Thailand: EEC civilian law hits another snag

  • The implementation of the first civilian law for the government’s flagship investment area, the Eastern Economic Corridor (EEC), is expected to be delayed another month because the vetting process is taking longer than expected, says Veerapong Chaiperm, the governor of the Industrial Estate Authority of Thailand (IEAT).
  • He said that the implementation process is likely to happen in Jan 18, about a month later than the previous deadline.
  • The panel scrutinising the EEC draft law wants to make sure it is flawless as it will govern all business and investment issues in the corridor.
  • This is the third delay of the law, which was previously scheduled to come into effect in Jun 17. Mr Veerapong said the delay is unlikely to affect foreign investor confidence.
  • He said the government can still use Section 44, which gives the Prime Minister sweeping powers to implement orders, to steer the EEC issue.
  • Section 44 was recently used to accelerate city planning in the EEC to pave the way for the quick start of massive infrastructure projects.
  • Following the implementation of the law early 2018, the government is due to finish the details of its public-private partnership (PPP) regulations to allow investors to take part in EEC infrastructure projects, said EEC Office secretary-general Kanit Sangsubhan.

External Link : https://www.bangkokpost.com/business/news/1364811/eec-civilian-law-hits-another-snag

22-Nov-2017


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