On March 19, 2018, Office of the Board of Investment (BOI) held the seminar on “Thailand Taking off to New Height”, emphasizing the latest investment promotion policies and measures to support Thailand 4.0 program and the Eastern Economic Corridor (EEC). The event was held at Royal Jubilee Ballroom, IMPACT Exhibition and Convention Centre, Bangkok.
According to the remark made in the opening ceremony by Mr. Somkid Jatusripitak, Deputy Prime Minister, the government has continued to sustain economic recovery through various measures launched during the past two years (2015-2017) and the positive results have reflected significant improvement throughout 2017. In the next few years, all development policies and initiatives led by the government, will transform Thai economy to the innovative technology-based manufacturing and services, reducing inequality and promoting sustainable growth and development. The sectorial investment in 10 strategic industries will drive the country to become the CLMVT regional hub for investment, transport and logistics and tourism.
In addition, Mr. Somkid also outlined the key strategic investments and measures divided into 3 board categories.
The priority development scheme is the investment in infrastructure mega projects, focusing on building national infrastructure to create connectivity at both national and regional levels, such as the development of electric train and railway in Bangkok and nearby provinces, the construction of dual track railway and high speed train to link Thai with neighbour countries. In addition, the government also plans to expand all international airport across the country, including the investment projects in renewable energy and the construction development in natural gas infrastructure.
Secondly, the investment in the Eastern Economics Corridor (EEC) supports the development of targeted industries in accordance with the Thailand 4.0 plan. The construction of intermodal facilities that link road, rail, sea and air modes in EEC and enable EEC to become smart logistics hub and transhipment port at both national and CLMVT levels.
Lastly, investment in digitalization, supporting Thailand 4.0 program can be divided into 4 main sections. The digital infrastructure investment includes the expansion of internet accessibility across the country. The government also invests in submarine cable network to connect Thailand, Hong Kong and China, enabling Thailand to become an international gateway for this region. In addition, digital trading is also prioritized to expand e-commerce market to rural area, increasing market opportunity for local manufacturers and small – medium businesses. The initiatives of digital transformation investment in manufacturing and service sectors allows businesses to enhance performance through technology with the support from the government. In parallel, the government invests in technology to improve efficiency of its service offering, through the E-government program such as National E Payment, E Tax System.