(Photo Ministry of Foreign Affairs)The much-awaited Eastern Economic Corridor (EEC) Act was finally published in the Royal Gazette Monday after a seven-month delay. The act should build up investor confidence in Thailand, said Suphan Mongkolsuthee, chairman of the Federation of Thai Industries (FTI). The much-touted EEC scheme was approved by the cabinet in June 2016, and is aimed at reviving the success of the Eastern Seaboard Development Project, which began in the early 1980s. The government expects to create an aviation maintenance, repair and operations hub with a value of 200 billion baht. The EEC scheme is forecast to boost the country's GDP growth to 5% a year, creating more than 100,000 jobs and generating income exceeding 450 billion baht annually.

Source: Bangkok Post May 15, 2018 00:56 UTC