Thailand to expand investment areas

BANGKOK, March 5 (TNA) - Thailand will expand investment areas this year, as part of national preparations for the formation of the ASEAN Economic Community (AEC) by the end of this year, with the Industrial Estate Authority of Thailand (IEAT) planning to sell and lease about 4,000 rais of its overall plots of land nationwide for the purpose in 2015, focused on supporting new border economic zones. IEAT Governor Verapong Chaiperm told journalists of the policy on Thursday, noting that Thai and foreign investors are now keen to invest in Thailand, thanks to the government's plan on developing new border economic zones at five locations. Verapong said that most of the investors are from Japan, China, Singapore, Australia, European countries and the United States, who are mostly interested in investing in local auto part, machinery, electrical appliance, electronic part, food and beverage industries. According to the IEAT chief, the anticipated 4,000 rais of land to be sold and leased out are part of IEAT's remaining 14,333-rai plots of land. The IEAT governor pointed out that Thailand has investment potential due to the border economic zone policy and the AEC formation by the end of 2015, after which an influx of investment funds is foreseen. In the 2014 fiscal year, (from October 2013 to September 2014), the IEAT chief reported, his agency sold and leased 3,541 rais of land and during the first four months of the 2015 fiscal year, (from October 2014 to January 2015), IEAT sold and leased 730 rais. Besides, in the early stage of the 2015 fiscal year, IEAT signed agreements to develop three joint-venture industrial estates with estimated investment funds totally worth 185.18 billion baht and employment of 42,060 people, including the Chiang Kong Industrial Estate in Chiang Rai Province in the Thai North, the Hemaraj Eastern Seaboard Industrial Estate (Project 4) in Rayong Province in the Thai East and the Nong Khai Industrial Estate in Nong Khai Province in the Thai Northeast. (TNA)