Leading countries are moving their manufacturing to Thailand, especially in its Eastern Economic Corridor (EEC), for its attractive geographical location and effective control on the novel coronavirus, according to Industry Minister Suriya Jungrungreangkit.
The minister said that this year EEC was welcoming 277 investment projects worth 161 billion baht and the projects were in electrical appliance, electronic, automotive, petrochemical and biological technology sectors.
He believed that despite the impacts of the trade war between China and the United States and the COVID-19 pandemic, Thailand still had economic growth potential due to its location at the center of the grouping of Cambodia, Laos, Myanmar and Vietnam (CLMV) and its internationally recognized control of COVID-19.
Mr Suriya said that EEC would create jobs and its transport infrastructures would connect well with CLMV and other countries. He cited a high-speed railway project to link three main airports and the expansion of the Laem Chabang port.
The minister predicted that more production bases would be relocated from China, Taiwan, Hong Kong and Japan to Thailand because of its effective COVID-19 control. Therefore, the Industry Ministry was improving all industrial estates to welcome foreign investments, Mr Suriya said.
He also mentioned that the Industry Ministry would be implementing projects to promote the food industry from this year until 2027 to develop Thailand into a leading food-producing country. (TNA)