IEAT waives land use fees for entrepreneurs

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BANGKOK, 1 July 2014  – The Industrial Estate Authority of Thailand (IEAT) has agreed to waive land use fees in industrial estates for a year, to be effective from 1 July 2014 – 30 June 2015, in the hope to spur investment.

Permanent Secretary for Industry Witoon Simachokdee, in his capacity as chairman of the IEAT, said the main objective of the fee exemption was to help factories in the IEAT’s industrial estates who were affected by the economic problems at present. It was also incentive for entrepreneurs to invest or expand their investment in the industrial estates, the official said.

The IEAT decided to waive the land use fees due to a decrease in requests for land use and permissions to construct buildings in the industrial estates from January to May 2014.

Mr Witoon added that the IEAT expected that a number of new entrepreneurs in the industrial estates would increase by 70% per month this year.