Eastern Economic Corridor (ECC) Thailand has been witnessing stream of Chinese delegations. Recently, a group of Chinese officials met with their Thai counterparts at the sixth Joint Committee meeting on Trade, Economic Cooperation between Thailand and China, and Investment. Co-chaired by Sonmkid Jatusripitak, the Deputy Prime Minister, and Wang Yong, the Chinese State Councillor, they planned a development worth approximately 1 trillion baht in EEC, which includes construction of a high-speed rail link between major international airports Don Mueang, Suvarnabhumi, and U-Tapao.
The scaling of U-Tapao into an important regional airport that is likely to accommodate 60 million passengers, the development of an airport city, aviation-related logistics hub, and expansion of Map Ta Phut, Sattahip, and Laem Chabang seaports are some of the other projects.
The Deputy PM said that apart from infrastructure development the Chinese investors are also interested in the new technology and innovation in the Eastern Economic Corridor locations. The State Councillor said that the Chinese investors are equally interested in industries like new-generation vehicles, digital infrastructure, energy, satellites, tourism, and smart logistics. In fact, a MoU on space was signed during this meet between the Geo-informatics and Space Technology Development Agency (GISTDA), Thailand, and the National Space Administration of China.
According to the latest report, the Bangkok Bank has experienced a shift in the Chinese investment towards high-value industries in Thailand. Similarly, a MoU has been signed with the Hong Kong Trade Development Council under the Belt and Road Initiative as a partner to increase trade and investment.
Taking this opportunity, the Thai government is using the Eastern Economic Corridor to boost Thailand as the logistic hub while linking it with other ASEAN countries with the global investors. And this seems to be working with all the Chinese investors.
