Investment/EEC

Editorial Team

EEC has collaborated OVA to draw European investors

EEC has collaborated with the Ostasiatischer Verein e.V. (OAV), the German Asia-Pacific Business Association, to attract investment from Europe's leading companies to invest in targeted industries in a bid to reach investment target of around US$60 million in 2027.

Chairman of the Eastern Economic Corridor (EEC) advisory board Kanit Sangsubhan along with Mrs Nongnuth Phetcharatana, Special advisor foreign affairs, welcomed the delegation of OAV – German Asia-Pacific Business Association, on their mission to Thailand during 15-16 November as the Eastern Economic Corridor Office of Thailand’s (EECO) invitation.

Following the morning brief session from Mr. Georg Schmidt, the ambassador of Germany to Thailand, EECO executives have teamed up with economic experts from related government agencies to organize business dialogues under the topic of “Business Opportunities in Thailand and the EEC”.

The meeting informed the progress of EEC major projects, the investment promotion plan for Thailand’s 12 targeted industries, incentive packages, related government policies, business opportunities resulting from the latest FTAs, as well as economic research and partnership opportunities have been in discussion to exchange up-to-date policies and Thailand’s economic developments with the OAV, the association of 500 German companies and businessmen who are interested in seeking business opportunities and investment in the Asia Pacific Region, particularly Thailand.

This meeting is regarded as another accomplishment of EEC’s work after the EECO had the opportunity to host a welcoming session for Saudi investors on the November 7, 2022.

The meeting reported that EEC executives visited to Germany in May 2022, where they met with German investors to create investment opportunities in Thailand.

EEC Office, together with the Royal Thai Embassy in Berlin, organized a forum for German investors, in order to inform them about business opportunities and incentives in targeted industries in the EEC, especially in the sectors of electronic vehicles, transportation and logistics, and digital, which are in line with BCG economy investment.

On this occasion, the OAV delegation visited several projects in Chonburi, such as Laem Chabang Deep Sea Port, EEC Digital Park (EEC), EEC Automation Park, and EEC Genomics and Energy Absolute (EA), the largest battery manufacturing plant in Thailand.

A networking dinner event was organized among a delegation and executives of German companies based in the EEC area to exchange direct experiences, to share investment perspectives, and discuss challenges in doing business.
Another session related to digital industries and human resource development to serve targeted industries was organized to exchange ideas at Amata City Chonburi.

Germany is Thailand's fourth-largest investor in Europe. At present, there are more than 600 German companies investing in Thailand, especially world-renowned investors in high-tech industries such as Siemen, Mercedes Benz, BMW, Schaeffler, Robert Bosch, and Continental. The German business sector has shown greater interest in investing in the EEC, with confidence in the potential of infrastructure development to support investment that will make Thailand a regional hub for multimodal transportation in the near future.

A trip to Thailand and visits to the EEC by German businessmen this week are expected to give impetus to the EEC’s ambitious objective of attracting investment of approximately 400- 500 billion baht per year for the next 5 years.