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Eastern Economic Corridor Strong Government Support Thailand 4.0 Means Opportunities for All Ease of Doing Business Human Capit

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Eastern Economic Corridor Strong Government Support Thailand 4.0 Means Opportunities for All Ease of Doing Business Human Capit Bangkok Chachoengsao Mortorway 35,300 Million Baht High Speed Train 158,000 Million Baht Laem Chabang Deep Sea Port Chon Buri 35,300 Million Baht New Cities 400,000 Million Baht Industrial Estate 500,000 Million Baht Rayong Tourism Industry Double Track Railway Eastern Economic 200,000 Million Baht 64,300 Million Baht Innovation-Driven Economy Corridor U-Tapao The government is International Airport 215,000 Million Baht Map Ta Phut industrial Port developing new growth 10,150 Million Baht hubs by starting with the Eastern Economic Corridor (EEC) which covers Rayong, Chonburi, and Chachoengsao provinces, with a total area of 13,000 square kilometers. The government is also set to accelerate the area’s readiness to support all aspects of investment and economic growth, and fully Thailand 4.0 expects that the EEC will be an important center Ease of Doing Business for trade, investment, regional transportation, Means Opportunities for All and a strategic gateway to Asia. The EEC can be The government of Thailand understands the characterized as follows: importance of effective laws and regulatory Thailand 4.0 demonstrates the government the country to continue on a solid economic footing, - A major industrial area, with a strong focus improvements, and will work to streamline of Thailand’s determination to move the provide sustainable growth and development, on industries where Thailand is a leading government procedures that may cause country forward by reforming the country’s and reduce disparities in society. Moving to global player such as the petrochemicals difficulties for companies to operate, in areas economic structure and enhancing the country’s Thailand 4.0 will bring the country tremendous industry (among the top five in Asia), and such as starting new businesses, requests for competitiveness through attractive policies to opportunities (Opportunity Thailand). Both Thai the automotive and electronics sectors. approvals/permissions, tax payments and the increase foreign investment in the target industries, and international investors are encouraged to be - A region offering modern and efficient facilitation of visas and work permits to support and by promoting the country as a regional trading strategic partners in this important endeavor - infrastructure such as deep sea ports, an improved investment environment and enhance and investment hub. This is a large but necessary Transforming Thailand: Partnering for the future. an airport, rail systems, highways, and the country’s competitiveness. step forward for Thailand, and will enable industrial estates. - A skilled labor pool. - A leading location for tourism. Human Capital The government of Thailand is committed to Strong Government Support enabling human resource development to support the targeted industries and Thailand 4.0. This New investment promotion tools have been includes improvements in local human resources developed, including the establishment of the to provide the requisite skills needed by employers 10-billion baht Competitive Enhancement Fund and the professional support necessary to move for targeted industries and additional fiscal the country forward. Around 140,000 vocational incentives. The Investment Promotion Act has education graduates and 400,000 bachelor’s been amended to add new or enhanced incentives degree graduates will enter the work force in to attract high-value investments to reinforce 2017. Every year, there are roughly 250,000 the country’s competiveness, especially through vocational and university graduates in Science investments in targeted industries that use & Technology-related fields. To complement the advanced technologies, and demonstrate strength local talent pool, the government will also facilitate Office of The Board of Investment in innovation and R&D. the entry and stay of foreign experts to support 555 Vibhavadi-Rangsit Road, Chatuchak, the country’s development. Bangkok 10900 Thailand Tel: +66 (0) 2553 8111 Fax: +66 (0) 2553 8315 Thailand Board of Investment Website: www.boi.go.th www.boi.go.th E-mail: [email protected] with a stronger and more balanced economic foundation. According to the 20-year National Strategic Plan, the government is planning to This year is expected to an important milestone strengthen the local economy and will further for Thailand. With the many changes taking place AEC improve Thailand’s connection to world markets. in the Asia-Pacific region and the world, the This will be done by strengthening the economy government saw both a need and an opportunity through the “The Sufficiency Economy” approach to reform the Thai