Its backers say 2025 will be a blockbuster year for the sprawling industrial hub that aims to transform the nation’s economic fortunes with well-paid jobs in high-value industries. But concerns persist about whether the megaproject will genuinely benefit local communities or primarily enrich the Asian conglomerates likely to reap the greatest rewards.
“Our milestone for this project is to have 100 billion baht (US$2.9 billion) invested in the area each year,” said EEC Secretary General Dr Chula Sukmanop.
And the money is certainly needed. Thailand’s once-thriving economy, which grew an average of 5 per cent annually in the early 2000s, has been battered by two decades of political turmoil and coups, culminating in the pandemic. Southeast Asia’s former growth star now trails its neighbours, with the central bank projecting modest growth of 2.7 per cent this year, and 2.9 per cent in 2025.
Enter the EEC: designed to attract renewable energy, digital tech, advanced manufacturing and other industries, the corridor has been marketed as a solution to Thailand’s economic malaise – complete with a high-speed railway, data centres and port upgrades.
