Eastern Economic Corridor


The Eastern Economic Corridor officially the Eastern Special Development Zone , is a special economic zone of three provinces in eastern Thailand. Collectively, these provinces occupy an area of, and in 2016 had an estimated population of over 2.8 million.
The zone was established on 17 January 2017, at the direction of the National Council for Peace and Order, with the mission of promoting economic integration across the. The first law of the EEC is the Eastern Special Development Zone Act, proclaimed on 15 May 2019.

History

The Eastern Seaboard Development Programme was initiated as part of the Fifth Economic and Social Development Plan of Thailand. It aimed at developing the region of the eastern seaboard in order to promote industrial growth and to decentralize economic and population growth. The Thai government approached the World Bank for funding, but was turned away as, in the eyes of the bank, the project lacked "economic rationality". Japan rescued the project by providing a modest 178.8 billion yen in loans, underwriting the construction of 16 projects: ports, roads, waterworks, and industrial parks. Japanese companies then invested heavily in the region., many of the estimated 5,500 Japanese companies in Thailand have facilities in the area.
After the 2014 coup, the NCPO announced the creation of a special economic zone called the Eastern Economic Corridor with a budget of 1.5 trillion baht over its first five years. It is a key component of the "Thailand 4.0" economic policy announced in 2016., the prime minister had invoked the special powers of Section 44 of the interim charter to revoke city plans in three provinces to remove obstacles to EEC development. Planners see the region as strategically important as it borders the gulf as well as being close to Bangkok, and two major airports.

Administrative divisions

The economic zone includes three principal provinces and two peripheral provinces.

Governing body

The Eastern Special Development Zone Policy Office is the governing body of the Eastern Economic Corridor. It is an independent public agency, reporting directly to the prime minister. It was established on 15 May 2019 by the Eastern Special Development Zone Act and replaced the Eastern Economic Corridor Office.

EEC Secretariat

The EEC Secretariat is headed by the Secretary-General of the Eastern Economic Corridor.
No.NameTook officeLeft officeNotes
1Kanit Sangsubhan17 January 2017–

Economy

The EEC had a 2013 GDP of US$158.79bn, and US$63.76bn, about 15% of Thailand's GDP.

Industries

Ten key industries have been identified as potential growth engines for Thailand. These 10 industries are divided into two larger groups as follows:
The EEC Policy Committee approved promotional zones in two categories:

Industrial

Public transport

Air

The Eastern Economic Corridor is served by U-Tapao International Airport, one of three main commercial airports of Thailand. As Bangkok's two international airports are operating beyond capacity, the government intends to turn U-Tapao into a third major destination for airlines. A new second terminal, which will increase airport capacity from 800,000 to three million persons per year. Terminal 2 was partially opened in November 2018 and was officially opened in February 2019.
There are also 41 direct flights landing from China weekly with more airlines scheduled to announce soon. Airport director, Rear Adm Worapol Tongpricha, said the 620 million baht terminal is the start of a three-year, first-phase development. In the second phase, the government will boost the capacity further to 15 million people.

Rail

The Eastern Economic Corridor is served by the State Railway of Thailand's Eastern Line. The main stations are Chachoengsao Junction railway station and Chon Buri railway station.
A high-speed rail line is planned to serve the EEC. The Don Mueang–Suvarnabhumi–U-Tapao high-speed railway will connect Don Mueang International Airport, Suvarnabhumi Airport and U-Tapao International Airport. On 24 October 2019, a 224.5 billion baht contract was signed by the Thai government and a consortium led by Charoen Pokphand Holding to build the railway. The consortium includes Charoen Pokphand ; Ch. Karnchang PLC ; Bangkok Expressway and Metro PLC ; Italian-Thai Development PLC ; and China Railway Construction Corporation Limited. The 220 kilometre line will consist of 181 kilometres of elevated track, eight kilometres of underground track, and two kilometres of surface track. Construction of the rail line will begin 12 to 24 months from the date of contract signing. Trains on the route will operate at maximum speeds of 250 kmph. The consortium will have the right to operate and manage the rail line for 50 years after which project assets will revert to the government.

Water

A passenger-only ferry service from Pattaya to Hua Hin began operation on 12 January 2017 and is operated by Royal Passenger Liner. By road, the journey takes five to six hours. The ferry shortens travel time to about two hours, subject to sea conditions. The ferry cruises at 27 knots on the 113 km journey across the Gulf of Thailand with a maximum passenger capacity of 150 persons. Larger ferries carrying up to 260 people may be added to the service later. Ferries capable of carrying vehicles are projected for 2020.
The Eastern Economic Corridor is served by two ports: Laem Chabang Port and Map Ta Phut Port. Laem Chabang Port is main international port from its opening in 1991. It is Thailand's largest port. The port occupies and is capable of handling the largest vessels.

Health, education and research

The EEC is home to Burapha University, Amata University, CMKL University, and Asian Institute of Hospitality Management. The University of Tokyo, Kyoto University, Waseda University, Hohai University, Hong Kong University of Science and Technology, and the Auckland University of Technology plan to open campuses in the EEC.