Foreign investment in the Eastern Economic Corridor (EEC) from January to October 2024 amounted to 45.7 billion baht, representing an increase of 146 percent over the same period of 2023.

Director-General of the Department of Business Development Auramon Supthaweethum said that, during the 10-month period, a total of 251 foreign investors were interested in investing in the EEC, an increase of 128 percent, when compared to 110 investors over the same period of 2023. This number also accounts for 32 percent of the total foreign investors granted permission to operate in Thailand this year.

Japan was at the top of the three largest foreign investors, with 86 investors and an investment value of about 16.2 billion baht. China came second, with 59 investors and eight billion baht in investment. Hong Kong ranked third, with 18 investors and 5.2 billion baht in investment. A total of 88 investors were from other countries, with an investment value of 16.3 billion baht.

Most of the foreign investments in the EEC involved (1) engineering services, (2) automotive parts design services, (3) machinery and equipment installation, testing, repair, maintenance, and training services, (4) software platform services, (5) and original equipment manufacturer services.

The development of the EEC, comprising Chon Buri, Rayong, and Chachoengsao provinces, has achieved significant progress, as seen from increased investment from foreign investors, which contributes to Thailand’s overall economy.

Described as the new engine of growth, the EEC is a special economic zone and includes activities to upgrade Thailand’s transport and logistics infrastructure in order to provide a solid connectivity platform to link Thailand with the markets of the Asia-Pacific region, the Indian Ocean Rim, and beyond.

A number of promotional privileges have also been granted to investors in this economic zone.