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New incentives for Electric vehicle and railway investment in EEC

The Thai government has continued to promote investment in the Eastern Economic Corridor (EEC), especially its electric vehicle and railway sectors.

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The Thai government has continued to promote investment in the Eastern Economic Corridor (EEC), especially its electric vehicle and railway sectors.

Prime Minister Gen Prayut Chan-o-cha chaired a meeting of the Board of Investment (BOI). The meeting resolved to support investment in the EECi, or Eastern Economic Corridor of Innovation.

This would involve the establishment of a science park in the corridor to foster research and development.

Firms looking for investment incentives must apply for the privileges by December 30th, 2019 and establish a base of operations in the EECi by December 30th, 2022.

Furthermore, the BOI resolved to support investment in the Orange Line electric railway from Bang Khun Non – Minburi, as well as in Plug-In Hybrid Electric Vehicles, which are currently being developed by Mitsubishi Motors (Thailand) Co., Ltd.


Firms looking for investment incentives must apply for the privileges by December 30th, 2019

EECO to push for educational upgrades, develop human resources

The Eastern Economic Corridor Office of Thailand (EECO) has continued to push for educational upgrades and develop human resources to meet the needs of the labor market for the EEC project.

The EECO has cooperated with the government to hold a meeting to summarize the study on the demand for manpower in the target industries.

The opening session was presided over by EECO Secretary General Khanit Saengsuphan.

The EECO has planned on upgrading education quality according to the needs of modern industrial development and organize educational curricula and learning to meet requirements of jobs to allow personnel to earn high incomes.


Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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Business

Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak

The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.

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The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.

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