Industrial estates in Thailand’s Eastern Economic Corridor play a key role in drawing foreign investors
The Industrial Estate Authority of Thailand (IEAT) has revealed that its revenue, during the first nine months of fiscal 2021, increased by 138% year-on-year to 130 billion baht due to more investment in industrial estates, especially in technology to improve factory operations.
IEAT Governor Veeris Ammarapala said industrial estates located in the Eastern Economic Corridor (EEC) played a key role in driving investment and drawing investors.
He said the IEAT expects investment to grow in the last fiscal quarter of this year as a result of the state’s mass vaccination program and the global economic recovery. However, total land sales in IEAT estates decreased by 49.6% year-on-year to 148.32 hectares, down from 294.24 hectares, mainly because foreign investors cannot not travel to Thailand to sign land purchase contracts.
According to the IEAT, China invested the most in industrial estates (15.2%), followed by Japan (12.1%) and Singapore, South Korea and the US (9.09%). There are 4,944 factories in IEAT’s industrial estates, employing 815,942 workers. (NNT)