Thailand to boost economic growth by 2.2 trillion baht

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Thailand to boost economic growth by 2.2 trillion baht

BANGKOK Thailand wants to boost long-term economic growth by 2.2 trillion baht $61.97 billion of investment over the next five years, a government official said on Monday.

The plan for 2023 -- 2027 in the Eastern Economic Corridor EEC will include investments such as electric vehicles and medical technology, government spokesman Thanakorn Wangboonkongchana said in a statement.

The economy will grow by 5 per cent a year from 2024, according to the government's projections of 400 billion baht to 500 billion baht, $11.27 billion and $14.08 billion in investment per year.

The investment in the EEC has reached 1.8 trillion baht under the current plan for 2018 -- 2022, surpassing a target of 1.7 trillion baht, he said.

The EEC covers three provinces east of the capital Bangkok, and is a centerpiece of government efforts to boost growth and encourage investment, particularly in high-tech industries.

Southeast Asia's second-largest economy is expected to grow 2.7 per cent to 3.2 per cent this year, the state planning agency forecast on Monday.