Thailand: Doubts aired over benefits from EEC – 3 Oct 2017

• Somkiat Tangkitvanich, president of the Thailand Development Research Institute, said the EEC will likely raise investment sharply over the next five years as planned, but doubts persist over the breadth of EEC gains.
• “It is right to say that the government is on the right track to bring the country to the sustainable growth of Thailand 4.0,” Mr Somkiat said. “However, there is nothing to ensure us at this moment that the EEC could bring sustainable growth to Thais in other parts of the country and with less environmental encroachment.”
• Pratya Samalapa, head of the Thai chamber of Commerce’s eastern economic development committee said that the state and local administrations need to work together to prevent concentrating any substantial benefit in some specific parties.
• He said foreign investors in particular are keeping an eye on the progress of the EEC bill that will outline details of the zone and how it will be governed.
• Last week, the EEC bill passed its first reading despite concerns about repercussions on the environment. The National Legislative Assembly accepted the bill at its first reading and will have a 30-member committee scrutinise the bill over the next 60 days.
• Movement on the bill will help assure relevant groups and foreign investors that the much-awaited EEC law will be enacted by year-end as planned, said Somchai Hanhiran, the former permanent secretary of the Industry Ministry.

External Link : https://www.bangkokpost.com/business/news/1335475/doubts-aired-over-benefits-from-eec