economy, placing it in a path of and in cooperation with the public and private solid and sustainable growth. Given the major policy sectors, and academic institutions. Biotech Mechatronics Road to developments and economic reforms underway, Thailand 4.0 Investments in the government of Thailand has designated 2017 By transforming to Thailand 4.0, the government Digital Infrastructure as a year of opportunity – Opportunity Thailand – aims to push for changes in three main areas: To ensure Thailand 4.0’s success, the government and of investment to build a solid foundation of will work together with both the public and private stability, prosperity, and sustainability. The Digital Economy is a major priority for the Bio-Med sectors, academic institutions and civil society to government, and will have a positive impact on put the right mechanisms in place, covering all the population, but will also increase the country’s “innovative” aspects such as investments in infrastructure, productivity while making the Thai economy Thailand value-added products human capital, education, and government more competitive in regional and global markets. support. The government will support the production of at the Heart of Asia hardware, software, communications devices, Embeded Service Design & the World’s Engine of Growth Technology Technology and digital platforms to support industrial sectors Investments in and financial services particularly investments in producing “consumer goods” Opportunity Thailand was created in the context Logistics Infrastructure high-speed internet access to support future where Asia is now the world’s growth engine industries, innovation, and e-commerce. in terms of trade, investments, and finance. Thailand 4.0 This policy development does not involve jumping The government will invest in the development of Japan, China, South Korea, India and ASEAN are a New Economic Model focus on production- into new industries and leaving existing ones strategic logistics and transportation infrastructure The “Smart City” initiative is the result of key players in driving this growth. Currently, Asia physical capital based behind. The focus is on making the necessary in public transportation, including expansion of BTS collaboration between the Ministry of Digital sharper focus on contributes 32% of the world’s GDP with a total Thailand has been through various economic human capital, technology, service-based modifications to create balanced and sustainable skytrain lines; additional train connections between Economy and Society, related government offices population of 3.5 billion. models, starting from “Thailand 1.0,” which innovation, and creativity economy growth and improving the country’s social and Bangkok and surrounding areas; high-speed trains and provincial governments. Smart City will develop focused on the agricultural sector, to light economic foundations, thereby increasing the living from Bangkok to Chiang Mai, Bangkok to Rayong; through support for innovation and technological Thailand serves as an economic hub of Asia by industries with “Thailand 2.0,” where the country standards of all Thais. Thailand 4.0 will connect and Bangkok to Hua Hin; highway/expressway advancements that have positive social and virtue of its strategic location in the heart of the utilized cheap labor and local natural resources, Driving Economic Growth and strengthen the core upstream technologies expansions; development of Laem Chabang port; economic impacts, including improvements in AEC benefiting production, trade, exports, and through to “Thailand 3.0,” which focused on more with downstream targeted industries, startups, and expansions of all three airports in the greater tourism. Smart cities are initially set to be located and SMEs. Bangkok area - Suvarnabhumi, Don Mueang, and in three provinces - Phuket, Chiang Mai and logistics. The country borders Cambodia, Laos, complex industries to attract foreign investments through Innovation Myanmar, and is a short distance from Vietnam, making Thailand a successful production hub U-Tapao. Khon Kaen. countries known as CLMV, which are undergoing for exports. However, under “Thailand 3.0,” the Thailand 4.0’s “New Engines of Growth” consist of rapid growth. Thailand is therefore one of the most country has faced the middle-income trap, growing two parts: the upgrading of five existing industries These investments will support vital connections Another initiative, “Digital Park Thailand,” to suitable investment destinations - connecting Asia income inequality, and imbalanced development. (Agriculture and Food, Tourism, Automotive, between Thailand and the surrounding sub- be located in Sri Racha, Chonburi province, will to the world. These major concerns prompted the government Electrical & Electronics, and region, and ensure efficient transport networks support technology transfer and the creation of to transform Thailand’s
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