EEC/circular industrial estate

Chatrudee Theparat

The Industrial Estate Authority of Thailand ( IEAT ) joins hands with the Eastern Economic Corridor (EECO) to establish the first circular industrial estate of Thailand in a new smart city of EEC area.

IEAT signed a memorandum of understanding(MoU) with the Eastern Economic and Corridor Office (EECO) to develop the first circular industrial estate.

The first circular industrial estate in Thailand is established under the concept of sustainable and environmentally-friendly development.

Yuthasak Supasorn, chairman of IEAT, expressed congratulations after the signing MoU to drive circular industrial estate development between IEAT and EECO.

The cooperation of both sides stems from the commitment to create the circular industrial estate project along with investment in the EEC Business Center and EEC Capital City under the concept of sustainable and environmentally friendly development.

Putting ahead the first circular industrial estate is considered as a good implementation to apply the circular economy principle to the establishment of the industrial estate that focuses on using available resources for maximum efficiency. The circular estate is aimed to promote recycling in a bid to reduce waste and focus on sustainability.

Veeris Ammarapala, governor of IEAT, as a state enterprise agency under the Ministry of Industry, said the main mission of IEAT is to establish industrial estates and provide utilities and necessary public facilities for industrial operations.

“The investment management covers environmental and safety management. As well as the management industrial estates to be the most efficient. The management must be in line with the needs of stakeholders and investors along with distributing prosperity to the region.” Mr Veeris said.

The EECO is also a government agency with the objective to promote investment. The significant duty is to promote investment and upgrade innovation and develop advanced technology in Thailand.

“This cooperation is a good implementation to develop more sustainability of the circular economy. IEAT and EECO will jointly support the development of circular industrial estate projects," Mr Veeris said.

"This is an important step to develop the circular economy in Thailand. We are confident that the circular industrial estate will be able to attract both domestic and foreign investment. It will create jobs, generate income and definitely stimulate the country's economy."

Chula Sukmanop, secretary general to EECO (second from right)

Chula Sukmanop, secretary general to EECO, said signing the MoU wad an important cooperation between EEC and IEAT to jointly drive the preparation of the area to support green technology industries and the circular economy.

He said the circular economy will help support Thailand to achieve sustainable development goals. It will also support the use of land in the EEC Business Center and the new smart city or EEC Capital City. It helps promote and drive investment in targeted industry, especially the cluster of bio-circular and green (BCG) economy.

“The development of a circular economy is expected to help the EEC to strengthen the investment ecosystem. Circular industrial estate will help promote the use of clean energy and attract investment to the EEC area.” Mr Chula said.

IEAT will establish a working group to drive the development of circular industrial estate. A feasibility study for the establishment of the circular industrial estate will be carried out. A supervision for circular industrial estate and supporting relevant information to EECO is kept in focus.

EECO will be responsible for acquiring a potential land for the development of a circular industrial estate. It also supports information related to the EEC Business Center project and the new smart city ( EEC Capital City) to IEAT.