13 Oct 2016
THAILAND: Extended Land Leases Confirmed for Coastal Economic Development Zone
Investors will be entitled to apply for 50-year land leases - with the option of a 49-year extension - for sites that fall within the Eastern Economic Corridor (EEC).
This proposed economic corridor will straddle the three coastal Thai provinces of Chachoengsao, Chonburi and Rayong, and is expected to boost connectivity by linking the region with Myanmar’s on-going Dawei deep-sea port project, Cambodia’s Sihanoukville and Vietnam’s Vung Tau ports.
With Thai Baht 300 million (US$8.5 million) of state funds already earmarked for the development of the EEC, it is envisaged the zone will be home to 10 high-tech industry clusters. Although the preferential tax and financial incentives open to EEC investors have yet to be confirmed, some proposed incentives were mooted back in July 2016.
For further details, see THAILAND: Raft of Incentives Expected for Coastal Province Investors.