EEC project to stimulate investment

BANGKOK, March 18 (TNA) -- Industry Minister Uttama Savanayana is optimistic that the government-sponsored Eastern Economic Corridor (EEC) Development Project, aimed at developing Thailand’s Eastern Seaboard into a leading economic zone in ASEAN, would create huge investment in the country. Mr Uttama said during a seminar on Friday that the project, aimed at further developing basic infrastructures, targeted industries, tourism and creating new communities in three eastern provinces, would help stimulate the biggest investment in three decades in the past. At least 1.5 trillion baht would be invested in those three eastern provinces including Chachoengsao, Chon Buri and Rayong during the first five years, he said. Five major development projects will be launched in the region this year, said Mr Uttama. These projects are new commercial airport at Utapao, high-speed rail, eastern gateway to Asia, targeted industries pioneer and eastern region becoming city of the future. Mr Uttama said 80 per cent of the total investment would come from the private sector and the remainder from the state. A meeting to be held by EEC Development Project committee, headed by Prime Minister Gen Prayut Chan-ocha, is scheduled to be held on April 5. Besides developing three eastern provinces, an innovative centre and a Digital Park Thailand are planned to be established and foreign investors would be invited to invest. (TNA) The Cabinet approved the EEC Development Project last June. (TNA)