Thailand targets US$10b investments in industrial corridor this year

A deserted road at a usually packed tourist area in Phuket. The tepid response to Thailand’s reopening illustrates the difficulties faced by tourist-reliant countries as they try to shore up economic growth while also protecting citizens from Covid-19. — Bloomberg

BANGKOK: Thailand aims to boost investment in the country's industrial east this year by 44% to around $10 billion, a deputy prime minister said on Monday, after a 45% drop last year due to the impact of the Covid-19 coronavirus pandemic.

The country hopes to receive investment projects worth 300 billion baht ($10 billion) in the Eastern Economic Corridor (EEC) this year, after 209 billion baht last year, or 43% of the country's total investment, Supattanapong Punmeechaow told a briefing.