Approvals granted to 11 out of 14 proposals for industrial estates, says authority
Some 14 industrial estates have requested approval for setting up new estates or expanding current ones this year, expecting to support factory investment of 480 billion baht, the Industrial Estate Authority of Thailand (IEAT) said on Thursday.
The authority has approved 11 industrial estates while three others were under consideration, the authority’s director, Sumet Tangprasert, said.
He said the Pinthong Industrial Estate 7 in Chonburi’s Sriracha district was the latest industrial complex to receive the authority’s approval on July 17.
The complex would help boost Thailand’s competitiveness in manufacturing by adopting modern technology and innovation, he explained.
He added that it could support investments in the country’s target industries, such as automotive components, electronics, logistics and clean innovation.
Sumet expects Pinthong Industrial Estate 7 will support investment in the Eastern Economic Corridor (EEC), adding that it will receive a good response from investors.
Support foreign investment
Sujint Rianwiriyakit, executive of Pinthong Industrial Park, expects its seven industrial complexes in Chonburi and Rayong provinces to attract investment of 42.36 billion baht and generate employment for 10,560 people.
Meanwhile, assistant to the company’s CEO, Surach Pattanawongyuenyong, said geopolitics had led to investment relocating to the ASEAN region.
He said the company has witnessed an increase in investment from China, Taiwan and South Korea over the past three to four years, thanks to Thailand’s neutral stance in the global society.
He added that Thailand would see an increase in foreign direct investment despite disadvantages in investment privileges.
Surach noted that the company still witnessed investment from Japan, such as in automotive, fuel, electrical and home appliances. He said Japanese investors did not compete against their Chinese counterparts.
“The Pinthong Industrial Estate 7 is currently under the environmental impact assessment process, expecting to begin development and land sales in the middle of 2025,” he said, adding that investors had shown interest in 70% of the industrial complex land.
Further expansion
Surach said Pinthong Industrial Park would request permission to set up more industrial complexes in Chonburi near Laem Chabang Port, which included Pinthong Industrial Estate 8, 9 and 10.
These projects would support new industries. Apart from automotive components, electronics and electrical appliances, there will be chips and data centres, he said.
For clean energy development, Surach said the company would set up a natural gas power plant in Pinthong Industrial Estate 5 in Chonburi with a production capacity of 120 megawatts, expecting to be completed within three years.
The company plans to install solar and floating solar farms as well, he added.
He asked the public sector to tackle a delay in opening spaces for setting up new industrial complexes. “It takes two years for requesting agencies to set up new industrial estates, so it would be better if the process takes only one year,” he said.
Surach confirmed that Pinthong Industrial Park would witness a 15% increase in revenue this year from sales of 850 rai (136 hectares) of industrial estate land.
He said 750 rai (120 hectares) of industrial estate land had been sold. He also expects land in the Pinthong Industrial Estate 7 to be sold within a year.
Regarding Industry Minister Akanat Promphan’s policy to allow small and medium enterprises to access industrial estate area for storing materials, Surach said the company has prepared 15-20 rai (2.4-3.2 hectares) of area for them.
