I-EA-T Cooperates with Japan in Promoting Investment and Is Ready to Invite Japanese Investors for Site Visits to Show the Potential of EEC and SEZs this August.

General Press Releases Wednesday July 18, 2018 10:26

Industrial Estate Authority of Thailand (I-EA-T) has cooperated with JILC by singing the Memorandum of Understanding in promoting investment for Thai and Japanese entrepreneurs as well as encouraging investors from the 2 countries to do cross-border investments. The significant cooperation includes promotion of investments in the industrial estate by exchanging investment information between Thailand and Japan. The investments in the Eastern Economic Corridor (EEC) and economic development areas along the border are expected to increase. In this upcoming August, Japanese investors are expected to visit the sites and be invited for investments.

Dr. Uttama Savanayana Minister of Industry, stated that according to the goals of investment promotion and expansion of the Thai market to the global production standard set by the Thai government, I-EA-T has cooperated with Japan Industrial Location Center (JILC) in promoting investments under the Ministry of Economy, Trade and Industry of Japan (METI) by signing the Memorandum of Understanding in Tokyo, Japan to promote cooperation in terms of trade, investment, exchange of investment promotion and marketing information according to the demand of Japanese investors who will invest in the EEC and the special economic zone (SEZs) along the border with the incentives. I-EA-T and JILC will also facilitate investors and their operations to open doors for trade and investment between the two countries.

Dr. Uttama further stated that the significant cooperation between Thailand and Japan includes:
  • Exchange of information of entrepreneurs who would like to invest in Thailand and Japan including incentives derived from investment promotion and sales promotion measures for the investment in the industrial estate
  • Investment promotion in the industrial estate or the areas designated to facilitate the investment of the 2 countries
  • Connection of the economy policy and Thailand 4.0 policy between Thailand and Japan to upgrade relevant industries, especially S-Curve industrial group in terms of production chain, service, database, knowledge, etc which will be more connected
  • Investment promotion in the target industrial estates, especially 27 industrial estates in the Eastern Economic Corridor (EEC) and 3 industrial estates in the Special Economic Zones (SEZs) so that trade and investment can be expanded to neighboring countries such as Cambodia, Malaysia, etc.

However, Japanese investors are foreign investors with the highest investment in the industrial estates and are the important target group in the Eastern Economic Corridor (EEC) in Thailand, especially the Map Ta Phut Industrial Port Phase 3 and the establishment of Smart Park Industrial Estate. They are also potential investors in terms of technological developments: automobile, electrical and electronic appliances, etc. In addition, the Japanese government has implemented the policy to promote SMEs to expand their business overseas according to the policy of the Thai government that would like to invite investments to Thailand. After the signing of the Memorandum of Understanding, both countries will jointly invite Japanese investors and SMEs entrepreneurs to visit the sites in the Eastern Economic Corridor (EEC) and the Special Economic Zones (SEZs) in August to provide information for making the decision to invest in the industrial estates. It is also the beginning of the international market share.

Furthermore, I-EA-T has prepared the industrial areas, which are 9,557.7 acre, to be sufficient for the investors' demand in the ECC and SEZs to facilitate incoming investors. In addition, I-EA-T has provided support in terms of environment in the target industrial groups and public utilities for industrial plants in a systematic manners, according to Dr. Uttama's statement.

For more information, please contact the Public Relations Division, Industrial Estate Authority of Thailand located on Nikom Makkasan Road, Bangkok, Tel: 02 2530561 or email investment.1@ieat.mail.go.th.

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