options...
hotchilli Posted March 2, 2021 Share Posted March 2, 2021 12 hours ago, snoop1130 said: Thailand expects I didn't read further. 1 1 Link to comment Share on other sites More sharing options...
Bradmeister Posted March 2, 2021 Share Posted March 2, 2021 2 hours ago, hotchilli said: I didn't read further. Wise decision. Neither did anyone else, I hope. 1 Link to comment Share on other sites More sharing options...
mr_lob Posted March 2, 2021 Share Posted March 2, 2021 Mostly from Xi i suppose? Link to comment Share on other sites More sharing options...
newnative Posted March 2, 2021 Share Posted March 2, 2021 8 hours ago, hotchilli said: I didn't read further. '...could be...' I didn't read further, either. Link to comment Share on other sites More sharing options...
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