IEAT joins hands with the Eastern Economic Corridor (EECO) to establish the first circular industrial estate of Thailand in a smart new city of EEC area.
The Industrial Estate Authority of Thailand ( IEAT ) signed a memorandum of understanding(MoU) to 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.
Driving the first circular industrial estate is consider as a good implementation to apply the circular economy to the establishment of the industrial estate that focuses on using available resources for maximum efficiency. The circular estate is aim to promote recycling in a bid to reduce waste and focus on sustainability.
Important step of circular economy
Veeris Ammarapala, governor of IEAT added that the agency as a state enterprise agency under the Ministry of Industry. 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 spreading 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. 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. To create jobs, generate income and will definitely stimulate the country’s economy.” Said Mr Veeris.
EECO provides land plot for the estate
Chula Sukmanop, secretary general to EECO said signing the MoU is 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 support Thailand to achieve sustainable development. It also will support the use of land in the EEC Business Center and the new smart city or EEC Capital City. To promote and drive for investment in targeted industry, especially the cluster of bio-circular and green (BCG) economy.
“The development of a circular economy is expect to help EEC to strengthen the investment ecosystem. Circular industrial estate will enable 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 conducting feasibility study for the establishing of the circular industrial estate. A supervision for circular industrial estate, as well as supporting relevant information to EECO.
EECO will be responsible for acquiring a potential land for the development of a circular industrial estate. To support information related to the EEC Business Center project and the new smart city ( EEC Capital City) to IEAT.
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