EEC to lift Thailand from middle income nation

BANGKOK, September 20 (TNA) - The government-backed Eastern Economic Corridor (EEC) is anticipated to help lift Thailand from the status of a middle income nation in the foreseeable future. Kalin Sarasin (กลินท์ สารสิน), Chairman of the Thai Chamber of Commerce and the Board of Trade of Thailand, told journalists on September 19 that the development of EEC would be a significant transitional period before the Thai Kingdom to be listed as a high income nation. Kalin, who is also a member of the National Innovation Board, explained that EEC is attracting new investment projects in high potential, innovative industries and also in conventional industries, which will strengthen the domestic industries and the national economic fundamentals through more employment and the expanding industries, including those in the domestic tourism. Kalin pointed out that the further development of local infrastructure and logistics systems to be connected with other countries in the region will not only support and facilitate investors at EEC, but also stimulate the national economic growth. The TCC chair projected that public investment projects at EEC alone should reach 300 billion baht annually over the next five years, excluding a large amount of private investment projects in each year additionally, the public and private investment projects of which should boost Thailand's gross domestic product (GDP) by 1-1.5 per cent annually. The TCC chair quoted the President of the Japanese Chamber of Commerce in Bangkok, Soji Sakai, as saying that at least 40 per cent of members of a large Japanese business delegation expressed their interest in investing in EEC after their recent visit to Thailand. According to the TCC chair, EEC should draw more Japanese investment projects in the future when planned infrastructure projects are concretely developed and completed, including high speed train systems. The TCC chair revealed that TCC will work together with Bangkok-based University of the Thai Chamber of Commerce to develop curricula to prepare young students for becoming strong personnel to serve growing Thai industries, including those at EEC, while also sending teams of experts in specific sectors to help develop skills of workers at EEC. Besides, TCC plans to help turn Pattaya in seaside Chon Buri Province in the Thai East to become a domestic hub for modern business and tourism sectors. (TNA)