Japanese ready to invest in EEC

BANGKOK, Sept 10 (TNA) -- Japanese businessmen are interested and prepared to invest in the Eastern Economic Corridor (EEC), promoted by the Thai government, said Chen Namchaisiri, chaiman of Federation of Thai Industries. His remarks were made after he travelled to Japan recently and held talks with investors there. Japanese investors have reiterated that Thailand remains their key investment country in the Association of Southeast Asian Nations (ASEAN) while they consider that investment in other countries is meant as enlarging their investment after Thailand, said Mr Chen. It is hoped that the EEC Act would be approved into law and enforced in the last quarter this year. It is also expected that after becoming law, the number of promotional privileges seeking by foreign investors in Thailand would be increased. Industry Minister Uttama Savanayana has said earlier that implementation of the EEC Act has been delayed until next month. It will be rewritten due to several issues that have proven cause for concern. Mr Chen said the EEC which straddles three Thai eastern provinces -- Chon Buri, Rayong and Chachoengsao -- already have several factories presently which could support key industries such as vehicles. The three eastern provinces off the coast of the Gulf of Thailand cover the total area of 13,285 square kiloemetres. The Thai government hopes to complete the EEC by 2021, turning these provinces into a hub for technological manufacturing and services with strong connectivity to its ASEAN neighbours. (TNA)