BANGKOK (NNT) - In an attempt to attract more investors to Thailandís Eastern Economic Corridor (EEC), the government has launched the EEC One-Stop Service (EEC-OSS) system to speed up the investment application process.

The EEC-OSS is an online system that operates around the clock and acts as a service center for investors seeking approval to do business in the EEC.

The Secretary-General of the EEC Office, Kanit Sangsubhan, said today that the EEC-OSS system was developed with the support of the Department of Public Works and Town and Country Planning, the Department of Industrial Works, the Department of Health, the Department of Business Development, the Department of Lands, the Immigration Bureau and the Office of the Public Sector Development Commission. The new system has improved the service by reducing paperwork and simplifying procedures. The number of required licences and permits has dropped from 60 to 40. The online process has also reduced the application period to 70 days from the previous 150. The operating cost has also decreased.

"Speaking of the cost, the private sector can reduce it too because the online system connects with the database of other government agencies. Take the company registration as an example, they donít have to submit the documents, physically. The system will get the information and they donít have to do much. But this is the first phase that weíre implementing. If you ask for 50%, youíll get 50%. In the future, it should be faster than this."

National News Bureau Of Thailand