BANGKOK, Nov 24 Reuters Thailand will offer 10year visas for investors in targeted businesses in its industrial eastern region to attract foreign investment, a deputy prime minister said on Friday.

The visa plan, which starts next year, will facilitate investors as the government seeks to ease restrictions, Phumtham Wechayachai told reporters.

The government is also targeting higher overall actual investment of 500 billion baht 14.23 billion in the Eastern Economic Corridor EEC during 20232027, or 100 billion baht a year, he said.

Actual investment in the EEC is now about 75 billion baht a year, Phumtham said.

Companies investing in modern, environmentally friendly industries can bring in employees, specialists, executives, and professionals, who will get an EEC work permit, a flat income tax rate of 17 and a 10year visa, the government said.

The EEC, which covers three provinces east of the capital, Bangkok, is a centrepiece of government efforts to boost growth and encourage investment, particularly in hightech industries.

Southeast Asia39;s secondlargest economy grew a much lowerthan expected 1.5 in the JulySeptember quarter from a year earlier, the slowest pace this year, on weak exports and government spending.

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Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Robert Birsel

Source Reuters