Thailand looks to lure more private investment in eastern economic corridor
The Eastern Economic Corridor (EEC) Office is speeding up efforts to encourage private companies to join the government in transforming the economic zone into Thailand's high-tech industrial hub.
Bangkok (VNA) - The Eastern Economic Corridor (EEC) Office is speeding up efforts to encourage private companies to join the government in transforming the economic zone into Thailand's high-tech industrial hub.
Kanit Sangsubhan, special advisor for the EEC's strategic planning, said co-investment between businesses and the government is key to the goal.
Authorities will allocate 5% of the state budget each year to support new investment projects, he noted.
The EEC is expected to host 12 spearhead industries, including electric vehicles (EVs), smart electronics, and affluent, medical and wellness tourism.
Mr Kanit expects the EEC to play a key role in driving the Thai economy, which is projected to post growth of 3.2% this year and 3.6% in 2023.
Experts believe that the EEC will help the government attain its goal of pulling Thailand out of the middle-income trap, he said. According to Kanit, second-phase development at the EEC is expected to contribute 4.5-5% of economic value to Thai GDP./.
The Thai Ministry of Finance has indicated that the Thai economy may not reach a forecast growth of 3.8% next year due to a global economic slowdown, but said this year’s outlook should still be achieved.
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Vietnamese Ambassador to Thailand Phan Chi Thanh on December 4 worked with authorities of the province of Saraburi to discuss measures to step up cooperation between localities of the two countries in investment, trade, economy, tourism, culture and people-to-people exchanges.
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Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
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The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
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Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
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Illustrative image (Photo: //www.aseanbriefing.com/) 
