As part of the upcoming elections, Thailand's five major political parties presented their programs for the development of the Eastern Economic Corridor (EEC), the country's flagship project. The main promises in their programs are related to attracting investments, creating new industries, developing infrastructure and supporting small and medium enterprises.
Thai Prime Minister and United Thai Nation (UTN) presidential candidate Prath Chan-o-cha said that if his party wins the election, it could generate 4 trillion baht in three years for the WEC by investing in new industries such as electric vehicles, smart electronics, data centers and cloud services. He promised to take measures to attract foreign investment in new technologies and transfer production to Thailand.
The Thai Sang Thai Party said it will improve WEC development guidelines to create investment opportunities for Thai small and medium-sized enterprises (SMEs), including the establishment of a cluster of 100 cosmetics firms.
Palang Pracharath (PPRP) Policy Committee Chairman Uttama Savanayan said his party will accelerate the development of WEC infrastructure, including the Don Muang-Suvarnabhumi-U-Tapao high-speed rail line and the eastern aviation city. He also promised to increase the competitiveness of Thai companies on the world stage by providing cheaper land lease prices than foreigners and tax breaks of up to eight years.
Move Forward, in turn, promises that the development of WEC should not have a negative impact on local residents, and all decisions should be made taking into account their opinion. They also stress the importance of supporting local SMEs and offer tax breaks and soft loans for such companies.
Finally, Pheu Thai plans to create a new business zone that will better match the current economic development trends. They intend to provide investors with special privileges and create favorable conditions for the development of digital technologies and blockchain platforms.
In general, all five parties have their own strengths and weaknesses in their plans for the development of the WEC. However, it is important that the new government be able to unite them and create an effective strategy for the sustainable development of the economy in this region.
