Bangkok, Thailand – Thailand is moving forward with an ambitious plan to develop its Eastern Economic Corridor (EEC), aiming to attract significant investment over the next few years. The EEC Policy Committee, on November 24, approved the EEC development plan for the 2023-2027 period. The plan targets an average yearly investment of 100 billion THB (approximately 2.8 billion USD), signaling a major push to enhance economic growth in the region.

According to Vietnam News Agency, the development plan is structured around five key strategies. These strategies focus on promoting investment in targeted industries and services, enhancing the efficiency of infrastructure and public utilities, and improving workforce skills in response to technological changes and innovations. The plan also aims to develop cities in the region that are modern, livable, and conducive to career growth, while ensuring that the benefits of investment align with the sustainable development of local communities.

The committee’s approval also included a scheme to offer 10-year visas for investors in targeted businesses within the EEC’s industrial eastern region. This initiative is designed to attract foreign investment and is expected to commence next year. It represents a significant step in Thailand’s efforts to become a more attractive destination for international investors.

The EEC encompasses three provinces east of Bangkok, the Thai capital, and is considered a key component of the government’s strategy to stimulate economic growth. By focusing on high-tech industries and creating a more favorable investment climate, the Thai government aims to transform the EEC into a leading economic hub, not only within Thailand but in the broader Southeast Asian region.