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Economics

IEAT targets top 3 in Asean rankings

5/04/2012
Nanchanok Wongsamuth

The Industrial Estate Authority of Thailand (IEAT) aims to become one of the top three industrial estate developers in Asean within the next four years, says newly appointed IEAT governor Verapong Chaiperm.

He expects more industrial investment to flow into the region during that period.

A survey by the Foreign Direct Investment magazine of the Financial Times ranked Industrial Estates of Thailand the 12th-best economic zone in the world. The ranking is based on eight factors, including best transportation, facilities, cost effectiveness and incentives.

The top developer was the Shanghai Waigaiqiao Free Trade Zone in China, followed by Dubai Airport Freezone in the UAE and San Luis Potosi in Mexico. 

Vietnam is a strong competitor with 150 industrial estates compared with 100 in Thailand, while Malaysia, Dawei in Myanmar, the Philippines and Vietnam are also rivals, said Mr Verapong.

The IEAT expects land sales this year to reach 3,000 rai. Land sales during the first five months of the 2012 fiscal year (October 2011 to February 2012) totalled over 1,700 rai, a 40.84% increase from the same period of last year. Some 27.43 rai are under the IEAT while the rest are joint developments with the private sector.

The 48 industrial estates in 15 provinces under the IEAT have 15,581 rai of land under development worth 2.44 billion baht, generating 503,993 jobs. The authority owns 149,619 rai with 82,996 rai of saleable land.

IEAT is in the process of approving four joint industrial estates with the private sector totalling 6,260 rai, including Lanna in Lamphun, CP in Rayong, Hemaraj Chon Buri in Chon Buri and Chaiyo Industrial Park in Chon Buri.

It also has plans to develop an estate in Chiang Rai's Chiang Khong district to support the connection of the R3A route (Thailand-Laos-Southern China) and the bridge crossing the Mekong River. The estate is expected to be finished next year.

Yet another plan is to develop the Phu Namron checkpoint estate in Kanchanaburi province. IEAT is conducting a feasibility study and area survey of around 500 rai in order to become a logistics estate to help transport products to and from Dawei. It is expected to start development next year to start operations in 2015.

IEAT is also investing around 110 million baht next year to study the development of areas in the northeast and eastern regions.

"We are also looking to join with foreign investor partners [to develop these estates]," said Mr Verapong.

(Source: Bangkok Post, Economics, IEAT targets top 3 in Asean rankings, 5/04/2012, Nanchanok Wongsamuth, link)

Industrial Estate Vocabulary

Financial Times -  one of the top daily international business newspapers in the world (See Wikipedia)

A survey by the Foreign Direct Investment magazine of the Financial Times ranked Industrial Estates of Thailand the 12th-best economic zone in the world.

industrial estate - a special area for factories with the things that they need such as special electricity, water supply, transportation (port, train, facilities for shipping by truck) (See Wikipedia)

Industrial Estate Authority of Thailand (IEAT) - the government agency in charge of industrial estates in Thailand
the top three industrial estate developers

survey - gathering information about what people think about different subjects (public opionion) by asking large numbers of people questions and counting their answers, and then using statistics, graphs, and tables to present results (See Wikipedia) การสำรวจความเห็น
economic zone - an area devoted to adding value to the economy (example: a special manufcturing area)

targets - goals or levels you plan to achieve
rankings - a list with the best first and the worst last
Asean rankings
top 3 in Asean rankings
targets top 3 in Asean rankings - want to be among the top three
IEAT targets top 3 in Asean rankings

progress - 1. how a series of events is developing พัฒนาการ . the process of gradually improving something; advance, go forward ก้าวหน้า
in progress - when something is happening now (has begun, but not yet finished)
construction - building a building
construction in progress - building the building now (not finished yet)
heading - going
where they are heading - where they are going

appointed - when a person is put in some high official position to work there 
newly appointed IEAT governor Verapong Chaiperm

investment - taking your money and putting it into projects to make a profit or earn interest (buying stock shares, bonds, real estate)
industrial investment - investment by companies in factories and production (often for exports)
expects more industrial investment to flow into the region

The Industrial Estate Authority of Thailand (IEAT) aims to become one of the top three industrial estate developers in Asean within the next four years, says newly appointed IEAT governor Verapong Chaiperm. He expects more industrial investment to flow into the region during that period.

factors - the different things that affect the outcome of a situation, event, or decision ปัจจัย
transportation - moving things or people from one place to another (via bus or truck, for example)  การขนส่ง

facilities - the buildings and equipment for an activity สถานที่และสิ่งอำนวยความสะดวก สิ่งอำนวยความสะดวก
incentives - rewards for behaving in a certain manner สิ่งกระตุ้น รางวัล ผลตอบแทน

effectiveness - working well and producing the results intended
cost effectiveness - has low cost so it is effective (good at getting the job under cost)

