Industrial investment projects continue to pile up in Thailand, especially in targeted industries such as electric vehicles and smart electronics promoted by the government in the Eastern Economic Corridor (EEC), says developer Pinthong Industrial Park Plc (PIN).
"We are in talks with prospective investors who are interested in buying our industrial land in order to expand their investment in Thailand," said Pira Patamavorakulchai, chief executive of PIN.
The company is accelerating sales in the final quarter of this year by providing a one-stop service to facilitate its customers, as well as taking advantage of the EEC scheme, he said.
For the first nine months this year, the number of investment projects in the EEC, which covers parts of Chon Buri, Rayong and Chachoengsao, increased by 8.5% year-on-year to 98, according to the government.
Mr Pira said investors are interested in renting PIN factories in an area spanning 20,000 square metres in Chon Buri.
The company sells industrial land and leases factories. It owns six industrial estates, covering 7,500 rai of land, in Chon Buri and Rayong.
In the third quarter this year, PIN posted revenue growth of 58.4% year-on-year with 149 million baht, attributed to increased land sales following the reopening of the country late last year.
From January to September, its revenue increased by 41.5% year-on-year to 565 million baht. PIN recorded a profit uptick of 47.4% for the period to 279 million baht.
In a related development, the EEC Office recently met with the German Asia-Pacific Business Association to encourage companies to invest in targeted industries, especially those related to bio-, circular and green (BCG) economic development.
BCG promotes manufacturing of value-added products with no or minimal impact on the environment.
The government set a target of US$60 million in investment in the EEC area within 2027.
"This meeting marked another success for our work," said Kanit Sangsubhan, chairman of the EEC Advisory Board.
