Thailand’s east coast to support growth

Taking a hit: The deserted tourist belt of Khaosan Road in Bangkok. Thailand’s economy shrank 6.1% last year, its worst showing since the Asian financial crisis, as the pandemic slammed key drivers like tourism and exports. — Bloomberg

BANGKOK: Thailand’s Eastern Economic Corridor aims to boost the nation’s gross domestic product by as much as 2 percentage points a year through infrastructure projects and foreign investment in advanced industries, from 5G technology to electric vehicles.

While the pandemic has disrupted some foreign investment in the industrial hub near Bangkok, the corridor’s 625 billion baht (US$20bil or RM82.19bil) in infrastructure projects – including an airport, seaport and high-speed rail – have supported growth during the pandemic, according to Kanit Sangsubhan, secretary-general of the Eastern Economic Corridor Office.