8-7-2023 (BANGKOK) The Thai government is actively seeking to strengthen its economy by inviting French corporations to make substantial investments in the Eastern Economic Corridor (EEC), a designated area for high-tech industrial development spanning Chachoengsao, Chon Buri, and Rayong.
Among the 11 industries identified as prime investment opportunities within the economic corridor, aviation holds a prominent position. Chula Sukmanop, the secretary-general of the EEC Office, disclosed that French companies have expressed interest in investing in the corridor following meetings with EEC officials.
Leading corporations, particularly those specializing in the aerospace and defense sectors, have signaled their intention to venture into these investment opportunities. Notable companies include Safran Group, Thales Group, Satys Aerospace, Volocopter, GIFAS, and VoltAero. Meetings have also taken place with Total Energies, Dassault Systemes, Renault Group, and Mouvement Des Entreprise De France, the largest employer federation in France.
As part of this new wave of investment, the Thai government is actively developing various infrastructure projects within the EEC area. These projects range from high-speed rail systems connecting major airports to the development of U-Tapao Aviation City and the expansion of deep-sea ports in Map Ta Phut (Rayong) and Laem Chabang (Chon Buri).
Reports from the EEC Office highlight France as Thailand’s ninth-largest trading partner, with French investments amounting to several billion baht in recent years. From 2018 to 2022, the EEC region has attracted investments worth 15.4 billion baht in medical, automotive, and aerospace industries. In line with global efforts for carbon neutrality, many French companies plan to invest further in renewable energy and the bio-, circular, and green (BCG) economic development sectors.
In an effort to reduce carbon dioxide emissions, Thailand is encouraging manufacturers to adopt new technologies aligned with the BCG framework, which enhance product value while minimizing environmental impact.
