Thailand agrees $9.6 billion investment in industrial east over 5 years

Thailand agrees $9.6 billion investment in industrial east over 5 years
FILE PHOTO: Workers are seen walking on a construction site in Thailand’s Eastern Economic Corridor industrial zone, Chonburi, Thailand July 25, 2019. REUTERS/Patpicha Tanakasempipat

BANGKOK : Thailand approved on Tuesday a five-year investment of about 338 billion baht ($9.64 billion) in its industrial east from 2023, a government official said, part of efforts to boost the country’s long-term growth.

The Eastern Economic Corridor (EEC) investments will cover 77 projects, mainly in infrastructure and utilities and create about 20,000 jobs, government spokesperson Thanakorn Wangboonkongchana said after a cabinet meeting

The government will invest in 61 projects worth 178.6 billion baht ($5.09 billion), with the remainder in public-private partnership projects, Thanakorn said in a statement.

The EEC, which covers three provinces east of the capital Bangkok, is a centerpiece of government efforts to boost growth and encourage investment, particularly in high-tech industries.

($1 = 35.0900 baht)

 

Source: Reuters