Industrial estates in Thailand surge 182% due to foreign manufacturing influx

[webfact]

 

Industrial land sales in Thailand, managed by the Industrial Estate Authority of Thailand (IEAT), witnessed a dramatic rise of 182% year on year in fiscal this year, totalling 5,693 rai. This substantial increase was due to the migration of foreign manufacturing plants to Thailand and the country’s government’s investment incentives.

 

The sales figures surpassed the previously projected target of 2,500 rai, set for the period spanning from October 1 last year to September 30 this year.

 

Veeris Ammarapala, the governor of the IEAT, explained that the surge in sales was not only due to the relocation of factories but also due to increased investment in the Eastern Economic Corridor (EEC) and the implementation of a long-term resident visa policy. This policy allows foreigners a ten-year stay, thus attracting foreign investors.

“Land sales in the EEC amounted to 4,724.8 rai while the remaining 967.7 rai was outside the EEC,” he disclosed.

 

by Alex Morgan

Photo: giovaninelmondo.org

 

Full story: The Thaiger 2023-10-06

 

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[jacko45k]

So the increase is based on a year ago when in reality the world was stumbling to post Covid recovery? I just know on the Thai side here, I got complaints that there was less overtime about, and production was moving to Vietnam.

[retarius]

5000 odd rai? The size of a modest village? Yes surging vs a low base. Tell me when the surge actually has factories on it, exporting.

[fondue zoo]

 

The media spin is taking on a different flavour with the new sheriff in town.

 

[realfunster]

So an 186% increase from 1/10/22-30/9/23 compared to 1/10/21-30/9/22.

Thailand's obviously an attractive investment destination.

 

Oh hang on, wasn't there was some sort of minor global incident in that 21-22 period ?....

I wonder if that might have artificially deflated the investment figures for that year, making any comparison pretty much worthless ?

[connda]

I have a great idea.  Let's tax all foreign funds inflows to Thailand! 

[topt]

Whatever the relative increase is the headline "profit" vs revenue seems very high to me

Quote

In fiscal this year, the IEAT reported a revenue of 8.5 billion baht and a profit of 3.7 billion baht.

And the year hasn't even finished yet - depending on this company's fiscal.........

I am guessing also this is gross profit before taking off a myriad of other items.......... 

[ukrules]

I'd like to see the 2019 and 2018 figures as well - just for comparison.......????

[kwilco]

I'd suggest this is a matter for concern for any expats living in Rayong or parts of Chonburi. Road building and industrial infrastructure and the resulting pollution are going to increase dramatically over the next few years

[Tailwagsdog]

900 hectares ???? ...ZZZ zzz zzz zzz