The government is also targeting higher overall actual investment of USD 14.23 billion in the EEC
Thailand will offer 10-year visas for investors in targeted businesses in its industrial eastern region to attract foreign investment, as per a statement by the ministry.
According to a press statement, the visa plan, which starts next year, will facilitate investors as the government seeks to ease restrictions. The government is also targeting higher overall actual investment of THB 500 billion (USD 14.23 billion) in the Eastern Economic Corridor (EEC) during 2023-2027, or THB 100 billion a year.
Actual investment in the EEC is now about THB 75 billion a year, adds the statement. Companies investing in modern, environmentally friendly industries can bring in employees, specialists, executives and professionals, who will get an EEC work permit, a flat income tax rate of 17 pc and a 10-year visa, the ministry said.
The EEC, which covers three provinces east of the capital, Bangkok, is a centrepiece of government efforts to boost growth and encourage investment, particularly in high-tech industries. The statement adds that Southeast Asia’s second-largest economy grew a much lower-than expected 1.5 pc in the July-September quarter from a year earlier, the slowest pace this year, on weak exports and government spending.
