Transfer of foreign technology to Thailand a key facet of EEC: top official

The transfer of technology is at the heart of Eastern Economic Corridor and it is crucial to allow foreign investors some privileges to move the country’s economy forward, the head of the development group says. There has been concern that extended land-leases and other privileges for foreign investors may push Thailand into quasi-colonial status. EEC committee secretary-general Kanit Sangsubhan said privileges for foreign investors were important to draw investment here, saying they would not only boost the economy but also help increase the transfer of technology. “There is no need to be concerned about the privileges that the government will provide to foreign investors in the EEC, because most of these privileges, such as a 50-year land lease plus a 49- year extension, or allowing foreigners to occupy land in Thailand, have already been included in existing laws such as the Land Leasing for Commerce and Industry Act,” Kanit said.

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