EEC To See Investment Drop in 2022-2026

BANGKOK (NNT) - According to Secretary-General of the Eastern Economic Corridor (EEC) Office Kanit Sangsubhan, the second phase of EEC development (2022-2026) is estimated at around 398 billion baht, a huge drop from 900 billion baht in the first phase of 2018-2021.

The second phase will focus on rail and road development for better transport in three EEC provinces and provide rail feeders to link the high-speed network and Laem Chabang deep seaport. Smart cities and logistics development are also in the second phase.

Of the total budget to be invested, 85 billion baht is allocated for 2022, with 66 billion baht for 2023, 99 billion baht for 2024, 81 billion baht for 2025, and 67 billion baht for 2026 while most of the investments will be public-private partnership deals.

Mr. Kanit said private investment in targeted industries during the second phase is estimated at 250 billion baht a year, with new S-curve industries such as electric vehicles, digital services, medical services, logistics, and smart farming expected to help generate 100 billion baht in 2022 and 200 billion baht in 2026.

He added the new S-curve industries would also be focused on health, wellness, digital services, decarbonization, logistics, and the bio-circular and green (BCG) economy.

However, Mr. Kanit said Omicron outbreaks will slightly impact EEC development.

The EEC is a megaproject that the government hopes to use to drive Thailand to a high-tech economy. The EEC covers 30,000 rai of land in the provinces of Chon Buri, Rayong, and Chachoengsao to accommodate investments in targeted industries, with advanced technology as the focus.

Infrastructure projects in the first phase comprise a high-speed railway linking three airports, the development of U-Tapao airport, Phase 3 of Map Ta Phut Industrial Port, and Phase 3 of Laem Chabang Port.