IEAT eyes expansion of industrial estate zones to lure investors from China, Taiwan
The Industrial Estate Authority of Thailand (IEAT) is gearing up to expand its industrial estate zones to welcome investments from China and Taiwan in the electric vehicle (EV) and smart electronics sectors.
This move aligns with the growing trend of foreign direct investments, especially in the Eastern Economic Corridor (EEC) area, driven by Thailand’s gradual economic recovery and global shift in investment relocation.
IEAT governor Veeris Ammarapala said he expects continued investment momentum over the next two years. He added that this promising outlook has spurred negotiations with Chinese EV manufacturers and Taiwanese electronic components and smart systems companies.
These potential investors are eyeing industrial estates spanning up to 160 hectares within the EEC to establish manufacturing facilities and robust supply chains, he added.
IEAT and industrial estate developers are expected to scout for suitable areas for expansion, including smart cities and port zones next year. Developing these areas to accommodate a surge in investments, particularly in the EEC region, should take four to five years, the governor said.
Furthermore, these ambitious plans include the creation of a special economic zone in the South, a region currently under extensive study for the Land Bridge project – an anticipated substantial investment for Thailand.
Veeris said IEAT remains committed to supporting the new government’s objectives, focusing on comprehensive and swift economic elevation across all regions while championing carbon neutrality in the industrial sector.
