The EU-ASEAN Business Council (EU-ABC), in collaboration with the European Association for Business and Commerce (EABC) and over 20 representatives from the European private sector, paid a courtesy call on the Prime Minister of Thailand, Gen. Prayuth Chan-o-cha, on 29 November 2022 at Government House to increase opportunities for investment from Europe in Thailand.
The European Union (EU) makes up the fifth-largest trading partner and the third-largest investor in Thailand. In addition, Thailand and the EU share the same values when it comes to driving the countries’ economies, along with eco-friendliness and sustainability.
The Thai government has implemented the Bio-Circular-Green (BCG) Economy model for the country’s development by reinforcing investments in science and technology and activities that will create sustainable development and address global environmental concerns. The Eastern Economic Corridor (EEC) of Thailand offers opportunities for both domestic and foreign investors that support industries that correspond with the BCG, by providing them with tax and non-tax incentives.
Thailand’s key policy of the BCG, moreover, corresponds to the policy of the European Green Deal, which is aimed at transforming the EU into a modern, resource-efficient, and competitive economy, ensuring no net emissions of greenhouse gases by 2050, economic growth decoupled from resource use, and neither person nor place left behind. (PRD)