Thailand’s economic corridor known as the EEC covers over 13,000 square kilometres and includes the provinces of Chachoengsao, Chonburi & Rayong.
For the last 30 years or so these three provinces were designed to support & promote many fast growing industries.
The BOI firmly believes that the EEC will develop into a hub of trade and investment as well as being the centre for regional logistics & transportation. It will be seen also as a centre for human resources, a tourist attraction, and much more importantly an ultra-modern Gateway to Asia.
This “so called” Gateway will focus heavily on a transportation system to distribute goods & passengers all over Asia.
- U-Tapao Airport will be upgraded to an International Airport to accommodate more than three million passengers per year.
- An Aviation Maintenance Center which will include smart technology to provide services with state of the art eco-friendly technology.
- Laem Chabang deep-sea port (to be expanded to the 3rd phase) is the main sea port for containers and transportation of passenger cars and has the capacity of 18 million TEU and 3 million cars per year.
- Map Ta Phut deep-sea port (expansion to the 3rd phase) is a sea port mainly used to transport liquid and natural gas for energy production and to support the national petrochemical industry.
- Satahip commercial seaport is a port designed for modern cruise ships and connects tourists to many destinations from the Gulf of Thailand. The port will also be used for ship building and various oil platform building industries.
- High-speed trains will connect the three international Thai airports, Donmuang, Suvarnabhumi and U-Tapao.
- Double-track railways for freight transport at low-cost will connect Laem Chabang port to Map Ta Phut port.
- Motor-way extension project from Bangkok to Rayong will ease the transportation among the three EEC provinces.
A number of BOI Incentives will be available.
A very generous corporate income tax exemption up to 15 years.
Exemption of import duty on machinery, raw and essential material used for export products and products used for R&D.
Financial incentives for investment in R&D, innovation or human resources development in specific industries.
- A permit to own the land used for BOI promoted projects will be available
- Facilitation for visas and work permits
- One-stop Service for investors
The one-stop service centre will provide comprehensive information related to investment in the EEC region. This centre will also facilitate license application, including trade, import and export licenses. A further incentive for targeted projects in the EEC with special importance to the country, will also receive government support in the form of a Competitiveness Enhancement Fund.
This significant development and transformation of the EEC will lead to Thailand’s economic growth and sustainability. The government has strong commitments to the development of the EEC, as well as to bring prosperities to the Thai people and the country.
As far back as 1987, Map Ta Phut industrial estate was established, which was the beginning of the development of Thai heavy industry, such as petrochemical, auto and electronics industries.
With the incentives mentioned above Thailand is ready to move forward to the next era of Thai business prosperity.