The Eastern Economic Corridor Office (EECO) and HSBC Thailand have joined forces in a strategic partnership to connect global investors to the Eastern Economic Corridor (EEC), aiming to attract THB 500 billion in investment within five years and solidify Thailand’s position as a regional hub for high-value industries.
Bangkok, Thailand – The Eastern Economic Corridor Office of Thailand (EECO) has forged a landmark partnership with global financial institution HSBC Thailand, signing a Memorandum of Understanding (MOU) to collaborate on driving and attracting global investment into the Eastern Economic Corridor (EEC). The ambitious goal is to secure THB 500 billion in investment over the next five years.
The signing, led by Dr. Chula Sukmanop, Secretary-General of the EECO, and Mr. Giorgio Gamba, Chief Executive Officer and Head of Banking, HSBC Thailand, underscores both organizations’ recognition of the EEC’s potential as a key investment magnet and a crucial engine for Thailand’s sustainable economic growth.
Leveraging HSBC’s Global Network to Reach Investors Worldwide
The core strength of this collaboration lies in combining the EECO’s role as the primary agency overseeing and developing the EEC with HSBC’s extensive global network and financial expertise. With a presence in 58 countries and territories, HSBC offers unparalleled access to investors in key economic corridors, including mainland China, Europe, ASEAN, the Middle East, India, Taiwan, and Japan.
Dr. Chula Sukmanop, Secretary-General of the EECO, emphasized the EEC’s importance as a driver of Thailand’s economy, with the primary objective of fostering economic activity through high-value investments that connect with local areas and communities. He highlighted the significant role of foreign investment in the EEC’s development. Partnering with HSBC, a financial institution with extensive expertise and a robust network, will be a major force in attracting global investment and connecting the EEC with leading international corporations, he said.
EEC Roadshows to Target High-Potential Markets
Under the MOU, both organizations will collaborate to identify potential investors, facilitate investment through targeted outreach programs, and leverage HSBC’s international network to unlock new investment opportunities. In 2025, HSBC Thailand will support EECO investment promotion roadshows in key economic corridors, such as mainland China, Singapore, Europe, Taiwan, and Japan.
“At the EECO, we are committed to providing a seamless and efficient business environment, providing comprehensive support at every stage—from initial inquiries on investment benefits to the successful launch of operations,” added Dr. Chula.
HSBC to Provide Comprehensive Financial Solutions
Beyond access to HSBC’s global client base, the partnership also includes support for comprehensive financial solutions for investors, elevating Thailand’s industries to align with global market trends.
Mr. Giorgio Gamba, Chief Executive Officer and Head of Banking, HSBC Thailand, reaffirmed the bank’s commitment to supporting Thailand’s investment ambitions, noting that Thailand is experiencing a resurgence of foreign direct investment (FDI) interests due to its strategic location and well-established manufacturing ecosystem.
EEC: The Main Driver of Thailand’s FDI
In 2024, Thailand saw THB 727 billion in approved FDI, a two-decade high. The EEC remains central to this growth, accounting for 78% of the total FDI value (THB 568 billion), underscoring its role as a key driver of Thailand’s investment strategy.
Key sectors attracting investment in the EEC include smart electronics (THB 256 billion), the digital industry (THB 95 billion), and next-generation automotives (THB 87 billion).
China, India, and the Middle East as Key Target Markets
HSBC has observed continued interest from Chinese companies in expanding into ASEAN, with Thailand being a key investment destination, particularly in electric vehicle production, which has seen approximately THB 275 billion in total investment value from 2018 to Q3 2024. Thailand has also successfully attracted significant interest in data centers, thanks to its stable energy supply and large digital economy.
Beyond China, India, and the Middle East are also important investment corridors for Thailand, underpinned by strong trade flows and investment synergies.
“With our extensive experience in facilitating cross-border investment flows, HSBC will support the EECO in connecting with global investors,” stated Mr. Gamba.
Five Key Target Industry Clusters
The partnership between EECO and HSBC aims to drive growth in five key target industry clusters:
- Next-Generation Automotive: Focusing on electric vehicle (EV) technology and autonomous driving systems.
- Digital Technology: Promoting investment in data centers, cloud computing, and 5G technology.
- Medical and Healthcare: Developing a medical hub and promoting health tourism.
- Bio-Circular-Green (BCG) Industries: Supporting investments in clean energy, the circular economy, and environmentally friendly technologies.
- Advanced agriculture, aerospace, and logistics: Enhancing high value services sector.
A Bright Future: EEC as a Regional Investment Hub
This collaboration is expected not only to attract significant investment to Thailand but also to stimulate high-skill job creation, enhance the country’s international competitiveness, and strengthen Thailand’s long-term economic resilience.
Following the signing ceremony, a business seminar was held to highlight Thailand’s attractiveness as a leading investment destination in Southeast Asia. Over 50 representatives from leading global companies, embassies, and international chambers of commerce attended, demonstrating strong confidence and interest in the potential of the EEC and Thailand.
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