IEAT boasts of 138% revenue gain

IEAT boasts of 138% revenue gain

The Industrial Estate Authority of Thailand (IEAT) saw its revenue during the first nine months of its fiscal 2021 increase by 138% year-on-year to 130 billion baht, thanks to more investment in industrial estates, especially in high technology to improve factory operations.

The revenue from October 2020 to June 2021 increased from 54.7 billion baht in the same period of fiscal 2020.

Veeris Ammarapala, governor of IEAT, said industrial estates located in the Eastern Economic Corridor (EEC) played a key role in driving investment and drawing investors.

"IEAT expects investment value to grow in its last fiscal quarter this year as a result of the state's mass vaccination scheme and the global economic recovery," he said.

However, total land sales for IEAT estates decreased by 49.6% year-on-year to 927 rai, down from 1,839 rai, mainly because foreign investors could not travel to Thailand to sign land purchase contracts, said Mr Veeris.

Land sales in EEC areas stood at 748 rai during the nine months.

Key industries include car manufacturing, which made up 13.8% of total investment value.

Steel and metal production contributed 10.8%, while rubber, plastics and artificial leather manufacturing made up 7.8%.

According to IEAT, China invested the most in industrial estates (15.2%), followed by Japan (12.1%) and Singapore, South Korea and the US (9.09%).

There are 4,944 factories in IEAT's industrial estates, with 815,942 workers.

The trade war between the US and China has caused investors, especially those in China, to relocate their facilities to Asean countries including Thailand, he said.

"Since 2018, investors have relocated 230 projects to Thailand with a value of 120 billion baht," said Mr Veeris.

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