The Industrial Estate Authority of Thailand (IEAT) has just announced its intention to partner with South Korean companies in order to explore the possibility of establishing a new high-tech industrial estate. The new facilities would be designed to specifically cater to the needs of South Korean investors in the Eastern Economic Corridor (EEC), a special economic zone in Thailand.
IEAT governor highlighted that South Korea wants the new industrial estate to be modeled as the Thai-Chinese Rayong Industrial Zone, which is a modern industrial zone developed by Chinese player Holley Group and Amata Group of Thailand. The objective is to develop and upgrade industrial estates in Thailand to become high-tech industrial estates. Notably, Taiwanese players have also recently expressed interest in developing a high-tech industrial estate in Thailand to cater to Taiwanese investors.
In effect, several companies are relocating their investment from China to other countries, as they are concerned about political conflicts.
IEAT handles 66 industrial estates in 16 provinces across Thailand. Of these, 14 are operated by IEAT itself, while 46 are operated via joint ventures.
(Sources: The Bangkok Post; Thailandtv.tv)