Central–Western Economic Corridor

Central–Western Economic Corridor
Special Economic Zone
CountryThailand
RegionCentral, Western Thailand
Provinces
4 provinces
Government
 • TypeSpecial economic zone
Area
 • Total
27,009 km2 (10,428 sq mi)
Population
 (2021)[1]
 • Total
3,378,685
Time zoneUTC+7 (ICT)

The Central–Western Economic Corridor (Abrv: CWEC; Thai: ระเบียงเศรษฐกิจพิเศษภาคกลาง-ตะวันตก) is a special economic zone in Thailand that aims to promote economic development in the central and western regions of the country. It comprises four provinces: Phra Nakhon Si Ayutthaya, Nakhon Pathom, Suphanburi, and Kanchanaburi. The corridor is focused on developing the agro-tourism industry, high-value hi-tech industry, as well as green and heritage tourism. [2][3] The CWEC is strategically designed to connect both to Bangkok and the Eastern Economic Corridor (EEC), as well as to the Dawei port in Myanmar,[4][5][6][7] making it an important hub for transportation and trade.

History

The National Committee for the Development of Special Economic Zones (SEZ) approved the Central-Western Economic Corridor (CWEC) as a special economic zone in May 2022, along with three other corridors. The CWEC covers the provinces of Phra Nakhon Si Ayutthaya, Nakhon Pathom, Suphanburi, and Kanchanaburi, and is designed to serve as a manufacturing base for agriculture, tourism, and high technology.[2][8] On September 20, 2022, the cabinet acknowledged and approved the committee's proposals, which authorized the Finance Ministry's permanent secretary to chair a subcommittee to establish non-tax and tax investment incentives, one-stop services, infrastructure, and facilities to attract investors.[9]

Economic

The region is known for its diverse agricultural production, including rice, sugar cane, cassava, and livestock, and is also a hub for orchids exports. The extensive irrigation system in the region allows for the production of advanced processed agricultural products and bio-products, which creates opportunities for processing Myanmar's resources. The CWEC is also a production base for the automotive parts and electronics industries, which are connected to the Eastern Economic Corridor (EEC) area. The corridor also has a thriving tourism industry that offers visitors the chance to explore world heritage sites, natural attractions, and engage in various forms of adventure tourism.[10][11]

See also

References

  1. ^ "Demography Population and Housing Branch". National Statistical Office (NSO). Retrieved February 20, 2023.
  2. ^ a b "Thai Govt Approves Establishment of Four SEZs", National News Bureau Of Thailand, May 6, 2022
  3. ^ Thailand's Economic Corridors Development, Office of the National Economic and Social Development Council (NESDC), January 2023
  4. ^ Thailand Developing Four New Economic Corridors and Related Incentives, May 2022
  5. ^ Chatrudee Theparat (May 6, 2022). "New regional zones approved by panel". Bangkok Post.
  6. ^ "State preps perks for new economic corridors". Bangkok Post. May 17, 2022.
  7. ^ Chatrudee Theparat (May 26, 2022), "New corridors poised to draw B313bn by 2032", Bangkok Post
  8. ^ "New regional zones approved by panel". Bangkokpost. May 6, 2022.
  9. ^ "Cabinet Meeting Synopsis - Sep 20, 2022". ryt9. September 20, 2022. Retrieved March 8, 2023.
  10. ^ "เขตเศรษฐกิจพิเศษ CWEC ฐานอุตสาหกรรมไฮเทคใหม่ของไทย EEC Focus 18-02-66" (VDO) (in Thai). TNN Online. February 18, 2023.
  11. ^ Praornpit Katchwattana (March 14, 2023), "รับรู้ศักยภาพ ระบียงเศรษฐกิจพิเศษภาคกลาง-ตะวันตก CWEC ฐานอุตสาหกรรมไฮเทคใหม่ของไทย", Salika (in Thai)