The Industrial Estate Authority of Thailand (IEAT) aims to sell and lease 2,500 rai of industrial land in fiscal 2023 as it takes advantage of the relocation of production facilities to Thailand.
In fiscal 2022, from October 2021 to September 2022, the authority's land sales and leases stood at 2,016, a year-on-year increase of 65%.
As investment shifts to Asean, with Thailand's Eastern Economic Corridor (EEC) emerging as an attractive destination, the country's economic recovery will be supported, said Veeris Ammarapala, governor of the IEAT.
"Investors have relocated their production bases since the US-China trade war began, and Thailand has caught their eye," he said.
The EEC area covers parts of Chon Buri, Rayong and Chachoengsao, which will be turned into a high-tech industrial hub hosting 12 targeted S-curve industries, including new-generation cars, smart electronics, robotics, logistics, and wellness tourism.
The IEAT operates 66 industrial estates in 16 provinces both inside and outside the EEC zone. It solely owns 15 industrial estates and operates others as part of joint ventures.
So far it has sold 1,716 rai of industrial land in EEC areas, and 229 rai elsewhere, to investors.
"Their investments were valued at 137 billion baht and created 39,643 new jobs," said Mr Veeris.
The government is also developing key infrastructure projects to serve investment in the EEC area. They include a high-speed rail system linking three airports, U-tapao aviation city, the third-phase development of Map Ta Phut deep-sea port in Rayong, and the third-phase development of Laem Chabang deep-sea port in Chon Buri.
The IEAT operates the Map Ta Phut deep-sea port.
The authority earlier announced it wanted to develop a dry port in Udon Thani, with the aim of making the northeastern province a centre for regional land transport, linking with the China-Laos high-speed train system.
The new inland transport facility will support trade among provinces in the Northeast and the whole Thai economy, Mr Veeris said earlier.
To stimulate foreign investment in Thailand, the government has also granted long-term resident visas to businesspeople who want to establish their regional headquarters here.