A survey by the Foreign Direct Investment magazine of the Financial Times ranked Industrial Estates of Thailand the 12th-best economic zone in the world. The ranking is based on eight factors, including best transportation, facilities, cost effectiveness and incentives. The top developer was the Shanghai Waigaiqiao Free Trade Zone in China, followed by Dubai Airport Freezone in the UAE and San Luis Potosi in Mexico. 

competitor - a person, team or company that is competing against others ผู้แข่งขัน, คู่แข่ง
rivals - people you are competing with to achieve something that not everyone can have (like getting elected) คู่แข่ง คู่อริ

Vietnam is a strong competitor with 150 industrial estates compared with 100 in Thailand, while Malaysia, Dawei in Myanmar, the Philippines and Vietnam are also rivals, said Mr Verapong.

real estate development - improvements to land and real estate (example: industrial estates) (See Wikipedia)
development - Same as "real estate development"

joint - belonging to or shared between two or more people ร่วม, ที่ร่วมกัน
joint developments - real estate developments with two organizations working together (here government and companies)
joint industrial estates

fiscal - related to government spending; connected with the government budget, i.e., public money เกี่ยวกับงบประมาณ
fiscal year - the period of time and calendar that government budgets and performance reporting use

sector - a part of the economy ภาคเศรษฐกิจของประเทศ (public sector = government, private sector = all businesses, household sector = families and consumers, banking sector,...) (See Wikipedia)
private sector - all the businesses in an economy

The IEAT expects land sales this year to reach 3,000 rai. Land sales during the first five months of the 2012 fiscal year (October 2011 to February 2012) totalled over 1,700 rai, a 40.84% increase from the same period of last year. Some 27.43 rai are under the IEAT while the rest are joint developments with the private sector.

land under development - land being built on (building a shopping mall, office building, housing estate, condo, apartment building, etc)
authority - the power to make decisions or tell people what to do อำนาจ, อำนาจในการสั่งการ
authority - Same as "Industrial Estate Authority of Thailand (IEAT)"

The 48 industrial estates in 15 provinces under the IEAT have 15,581 rai of land under development worth 2.44 billion baht, generating 503,993 jobs. The authority owns 149,619 rai with 82,996 rai of saleable land.

process - a series of actions that you take in order to achieve a result แนวทางปฏิบัติ, กระบวน, วิธีการ
in the process of - doing it now; currently happening right now (not finished yet)
in the process of approving



IEAT is in the process of approving four joint industrial estates with the private sector totalling 6,260 rai, including Lanna in Lamphun, CP in Rayong, Hemaraj Chon Buri in Chon Buri and Chaiyo Industrial Park in Chon Buri.
 
R3A route
support - help สนับสนุน
connection - the joining of two places together (so you can go from one place to the other)
the connection of the R3A route
route - the way that planes, buses, trains, or ships travel regularly เส้นทางของรถ เรือ เครื่องบิน,etc.
expected - believe will happen คาดว่า (จะเกิดขึ้น)
expected to be finished next year.

It also has plans to develop an estate in Chiang Rai's Chiang Khong district to support the connection of the R3A route (Thailand-Laos-Southern China) and the bridge crossing the Mekong River. The estate is expected to be finished next year.

land survey - the activity of measuring pieces land and locating points on a map, determining land boundaries (See Wikipedia)
area survey of around 500 rai
checkpoint - a place where people are stopped and questioned and vehicles are examined, especially at a border between two countries ด่านตรวจ
feasible (adjective) - possible
feasibility (noun)
feasibility study - looking closely at some project and decide if it is possible to finish successfully
conduct a feasibility study - do or "carry out" a feasibility study
logistics - the activity of transporting, storing, and tracking goods (being sent from one place to another) (See Wikipedia) การขนส่งสินค้า
logistics estate
transport - to move people or things from one place to another ขนส่ง
investor - a person or organisation that puts money into a company in exchange for a future profit นักลงทุน
partners - the companies owning part of the joint venture หุ้นส่วน
investor partners - other people or organizations that you make an investment with

Yet another plan is to develop the Phu Namron checkpoint estate in Kanchanaburi province. IEAT is conducting a feasibility study and area survey of around 500 rai in order to become a logistics estate to help transport products to and from Dawei. It is expected to start development next year to start operations in 2015. IEAT is also investing around 110 million baht next year to study the development of areas in the northeast and eastern regions. "We are also looking to join with foreign investor partners [to develop these estates]," said Mr Verapong.

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