BANGKOK, Jan. 7 (Xinhua) -- Thai Deputy Prime Minister Somkid Jatusripitak on Tuesday told the media after a cabinet meeting that he had given instructions to quickly facilitate and promote investments into the government's flagship hi-tech investment hub at the Eastern Economic Corridor (EEC).
"On Monday, I met with the executives of the EEC Office, delivered policy guidance so that they can quickly get onto with their work to promote to foreign investors to invest in the EEC," said Somkid, who heads the economic portfolio, adding "having foreign direct investments (FDI) into the EEC is one way to spur the Thai economy."
The EEC investment scheme spans three eastern provinces of Chon Buri, Rayong and Chachoengsao, aimed at creating a technological, manufacturing and service hub connected to Association of Southeast Asian Nations (ASEAN) countries.
Several investment projects are already underway focusing on key industries, research and development, advanced technologies and innovations and start-ups.
The EEC Office said that overall investment projects in the pipeline is estimated at 650 billion baht (21.475 billion U.S. dollars) this year.