Industrial estates agency aims to attract THB3.06 trillion investment
The Industrial Estate Authority of Thailand (IEAT) has set itself the target of securing investment of 3.05 trillion baht in the next three years in industrial estates throughout the country, accounting for at least 27% of gross domestic product.
The ambitious goal is a 4% jump from the current 2.6 trillion baht annually, IEAT board chairman Yuthasak Supasorn said during the first board meeting of the year on Friday (January 19).
He told the meeting that measures to help achieve the goal include establishing more industrial estates that support target industries, offering standardised accreditation to factories, and implementing efficient environmental management in the industrial estates and surrounding communities.
“The IEAT in the next three years will be driven by the strategic mission to revive investment, support entrepreneurs, and build sustainability to strengthen the industrial sector, making it ready for geopolitical challenges, climate changes, and digital transformation,” he said.
Yuthasak added that the authority needed to adjust its image into an “investment enhancer” in a bid to turn Thailand into an investment hub in the region and the world.
“The IEAT would not only support entrepreneurs in the industrial estates, but would also help strengthen the businesses of operators and investors of target industries across Thailand,” he said.
The chairman told the meeting that the new board of directors was committed to reviving investment in Thailand’s industrial sector from the current stagnation, as investment capital in this sector had barely increased in the past 20 years.
“The IEAT must become Thailand’s iconic brand for investment and help promote the country as a ‘land of infinite prosperity and opportunities’,” said Yuthasak.
IEAT Governor Veeris Ammarapala said another target for this year is to upgrade selected industrial estates to “Eco Industrial Town”, highlighting mutual cooperation between entrepreneurs and communities for a sustainable environment.
He said the following industrial estates had won awards this year:
Eco Champion: WHA Eastern Seaboard 4
Eco Excellence: Bangpu and Ratchaburi
Eco World Class: WHA Map Ta Phut and Gate Way City
Currently, the IEAT supervises 68 industrial estates in 16 provinces, with 53 industrial estates being jointly operated with private developers.
