Chonburi —
Thailand and South Korea are in talks for a potential 6 billion baht investment in a new industrial estate located in Chonburi province, announced Narumon Pinyosinwat, Thai Trade Representative.
The discussions involve the Industrial Estate Authority of Thailand (IEAT) and the Korea Land & Housing Corporation (LH). According to Mrs. Narumon, Thailand and South Korea signed a memorandum of understanding in March of 2023 to establish an industrial estate within Thailand’s Eastern Economic Corridor (EEC) area.
Chonburi was chosen as the province to house the new estate due to its proximity to Korean supply chains. LH representatives will visit the site by the end of this month, with further visits from interested investors planned for April.
The Thai government, under Prime Minister Srettha Thavisin, is backing the project through the Economic Innovation Partnership Program (EIPP). This initiative would see collaboration between IEAT, LH, and other various Thai private firms. The initial investment is estimated at over 6 billion baht.
The project is expected to attract major Korean companies like Hyundai and KIA to invest in the province, Mrs. Narumon said. This aligns with the Thai government’s economic goals, which include job creation and technology transfer.
-=-=-=-=-=-=-=–=-=-=-=-=-=-=-=
Don’t forget to subscribe to our newsletter and get all our news delivered to you in one spam-free daily e-mail Click here! OR, enter your e-mail below!
