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 ofInvestment (BoI) of Thailand recently approved five investment projects worth atotal of 40.46 billion THB (nearly 1.3 billion USD) during a meeting chaired byPrime Minister Prayut Chan-o-cha, reported Thai media on February 26.
All projects will be launched in theEastern Economic Corridor (EEC).
The highest investment proposal comes froma Chinese investor, Ju Xunning, who plans to invest 10.06 billion THB (322million USD) to establish a car tyre production project in Chon Buri province.
According to the BoI, the project will helppromote the rubber industry in Thailand. It will use up to about 23,840 tonnesof rubber per year, with an estimated value of 1.43 billion THB (over 45million USD), said BoI General Secretary Duangjai Asawachintachit.
A project by General Rubber, another cartyre 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 millionUSD).
Furthermore, the board granted approval toa project on the construction of a maintenance, repair, and overhaul hub inRayong province, which was invested by Thai Airways in partnership with aforeign company, valued at about 6.47 billion THB (206 million USD). Anotherone belonged to the low-cost carrier Thai Lion worth 6.97 billion THB (233million USD).
The fifth investment project was invested byAW 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 althoughthe global economy outlook remains uncertain in 2019, the investment prospectsfor Thailand were promising. –VNA
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Thai Prime Minister Prayut Chan-o-cha
