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Thailand EEC Can Serve as Gateway to Asian Markets

Mar 25, 2019

A roundtable discussion on ‘Thailand 4.0 and Business Opportunities for Indian Partners’ was organised by MVIRDC World Trade Center Mumbai in association with All India Association of Industries. Ms. Bussarakum Sriratana, Executive Director - International Affair Bureau, Board of Investment, Thailand said, “I invite Indian businesses to explore commercial opportunities in agriculture, automobiles, electronics, medical devices and other manufacturing and services industries in the 13,000 sq. km. Eastern Economic Corridor (EEC), positioned as a gateway to the Asian market, accounting for one third of the world economy. EEC will be the future economic and logistics hub of Asia and is being developed as part of the ambitious Thailand 4.0 initiative. The Board of Investment is keen to promote not only Indian investment in Thailand but also the entry of Thai companies in India.

Ms. Sriratana invited Indian exporters and importers to ‘THAIFEX – World of Food Asia’, which is scheduled from May 28-June 1, 2019 at Bangkok

Mr. Ekapol Poolpipat, Consul General, Royal Thai Consulate General, Mumbai said, “In the next few years, EEC will be transformed into a full-fledged integrated logistics and transport hub with huge potential for investment in petrochemicals, automotive, aviation, advanced manufacturing, biotechnology, agro processing, electronics, robotics and advanced manufacturing.”

Mr. Nanthapol Sudbanthad, Director - Thailand Board of Investment, Mumbai said that exemption from corporate tax for initial years of the project, duty-free import of machineries, low personal income tax, facilitation of work permits and one-stop service for investors are some of the incentives being offered to prospective companies.

Ms. Kittiya Bantadchan, Vice President, Commercial Team - Eastern Economic Corridor Innovation, PTT Public Company Limited remarked, “EECi is an innovation zone which will promote high-tech industries supported by world-class facilities for science & technology, research & development. The six target industries promoted in this zone are modern agriculture and biotechnology, bio-fuel & bio-chemicals, high performance battery and modern transports, automation, robotics, and intelligent electronics, aviation and space, medical devices.”

Ms. Rupa Naik, Senior Director, MVIRDC World Trade Center Mumbai said, “I am confident that Thailand 4.0 project and India’s Make in India and Digital India programmes will take this relationship to new heights. I suggest Board of Investment Thailand to facilitate the setting up of World Trade Centers along its Eastern Economic Corridor to promote cross-border trade and investment. ”

In Photo:

Ms. Bussarakum Sriratana (right) addressing the participants. Also present is Mr. Ekapol Poolpipat.