The Eastern Economic Corridor Office (EECO) of Thailand is revising both its investment promotion target for this year and its investment promotion strategy for next year in response to the impact of Covid-19, said office secretary-general Kanit Sangsubhan.

The EECO currently targets annual investment of Bt100 billion in the EEC zone, which covers Rayong, Chonburi and Chachoengsao. However, the outbreak had taken a toll on global investment and no one could tell how long the impact would last, Kanit said.

The office received investment applications for 117 projects worth a total Bt47.580 billion in the first quarter this year. However, the actual number of projects being developed in the first half of the year might be low, given that construction activities have been disrupted during the outbreak.

Investors’ confidence in the EEC was still high, while most existing investments are long term, added Kanit.

The Nation/www.nationthailand.com