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Thailand’s Eastern Economic Corridor Sets New Investment Targets
Thailand’s Eastern Economic Corridor (EEC) has a new investment target of 500 billion baht over 5 years. The Laem Chabang deep seaport is undergoing a 30 billion baht expansion.
Thailand’s Eastern Economic Corridor (EEC) sets new investment target
Thailand’s Eastern Economic Corridor (EEC) has announced a new investment target of 500 billion baht (US$13.7 billion) over the next five years. The EEC, which straddles three eastern provinces of Thailand – Chonburi, Rayong, and Chachoengsao – off the Gulf of Thailand coast and spans 13,285 square kilometers, aims to develop its eastern provinces into a leading ASEAN economic zone. The Thai parliament approved the law for trade and investment in the EEC on February 1, 2018.
EEC as the centerpiece of Thailand’s economic growth
The Laem Chabang deep seaport, located in the EEC, began its Phase 3 expansion in 2023. Valued at 30 billion baht (US$927 million), this expansion will see the port have a container throughput capacity of 18 million twenty-foot equivalents (TEU) per year once completed in 2029. The project, a collaboration between the Port of Thailand Authority (PAT) and the GPC International Terminals consortium, aims to develop the Laem Chabang Port towards the world’s top 10 ports, complete with full automation management systems.
Laem Chabang Port poised for significant growth
The F1 and F2 container berths at the Laem Chabang Port are expected to collectively generate 8 billion baht (US$245 million) per year. Once the Phase 3 expansion is completed, the port is expected to become one of the world’s top 10 ports, with significant potential for economic growth and development.
Read the original article : Thailand’s Eastern Economic Corridor Sets New Investment Targets
This article was first published by AseanBriefing which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, India, and Russia. Readers may write to [email protected].
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