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Thailand speeds up building of eastern economic corridor

A draft of the first civil law designed to activities in Thailand’s Eastern Economic Corridor (EEC) will be submitted to the National Assembly of Thailand on September 29 and is expected to be launched in October.
Thailand speeds up building of eastern economic corridor ảnh 1A draft of the first civil law designed to activities in Thailand’s Eastern Economic Corridor (EEC) will be submitted to the National Assembly of Thailand on September 29 (Illustrative photo: EPA)

Bangkok (VNA) – A draft of the first civil law designed to activities in Thailand’sEastern Economic Corridor (EEC) will be submitted to the National Assembly ofThailand on September 29 and is expected to be launched in October.

The law is hopedto enhance trust of foreign investors, with more than 30 foreign and Thaicompanies expected to invest in the EEC. Investors from Japan, the major group ofinvestors in Thailand, also support the law, which ensures long-term EECdevelopment policy.

Additionally, theBoard of Investment of Thailand plans to provide a five-year preferential treatmentwith a 50 percent duty free to new investment projects, especially in the EEC. Italso considers measures to support investors in the industry and agriculturalsectors in the EEC.

Thailand’sexport value has grown in six consecutive months to the highest rate in thepast 55 months by expanding 13.2 percent in August.

Inthe first eight months of 2017, exports and imports of Thailand rose 8.9 and15.4 percent, respectively.  Exportproducts with strongest increases were auto and parts (11.1 percent), computersand spare parts (7.6 percent) and rubber products (3.7 percent), among others.

Thailandrecorded a trade surplus of 2.09 billion USD in August, compared to an estimateof 520 million USD.-VNA

VNA
#Thailand#Eastern Economic Corridor#EEC#civil law#foreign investors#development policy#investment projects#export value#trade surplus#vietnamplus#Vietnam News Agency
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