Many local and foreign companies have expressed intentions to invest in the flagship Eastern Economic Corridor (EEC) scheme, encouraged by related legislation approved in February, and all projects are expected to get started soon, says Industry Minister Uttama Savanayana.
"WHA Corporation Plc and Siam Cement Group, for example, are very keen on their future projects in EEC locations," said Mr Uttama. "Chinese and Japanese investors such as Hirata Corporation have shown ambitious plans to localise robotics and automation manufacturing, because this sector is one of 10 targeted industries."
Mr Uttama forecasts the investment value of the robotics and automation sector will reach 12 billion baht in 2018.
Last year, Thailand imported robotic and automation systems worth 270 billion baht and exported 134 billion.
Malaysia-based AirAsia Group also plans to sign a memorandum of understanding with the government to invest in its maintenance, repair and overhaul hub at U-tapao airport in Chon Buri.
Chinese e-commerce giant Alibaba Group also plans to set up a smart digital hub project in the EEC, expecting to get off the ground in April.
Mr Uttama said the government's electric vehicle scheme is also part of the S-curve policy and many carmakers have already applied for Board of Investment privileges.
Mazda aims to make hybrid electric vehicles and Mercedes-Benz and BMW plan to invest in their plug-in hybrid electric vehicles and car batteries.
The much-touted EEC scheme spans 30,000 rai in the eastern provinces of Chon Buri, Rayong and Chachoengsao.
The corridor's 10 targeted industries are: next-generation cars; smart electronics; affluent, medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; and medical services.
Nonetheless, Chen Namchaisiri, chairman of the Federation of Thai Industries, said the private sector forecasts new investment in the EEC will grow from the second quarter onward after the new EEC bills are clarified.
"The FTI expects the EEC project will bring the country's economy to expand at a faster clip in the long run, from growth of 3-4% a year to 5%," said Mr Chen. "As members of the private sector, we are concerned that the country will soon lose its lead in competitiveness to Vietnam because Thailand has no developments or industrial improvements utilising higher technology."
