Industrial Development in East Thailand: Election Update


Thailand’s government is gearing up to maintain its investment of 2.2 trillion baht ($64.31 billion) in the Eastern Economic Corridor (EEC) for the next five years regardless of the outcome of their upcoming May election. Chula Sukmanop, the recently appointed EEC Chief, has stated that the removal of the plan is not an option and could potentially be met with backlash from locals.

The money has been earmarked for investments in project such as electric vehicles, medical technology, and other areas that will positively impact the country as a whole. Moreover, according to Chula, Thailand is well placed to attract foreign investors looking to relocate as a result of recession risks in other countries. But while the plans have been announced, not all have come to fruition, with several rail links and airport projects already behind schedule.

The May 14th election is shaping up to be a heated one between Prime Minister Prayuth Chan-ocha’s military-backed party and Pheu Thai Party, supported by billionaire Shinawatra family, currently helmed by Paetongtarn, the 36-year-old daughter and niece of two ex-premiers.

The success of Thailand’s investment plans rests on the shoulders of the country’s upcoming election. In order to ensure the continuation of these projects and to attract new investments, it is crucial that the government remain consistent and diverse in the areas which receive focus. The importance of the successful execution of the EEC investment has the potential to contribute greatly to the progress of the country.