Investment/EECO and HSBC

Editorial staff

The Eastern Economic Corridor Office of Thailand (EECO) and HSBC Thailand announced a strategic partnership to drive global investment into the Eastern Economic Corridor (EEC), reinforcing the country’s positionas a hub for high-value industries.

The collaboration with HSBC uniquely provides the EECO with access to HSBC’s international network and truly global investor base spanning 58 markets. Through a memorandum of understanding (MoU), both organizations will expand investor outreach and unlock opportunities from key investment corridors, such as mainland China, Europe, ASEAN, Middle East, India, Taiwan, and Japan.

The partnership will also seek to enhance investment attraction strategies, while offering comprehensive financial and advisory support to facilitate foreign investment.

With the goal to support the EECO’s five-year target of securing a total actual investment of THB 500 billion, the partnership is expected to attract and facilitate foreign investment, driving growth across targeted industries, including next-generation automotive, digital technology, medical and healthcare, bio-circular-green (BCG) industries, advanced agriculture, aerospace, and logistics, further enhancing Thailand’s global supply chain integration.

Chula Sukmanop, EECO’s secretary-general, said: "The EEC is a critical engine for Thailand’s economic growth. Our focus is to foster economic growth through high-quality investments that are deeply integrated with local communities and the surrounding area. Foreign investment has always been crucial to EEC’s growth. As the EEC continues to grow, it is crucial to enhance its competitiveness and establish a seamless, investment-friendly ecosystem. HSBC, with its deep financial expertise and global presence across 58 countries and territories, is the ideal partner to help us drive investment from key economic corridors and strengthen our ability to connect with leading international corporations."

Under the MoU, both organizations will work together to identify potential investors, facilitate investment through targeted outreach programs and leverage the bank’s international network to unlock investment opportunities. In 2025, HSBC will support the EECO’s investment promotion roadshows in key economic corridors, including China, Singapore, Europe, Taiwan, and Japan.

Giorgio Gamba, chief executive officer and head of Banking, HSBC Thailand, reaffirmed the bank’s commitment to supporting Thailand’s investment ambitions, “As international businesses continue to diversify their supply chains, Thailand is experiencing a resurgence of foreign direct investment (FDI) interests due to its strategic location and its well-established manufacturing ecosystem.”

In 2024, 727 billion baht in FDI were approved, marking a two-decade high for the country. The EEC remains central to this growth, accounting for 78% of total FDI value (568 billion baht), underscoring its role as a key driver of Thailand’s investment strategy. Key sectors include smart electronics (256 billion baht), the digital industry (95 billion baht), and next-generation automotives (87 billion baht).”

HSBC has seen continued interest of Chinese companies expanding into ASEAN, as reflected in an 80% year-on-year increase in the number of Chinese corporates entering the region through our commercial banking network in 2023, and Thailand stands out as a key investment destination. While investment from China cover a broad range of industries, electric vehicle production emerged among the top sectors, contributing approximately 275 billion baht in total investment value from 2018 to Q3 2024.

Thailand has also been successful in attracting a vast amount of interest in data centers, due to its stable energy supply and its status as Southeast Asia’s second-largest digital economy. This momentum is further strengthened by the EECO’s MoU with China’s Ministry of Commerce, which paves the way for deeper investment cooperation in the digital economy.

India and the Middle East are also important investment corridors for Thailand, underpinned by strong trade flows and investment synergies. HSBC’s extensive network and expertise in these markets can help drive more foreign direct investment into the EEC.