State feels existing EEC target can be met

The rapid spread of Omicron infections and the escalating Russia-Ukraine conflict are expected to affect the country’s investment prospects this year, but the government remains optimistic that investment in its flagship Eastern Economic Corridor (EEC) can reach 2.2 trillion baht over the next five years as projected.

According to a report by the EEC Office, scheduled for submission to the EEC Policy Committee meeting chaired by Prime Minister Prayut Chan-o-cha on Wednesday, the country’s investment prospects in 2022 are tepid because of Omicron infections and the war in Ukraine.

The Russia-Ukraine crisis is expected to last a long time and will definitely affect the capital market, resulting in soaring energy prices and higher inflation, eventually deterring the pace of economic recovery globally and in Thailand, according to the report.

Yet Kanit Sangsubhan,…