The Eastern Economic Corridor (EEC) Office has been told that its key performance indicator (KPI) is to attract 100 billion baht in investment applications per year for S-curve industries, says Industry Minister Uttama Savanayana.
Mr Uttama on Wednesday visited the EEC Office and assigned the agency to deliver this KPI each year.
The S-curve industries consist of 11 targeted sectors in advanced technological development: cars; smart electronics; affluent, medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; medical services; and defence.
Mr Uttama said the EEC Office has to increase efficiency and become the leading state agency to attract local and foreign investors to the flagship EEC scheme.
The corridor was initiated in mid-2016, after which the EEC Office was founded. The EEC Act of 2018 was implemented in mid-May.
Mr Uttama said the government has set an ambitious target for the EEC of 300 billion baht in investment applications annually. Of the target, 200 billion baht was assigned to the Board of Investment (BoI) and the remaining applications are the EEC Office's duty.
The BoI's investment applications this year will reach 720 billion baht, surpassing 600 billion in 2017.
The BoI reported that investment applications for 754 projects were approved in the first six months of 2018, up 22% year-on-year, with investment of 284.6 billion baht, equal to last year.
Of the total applications, 316 projects were in the 11 targeted industries, accounting for 46% of total applications worth 224.15 billion baht, or 82% of total investment.
This year's EEC applications for the period covered 142 projects worth 183.23 billion baht, up 122% from the same period last year.
Mr Uttama said the government will run new roadshows in Japan, China, Hong Kong, South Korea and Europe.
The roadshow will go to Shanghai next week to meet Alibaba Group and proceed with cooperative projects.