Thailand approves major projects to promote EEC development
The Board of Investment (BoI) of Thailand recently approved five investment projects worth a total of 40.46 billion THB (nearly 1.3 billion USD) during a meeting chaired by Prime Minister Prayut Chan-o-cha, reported Thai media on February 26.
Thai Prime Minister Prayut Chan-o-cha(Photo: AFP/VNA)
Bangkok (VNA) – The Board of Investment (BoI) of Thailand recently approved five investment projects worth a total of 40.46 billion THB (nearly 1.3 billion USD) during a meeting chaired by Prime Minister Prayut Chan-o-cha, reported Thai media on February 26.
All projects will be launched in the Eastern Economic Corridor (EEC).
The highest investment proposal comes from a Chinese investor, Ju Xunning, who plans to invest 10.06 billion THB (322 million USD) to establish a car tyre production project in Chon Buri province.
According to the BoI, the project will help promote the rubber industry in Thailand. It will use up to about 23,840 tonnes of rubber per year, with an estimated value of 1.43 billion THB (over 45 million USD), said BoI General Secretary Duangjai Asawachintachit.
A project by General Rubber, another car tyre manufacturer, which is projected to use 35,398 tonnes of rubber per year, was also approved with an investment worth 9.72 billion THB (over 310 million USD).
Furthermore, the board granted approval to a project on the construction of a maintenance, repair, and overhaul hub in Rayong province, which was invested by Thai Airways in partnership with a foreign company, valued at about 6.47 billion THB (206 million USD). Another one belonged to the low-cost carrier Thai Lion worth 6.97 billion THB (233 million USD).
The fifth investment project was invested by AW Thailand, an auto-parts manufacturer. The firm plans to invest 7.24 billion THB (232 million USD) in a project based in Chon Buri province.
The BoI secretary-general said that although the global economy outlook remains uncertain in 2019, the investment prospects for Thailand were promising. –VNA
You should also see
PM urges stronger cooperation between Vietnamese, Chinese Ministries of Justice
Prime Minister Pham Minh Chinh has requested the Ministries of Justice of Vietnam and China to foster cooperation and mutual support, making them to be on a par with the height of the bilateral relations.
See more
World
Indonesia develops sustainable tourism
Indonesia has been working to realise its goal of building a quality, sustainable and environmentally friendly tourism industry.
World
Vietnam to have many opportunities from digitalisation, green transformation: IMF
The International Monetary Fund (IMF) has forecasted that Vietnam will have many opportunities from digitalisation and green transformation, according to IMF Asia and Pacific Department Director Krishna Srinivasan.
World
Thailand’s EV sales forecast to miss target
Electric vehicle (EV) sales in Thailand may fail to reach the estimate of 130,000 units this year as prices are likely to keep changing, according to Hyundai Mobility Thailand.
World
Thailand, EU hope to sign FTA in mid-2025
Before the Songkran holiday, senior officials from Thailand and the European Union (EU) met in Bangkok to discuss ways to promote their relationship, including the framework of the Free Trade Agreement (FTA), green transformation, and Schengen visa waiver, Thai media has reported.
World
India’s trade deficit with ASEAN widens
India's trade deficit with the Association of Southeast Asian Nations (ASEAN) has more than doubled since the implementation of the ASEAN-India Trade in Goods Agreement (AITIGA) in 2010.
