Bangkok – The government is continuing to promote investment in the Eastern Economic Corridor (EEC), especially in the electric vehicle and railway sectors.
Prime Minister Gen Prayut Chan-o-cha chaired a meeting of the Board of Investment (BOI) this week that resolved to support investment in the EECi, or Eastern Economic Corridor of Innovation. This involves the establishment of a science park in the corridor to foster research and development. Firms looking for investment incentives must apply for the privileges by December 30th, 2019 and establish a base of operations in the EECi by December 30th, 2022.
Furthermore, the BOI resolved to support investment in the Orange Line electric railway from Bang Khun Non – Minburi, as well as in Plug-In Hybrid Electric Vehicles, which are currently being developed by Mitsubishi Motors (Thailand) Co., Ltd.
The meeting also endorsed other projects, including the establishment of science parks in the provinces of Chiang Mai, Khon Kaen, and Songkhla, representing the North, Northeast, and South of Thailand, respectively. The science parks would foster scientific research in the wider region and enhance the competitiveness of Thai businesses.