THE EEC AT A GLANCE
The Eastern Economic Corridor (EEC) development is the Thai Government’s $40 Billion Public-Private (PPP) investment program that encompasses 3 key provinces (Chachoengsao, Chonburi and Rayong) and lies at the heart of Thailand’s 4.0 scheme.
The EEC’s 12 targeted S-curve industries are: cars; smart electronics; medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; the digital economy; medical services; defence; and education development.
The EEC aims to stimulate innovation and technological advancement to improve the quality of living, through “7 Smart” solutions – Smart Mobility, Smart People, Smart Living, Smart Economy, Smart Governance, Smart Energy and Smart Environment. The overall plan is to create a “Livable Smart City” for its residents and investors where technological integration, low carbon emission, a circular economy, and access to good public healthcare and education will not only create an environment suited for innovation, but also for sustainable living.
THAILAND, with its population of 66 million, stands at the heart of the ASEAN Economic Community, a 10-nation Southeast Asian common market of 661.8 million consumers. It has the 2nd largest economy in Southeast Asia, with a strong consumer base having a total buying power of over US$246.11 billion.
WHY THAILAND?
The heart of the ASEAN region.
Strategic Location and Market Access
Digital Infrastructure with Data Center
Most Competitive Business Costs
Second Home of International Companies
Thailand Citizenship in 5-years via Investment
Thai Culture/Hospitality and Area Attractions
Availability of Local Financing & Strategic Partners
OTHER COMPELLING REASONS:
Mature and Vibrant Capital Markets
Favorable Conditions for Start-up Companies
Over 20 of 100+ Thai Universities on Board with EEC
Skilled workforce drawn from Thai University System
Exceptional and Affordable Medical Health System
High Quality of Life and Low Cost of Living
EEC & BOI INCENTIVES & PRIVILEGES
Tax privileges under the Investment Promotion Act
Corporate income tax exemption for certain activities for up to 13 years.
Exemption of import duty on machinery.
Exemption of import duty on raw materials for export production and research and development.
Research and development expenses for personnel development for some activities, can be deducted as expenses from 100-300%.
Fund money to support the development of target technology according to the Competitiveness Enhancement Act.
Additional non-tax benefits under the EEC Act
Bringing foreigners into and staying in the Kingdom: Immigration rights of knowledgeable executives or experts and spouses and dependents Able to live in Thailand for a maximum of 4 years
