A draft of the first civil law designed to activities in Thailand’s Eastern Economic Corridor (EEC) will be submitted to the National Assembly of Thailand on September 29 and is expected to be launched in October.

A draft of the first civil law designed to activities in Thailand’s Eastern Economic Corridor (EEC) will be submitted to the National Assembly of Thailand on September 29 (Illustrative photo: EPA)

The law is hoped to enhance trust of foreign investors, with more than 30 foreign and Thai companies expected to invest in the EEC. Investors from Japan, the major group of investors in Thailand, also support the law, which ensures long-term EEC development policy.

Additionally, the Board of Investment of Thailand plans to provide a five-year preferential treatment with a 50 percent duty free to new investment projects, especially in the EEC. It also considers measures to support investors in the industry and agricultural sectors in the EEC.

Thailand’s export value has grown in six consecutive months to the highest rate in the past 55 months by expanding 13.2 percent in August.

In the first eight months of 2017, exports and imports of Thailand rose 8.9 and 15.4 percent, respectively.  Export products with strongest increases were auto and parts (11.1 percent), computers and spare parts (7.6 percent) and rubber products (3.7 percent), among others.

Thailand recorded a trade surplus of 2.09 billion USD in August, compared to an estimate of 520 million USD.

(Source: VNA)