IEAT eyes redesigning industrial estates to cater to SMEs

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BANGKOK – The Industrial Estate Authority of Thailand (IEAT) is ready to adjust its industrial estate development plans to better accommodate small and medium-sized entrepreneurs.

While delivering his policy address to executives of the IEAT, Minister of Industry Uttama Savanayana suggested that more focus be placed on industrial development in each community in keeping with the national strategy. As a way of raising the potential of SMEs, the minister instructed the IEAT to shift its development plans for industrial estates towards the cluster format in order to attract more SME operators. The authority will draw conclusions on the plans within two months.

During the first nine months of the 2017 fiscal year, the IEAT reported that property sales and rentals within industrial estates have expanded to 2,160 rai in total, most of which are located in the Eastern Economic Corridor. Investment capital has increased to over 102 billion baht from 67 billion baht last year. Most of the capital belongs to the automobile and parts and electronics industries.