Thailand's Eastern Economic Corridor has received more investments from Chinese investors than any other foreign country, the South China Morning Post reported Friday.

The cluster, which spans Chonburi, Rayong, and Chachoengsao provinces in the country's eastern portion, received $8.4 billion of projects from 2019 to 2024, the report said, citing Korthong Thongtham na Ayutthaya, an executive overseeing a division of the cluster.

China's investment comprises 16%, and only Thailand itself has invested more at 37%, the SCMP said. Japan's contribution is third with 12%.

Most of China's investments come from leading EV manufacturer BYD (HKG:1211, SHE:002594) and from a consortium of Chinese and Thai investors, including China Railway Construction Corp. (HKG:1186, SHA:601186) for a high-speed rail line through the corridor, according to the newspaper.

Meanwhile, Zhengzhou Airport Economy Zone also signed a memorandum of understanding to build an aerotropolis around the U-Tapao airport, which serves the three provinces, the SCMP said.

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