Eastern Economic Corridor (EEC)
The Eastern Economic Corridor Office of Thailand has been assigned to drive the country’s investment.
The Eastern Economic Corridor Office of Thailand (the EECO) has been assigned to drive the country’s investment in up-lifting innovation and advanced technology for the future generation. The EEC Development Plan will lead a significant development and transformation of Thailand’s investment in physical and social infrastructure in the area. The EEC project will, initially, be focused in three eastern provinces namely Chachoengsao, Chonburi and Rayong, in order to facilitate the economic drive of global business and industry.
Criteria for Selection of Investors and Businesses
- Investors are interested in conducting business in one of the targeted industries.
- Investors have received principle approval for a project or have been promoted/supported by the Thailand Board of Investment.
- Investors are a part of a project which uses modern and advanced technology, which is capable of enhancing target industries within Thailand.
- The next-generation automotive industry
- The intelligent electronics industry
- The advance agricultural and biology
- The food processing industry
- High wealth and medical tourism industries
- Digital industry
- The robotics industry
- Aviation and logistics industry
- Comprehensive healthcare industry
- Biofuel and biochemical industries
Investment Benefits on EEC
- Exemption from corporate income tax for up to 15 years
- Exemption of import duties on machinery and raw materials
- Get the Matching Grants for investment and research
- Permission to own land
- Rights to lease the state’s land
- The lowest income tax rate in ASEAN of 17 per cent
- Five-year work visa
Roles of MVP as a representative and consultancy in relation to the application of project
If you are interested in starting this business, MVP team who is experienced in this matter is ready to provide you with full service as follows:
- Act as a representative and consultant in relation to the project drafting and the presentation to the Board of Investment and Eastern Economic Corridor Office for project approval;
- Tax planning in accordance with the investment policy prescribed by the Board of Investment for the best interest of an investor;
- Consultancy in relation to the application of incentives such as the exemption of machinery and raw material duties;
- Consultancy in relation to the project operation within three years as well as the renewal of all incentives.
Government Agency Involved
- The Eastern Economic Corridor Office (EECO)
- The Board of Investment (BOI)
For further information