At least three Japanese firms are expected to invest roughly 3.7 billion baht in industries such as electric vehicles (EVs) and smart electronics in the Eastern Economic Corridor (EEC), says the Industrial Estate Authority of Thailand (IEAT).
The three Nagoya-based companies indicated interest in buying 200 rai of land in the EEC, which covers parts of Chon Buri, Rayong and Chachoengsao.
EVs are among the targeted industries in the EEC.
Other industries the companies were keen to pursue include auto parts, steel and iron, and renewable energy.
"We expect investors from Nagoya to confirm their investments. Some firms aim to invest in industrial estates," said Veeris Ammarapala, governor of the IEAT, ahead of further talks with the three companies on June 28.
He was speaking during a roadshow to promote investment in IEAT-run industrial estates.
The governor led an entourage to meet prospective investors in Nagoya and Osaka from June 25-29.
The authority also organised the Industrial Expo in Japan, with two seminars on investment opportunities in Thailand.
Japanese businesses have played a key role in driving foreign investment in Thailand, especially in the automotive industry, over the past four decades.
In the EEC, there are 1,951 Japanese firms in various industries, including cars, machinery and parts, steel and iron, plastics, rubber and electronic products, according to the IEAT.
Japan's accumulated investment value stands at around 3 trillion baht.
Mr Veeris said Japanese investors are concerned about renewable energy supply in Thai industrial estates as manufacturers who export to the European Union are required to make their manufacturing more eco-friendly, following the EU's introduction of the Carbon Border Adjustment Mechanism (CBAM) that imposes charges on carbon-intensive production.
The transitional phase of CBAM, scheduled to take effect on Oct 1, requires importers of iron and steel, aluminium, cement, fertilisers, electricity and hydrogen to report greenhouse gas emissions embedded in their imports without being subject to financial payments or adjustments, according to the EU.
Importers are scheduled to pay a levy for CBAM certificates from Jan 1, 2026.
"Japanese companies asked the IEAT to ensure renewable energy is ample for factories to avoid the impact of CBAM fees on their business," he said.
The IEAT operates 68 industrial estates and the Map Ta Phut deep-sea port.