IEAT land sales to stimulate southern economic development.

Mar 20, 2024 at 07:14 PM The Thai government sold land in the Southern Regional Economic Aid Industrial Zone of Thailand to Quality Construction Products Plc (Q-Con), a light brick manufacturer. The 35 rai land plot was sold for 1.05 billion baht. The deal will revitalize demand for bricks and support the government's plan to develop the southern region's economy. IEAT president Veris Ammapala said the acquisition would help create new jobs and support other investment projects requiring building materials. "Q-Con is our major client, acquiring industrial land in many areas in other parts of the country," he added.

Thai government directs efforts towards economic development in the Southern region

by supporting agricultural trade and tourism. Prime Minister Sretta Thavisin had earlier said that the southern provinces, especially Betong in Yala, had the potential to become leading tourist destinations in parallel to rival Fuket.

Southern Regional Industrial Zone in Songkhla

located near Yala, has a total area of 2,261 rai, including industrial zone (917 rai), commercial and residential zone (37 rai), infrastructure and green zone (1,194 rai) and free zone (113 rai), which is used for various purposes including duty-free customs control zone.

This zone has 48 companies with 2,811 employees and a total investment of 5.98 billion baht. Highlighted industries include rubber processing, which accounts for 37% of all manufacturing companies in the zone, followed by food (11%), plastic (11%), steel and metal (11%), and other industries (30%). "The majority of investors are Thais, who account for 56% of the total, followed by Malaysians (21%), Japanese (4%) and other nationalities (19%)," added Mr. Veris. IEAT is promoting land sales in the Southern Regional Industrial Zone by offering a 3% discount for new investors and a 5% discount for existing investors who want to purchase additional plots of land.

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