First industrial estate planned for northeast Thailand
Investors will soon have a new strategic location for manufacturing and exporting from Thailand as a Thai company has begun building the first industrial estate in Isan, the populous northeastern region of the Kingdom.
An industrial estate in Isan would benefit exporters and help expedite development in the area. The new estate will connect to the Kingdom’s airports and coastal deep-sea ports by road and rail. It will also put manufacturers closer to markets in Thailand’s neighboring countries.
The developers said that Udon Thani Industrial City, in the province of the same name, is already drawing strong interest from Japanese and Chinese investors. Managing Director Phisit Piputvilaikul said that several of those investors were looking to relocate their operations.
“The first phase development is 50 percent complete,” Phisit said. That includes the construction of logistics facilities, a water supply system and roads. “The land should be ready for investors in 2021.”
The company is developing the 858-acre estate at the cost of roughly $640 million.
Thailand achieved its economic success by facilitating manufacturing for export. The Industrial Estate Authority of Thailand (IEAT) and the Board of Investment (BOI) have played significant roles in drawing multinational corporations to establish their businesses in the Kingdom.
The IEAT has signed a joint-venture agreement with Udon Thani Industrial City to partner in the new facility. The Authority operates 61 industrial estates in 17 provinces around the country. Most are in central Thailand or the Eastern Economic Corridor (EEC), the showcase zone for advanced industries.
Photo courtesy of https://www.udonindustrial.com/home-2-2-2-2-2/