Estate for SMEs in EEC mooted

A new industrial estate developed specifically for small and medium-sized enterprises (SMEs) is likely to be situated in the Eastern Economic Corridor (EEC), says the Industrial Estate Authority of Thailand (IEAT).
Officials expect to use part of an IEAT-owned industrial estate in the EEC to develop the new industrial complex, said Sumet Thangprasert, acting governor of the IEAT.
The EEC, which spans parts of Chon Buri, Rayong and Chachoengsao, is meant to be Thailand’s high-tech industrial hub hosting 12 targeted industries, including new-generation cars and smart electronics.
“We are in talks with many industrial estate developers to see whether they want to help SMEs, but in the end, the government may choose IEAT for this project,” he said.
The latest effort to help SMEs stems from an initiative of Industry Minister Akanat Promphan, who vowed to offer better financial and technical support to SMEs.
Mr Akanat said earlier he would discuss with the IEAT the idea of building a new industrial estate for SMEs.
Usually buying land to build factories inside industrial estates requires a huge investment, but this new estate could serve SMEs with a limited budget, he said.
The government wants to ensure SMEs will not shoulder expensive costs when they use facilities inside the estate.
“The IEAT wants to see industrial estate developers and SMEs agree on suitable expenses for facility usage under build-to-suit leases,” said Mr Sumet.
The authority has created a strong industrial estate network covering 68 locations in 16 provinces, attracting a cumulative investment of more than 17 trillion baht and creating jobs for 953,630 people.
He said the IEAT will cooperate with the Small and Medium Enterprise Development Bank of Thailand (SME D Bank) and the Industry Ministry to help firms that want to invest in the SME industrial estate.
“We want SMEs, which play an important role in driving the economy, to gain better access to financial sources,” said Mr Sumet.
There are more than 3 million SMEs registered with the government, said Pichit Mitrawong, managing director of SME D Bank.
“This will be a good opportunity for SMEs to enhance their business growth at the new industrial estate, while the government can manage the estate by promoting eco-friendly manufacturing and digital technology,” said Mr Pichit.