Somchint: Estates helped by EEC

The Industrial Estate Authority of Thailand (IEAT) is confident it can achieve its 2019 land sales goal of 3,500 rai after it sold 720.75 rai worth 5.56 billion baht in the first quarter of fiscal 2019, ending in December.

Of the total land sales, 664.06 rai worth 2.84 billion baht were both sales and rental plots in the government's Eastern Economic Corridor (EEC) scheme, while the remainder of 56.69 rai worth 2.72 billion was outside the EEC.

"Many megaprojects in the three EEC provinces of Chachoengsao, Chon Buri and Rayong are increasing investor confidence, and other new investment projects are planned," said governor Somchint Pilouk.

"All five EEC megaprojects are very attractive to investors looking to buy or rent plots along these initiatives."

The five projects are: the U-tapao aviation city (worth 290 billion baht); a maintenance, repair and overhaul centre (10.6 billion); a high-speed railway linking three airports (225 billion); the third phase of Laem Chabang port (114 billion baht); and the third phase of the Map Ta Phut port (55.4 billion baht).

The government expects to attract investment worth 1.7 trillion baht ($49 billion) for the scheme over five years (2017-21).

"Many industrial estates are benefiting from the EEC such as Amata City Rayong, Amata City Chon Buri, three WHA Eastern Seaboard estates in Rayong and Chon Buri, and Pinthong Industrial Park in Chon Buri," said Ms Somchint.

Automotive, electronics and steel are the three top sectors bringing investment flows into the EEC.

In fiscal 2018, ending in September, IEAT posted land sales of 1,377 rai, well below its target of 3,500 rai, because global and domestic investment sentiment were cloudy.

IEAT is the state-run operator of 54 industrial estates in 16 provinces nationwide, spanning 165,400 rai. Of those, 13 locations are under IEAT operation and 41 industrial estates have been granted licences for cooperation with private companies.

IEAT has 20,352 rai worth of plots for sale and rent. For the EEC, the government has prepared plots of 137,723 rai in 35 industrial estates, with 10,840 rai ready for sale.

The authority expects new investment of 1.31 trillion baht in the three EEC provinces during 2017-21.