Thailand is targeting 2.2 trillion baht (US$66.87 billion) of investment in the country's industrial east over the next five years from 2022 to 2026, a government official said on Monday (Sep 13), as the country tries to spur long-term economic growth.
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The investment in the Eastern Economic Corridor (EEC) will be 100 billion baht (US$3 billion) in the eastern aviation city project and 100 billion baht in rail transit-related development, EEC head Kanit Sangsubhan told a briefing.
About 400 billion baht each year will be investment in targeted industries such as modern automotive, digital electronics and modern medical and logistics, Kanit said.
Under the current 2018-2022 plan, investment in the EEC has reached 1.6 trillion baht so far and should hit the targeted 1.7 trillion baht this year, a year ahead of schedule.
The EEC is a centrepiece of government efforts to boost growth and encourage investment particularly in high-tech industries. Investors are allowed to lease land for up to 99 years.