The growing economy of Thailand is one of the reasons why many investors are coming to the country. Businesses and hotel groups such as Rayong City Hotel are racing to get the best seats in the country in order to take advantage of its tourism boom. Alibaba Group, the leading e-commerce from China, is also launching its smart digital hub this April in Thailand. The hub project will be covered by the EEC or Eastern Economic Corridor.
Alibaba’s top man in the globalization leadership group, Angel Zhao, got into a discussion with Uttama Savanayana, the industry minister, and Somkid Jatusripitak, the deputy prime minister. They talked about Alibaba’s plan to invest in a smart digital hub this coming March and the proposed location is within the EEC. They are expecting to begin the investment this April.
Alibaba is also having a meeting with the industry minister within this month to finalize the details regarding the company’s investment projects in the country. The investment pledge of the e-commerce giant was a result of the cooperation pact made by Jack Ma, the founder as well as chief executive officer, with the government of Thailand several years back.
The reason why the EEC was chosen is because of the intention of the government of Thailand to boost the confidence of the foreign investors in sectors that are under the EEC.
The EEC covers a land area of 30,000 rai which includes the eastern provinces of the country namely, Chachoengsao, Chon Buri and Rayong. The corridor is aiming to get in touch with major industries such as smart electronics, agriculture, biotechnology, next generation automobiles, bofuels, biochemicals, medical, wellness and affluent tourism, medical services, food and digital services.
Mr. Somkid added that the smart digital hub to be constructed in the Thailand will not only benefit the country but it will serve as a regional hub for other countries including Vietnam, Cambodia, Myanmar and Laos.
In this note, Alibaba has already bought a piece of land spanning 300 rai where the smart digital hub is expected to rise. This is a positive message for businesses and hotel investors like Rayong City Hotel that the EEC is on its way to further development.