IEAT slashes expenses to lure investors
The Industrial Estate Authority of Thailand (IEAT) is trying to attract more investors to its four industrial estates by waiving or reducing their expenses, as part of efforts to stimulate domestic investments and drive steady growth this year.
"We believe 2022 investments will gradually recover this year," said Veeris Ammarapala, IEAT governor, attributing the recovery to various state stimulus measures.
Local and foreign entrepreneurs who plan to invest in the four estates will see some service fees waived, including the exemption of land rents and infrastructure maintenance fees for 1-3 years, he said.
The four properties comprise the Southern Region Industrial Estate and Songkhla Industrial Estate, both located in the southern province of Songkhla, as well as the Sa Kaeo Industrial Estate in the East and the Phichit Industrial Estate in the lower northern region of Thailand.
"We want to promote investments in these industrial estates because of their potential for further development," said Mr Veeris.
"The IEAT wants to help prospective investors reduce their financial burdens, notably investment costs."
He said the authority also offers special prices for investors who want to buy land in the Southern Region Industrial Estate -- discounts of 15-20%.
The Southern Region Industrial Estate has been in the spotlight since the IEAT announced late last year it would conduct a joint study on a gas and renewable fuel-fired power generation facility in Songkhla to relieve concerns over insufficient electricity among factories in the South.
The study, scheduled to be completed in 2023, focuses on power supply for this industrial estate.
The estate houses 34 factories on 2,261 rai of land.