PUBLISHED : 2 Oct 2024 at 07:32
The Industrial Estate Authority of Thailand (IEAT) announced plans for a new industrial estate tailored for small and medium-sized enterprises (SMEs) within the Eastern Economic Corridor (EEC).
According to Sumet Thangprasert, acting governor of the IEAT, part of an IEAT-owned industrial estate in the EEC will be utilized for this new industrial complex.
The EEC encompasses parts of Chon Buri, Rayong, and Chachoengsao and aims to establish Thailand’s high-tech industrial hub, featuring 12 targeted industries such as new-generation vehicles and smart electronics.
In discussions with various industrial estate developers, the government is considering relying on IEAT to spearhead the project, focusing on supporting SMEs.
This initiative is part of a broader effort by Industry Minister Akanat Promphan to enhance financial and technical support for SMEs.
Akanat has emphasized discussions with IEAT regarding the establishment of this dedicated SME industrial estate, which is anticipated to reduce the high land acquisition costs typically associated with factory construction.
The government is committed to ensuring that SMEs are not burdened with prohibitive costs when utilizing facilities in the estate.
“The IEAT aims to align industrial estate developers and SMEs on affordable facility usage expenses through build-to-suit leases,” Sumet stated.
With a robust industrial estate network spanning 68 locations across 16 provinces, the IEAT has attracted over 17 trillion baht in investments and created nearly 1 million jobs.
The authority plans to collaborate with the Small and Medium Enterprise Development Bank of Thailand (SME D Bank) and the Industry Ministry to facilitate investments in the new SME industrial estate.
“Our goal is to provide SMEs, a crucial driver of the economy, with improved access to financial resources,” asserted Sumet.
Pichit Mitrawong, managing director of SME D Bank, highlighted that over 3 million SMEs are currently registered with the government, indicating significant potential for growth.
“This development represents an excellent opportunity for SMEs to scale their operations within the new industrial estate while fostering eco-friendly manufacturing and digital technology,” Pichit added.
