Major parties plot courses for Thailand’s EEC flagship development project

United Thai Nation (UTN) Party, Thai Sang Thai, Palang Pracharath (PPRP), Move Forward and Pheu Thai unveiled separate visions for the trade and infrastructure hub in campaigning for next Sunday’s general election, according to Krungthep Turakij on Monday.

UTN’s prime ministerial candidate Prayut Chan-o-cha pledged to generate EEC revenue of 4 trillion baht within three years if his party wins power. The UTN plan features investment in new industries including electric vehicles (EV), smart electronics, data centre and cloud services, Prayut explained.

He vowed measures to attract foreign investment in new technologies and relocated production bases in Thailand.

Thai Sang Thai deputy leader Suphan Mongkolsuthee said his party will improve EEC development guidelines to create investment opportunities for Thai SMEs, including creating a cluster of 100 cosmetics firms.

PPRP's policy committee chair Uttama Savanayana said it would speed up EEC infrastructure development, including the Don Mueang-Suvarnabhumi-U-Tapao high-speed railway and eastern aviation city. It would also focus on linking the EEC with other regions via transport projects such as the Bueng Kan-U-Tapao double-track railway connecting with the Northeast.

He also promised to boost Thai companies' global competitiveness with cheaper land rental fees than offered to foreigners and tax waivers of up to eight years.

Move Forward deputy leader Sirikanya Tansakun said the EEC should operate without causing impacts on locals in its three provinces – Rayong, Chonburi and Chachoengsao. The EEC policy committee should also include representatives of the three provinces while the committee secretary general should be elected by locals, she added.

She also promised to support Thai SMEs by waiving tax for those investing in the EEC, granting soft loans of up to 1 million baht, and helping SMEs penetrate the global market.

Pheu Thai deputy secretary-general Paopoom Rojanasakul said the party's plan to promote a new business zone (NBZ) would supersede current EEC policy.

He said the NBZ will facilitate investors with new business laws, privileges and ecosystems covering land permits, competition, labour, import and export, visas, tax, and intellectual property.

The NBZ would also support the central bank digital currency (CBDC) and blockchain for seamless transactions, he said.

He also promised to boost SMEs so they can compete with large companies.