On February 8, 2018, the East-West Economic Corridor (EEC) Act was enacted by the Cabinet of the Kingdom of Thailand. This is the basic law of the EEC project, which is the core of Thailand’s new economic strategy “Thailand 4.0”. This section describes this EEC method.
The EEC Law is a law that includes details for developing the target area.
The development area stipulated by this law is Chachoengsao, Chonburi, and Rayong in the southeastern part of Bangkok. In these areas, the Thai government has disclosed the amount of investment for each project, such as investment in infrastructure development such as airports, ports and railways, and investment in hospitals and the tourism industry.
In addition, other investment benefits set by the government include setting a corporate tax exemption period, issuing work visas, import tax exemption, granting subsidies, etc., increasing advanced industries and human resources, and from foreign capital including Japanese companies. It seems that it is also aiming to attract investment.