The EEC is an area-based development initiative, aiming to provide state-of-the-art infrastructure upgrades in the well-known Eastern Seaboard region of Thailand, namely Chachoengsao, Chonburi and Rayong provinces – a key driver of Thailand’s economy and competitiveness. The area is already home to long-established automobile and electronics factories and clusters and light industries.
The government with the support of private sector plans to invest in massive infrastructure projects, such as U-Tapao Rayong-Pattaya Int. Airport expansion and aerotropolis, Map Ta Phut port expansion, Laem Chabang port expansion, double-track railway, high-speed rail and Intercity Motorway. And, alongside private sector support, there are plans to build environmentally sustainable smart cities, technology parks and other facilities.
The government aims to attract targeted new industries such advanced technologies as aerospace, artificial intelligence, biosciences, electric vehicles, fintech, robotics and production of sophisticated medical devices etc.
"Courtesy by the Eastern Economic Corridor Office"
Strategic location at the heart of the 10-nation ASEAN economic community and market of 660 million consumers, it is the second-largest economy in ASEAN with a population of 69 million.
Their role is to promote foreign investment in Thailand by providing information, services and incentives and accompany foreign investors as they venture into the country. The BOI has a generic purpose of informing foreign investors about eligible activities and criteria for investment promotion, while the IEAT is focused on industrial estates, having a more hands-on assignment of managing and operating both IEAT’s own managed sites and industrial estates that are jointly developed by private developers. IEAT therefore imposes specific laws and regulations industrial estates and manufacturers within have to comply with.
The Thai government provides a wide range of incentives and investor-friendly regulations to attract investment from around the world. Available incentives include right to bring in foreign skilled workers and their spouses with visa and work permit facilitation, right to own land by 100% foreign capital.
The BOI has set a focus on innovative sectors for higher incentives, including robotics, medical technology, electric vehicles, digital technology and innovations in telecommunication, eco-friendly petrochemicals and plastics and food innovation, among others to support Thailand 4.0, the government’s ambitious 20-year strategy to accelerate the country’s development to a more advanced level.
In addition to basic investment incentives such as tax and duty exemptions, the BOI also introduced merit-based incentives for competitiveness enhancement, technology and innovation, human resources development and a series of promotion measures to encourage investments that will reduce impact on the environment and support sustainable development.
As both Amata City Chonburi and Amata City Rayong are located in the Eastern Economic Corridor (EEC) area, your business may qualify for additional incentives with additional benefits and grants, including exemption of corporate income taxes and duties or special visas issued by the EEC office.