By Martin Gøttske
The Thai government has approved a law designed to speed up a 45 billion USD plan to develop the industrial east and attract foreign investors, as the country’s rulers seek to boost long-term economic growth.
Growth in Southeast Asia’s second largest economy has lagged regional peers since the army took power in 2014.
The junta hopes the Eastern Economic Corridor (EEC) development plan will lift growth to about 5 per cent a year by 2020. The law would offer investors in the EEC benefits such as tax breaks, the right to rent property for up to 99 years and they will not have to comply with currency exchange control rules.