EXIM Thailand is ready to support the Special Economic Zone to be set up in Poipet featuring industrial park and open markets along Thai-Cambodian border. The project will address the government’s policy to promote the relocation of Thai industries to neighboring countries which will help Thai businesses lower production cost, obtain tax benefits and facilitate export to the European and US markets. Dr. Narongchai Akrasanee (middle), Chairman of the Board of Executive Directors, Export-Import Bank of Thailand (EXIM Thailand) and Dr. Apichai Boontherawara (left), EXIM Thailand President, recently called on Mr. Cham Prasidh (right), Senior Minister, Ministry of Commerce of Cambodia in Phnom Penh and exchanged views on Cambodia’s plan to establish a Special Economic Zone in Poipet Commune, Banteay Meanchey province. A feasibility study is now being conducted on the project’s infrastructural requirements such as road network, water supply, electricity, wastewater treatment, telecommunications and other investment facilities. When completed, the Special Economic Zone will be a large industrial and trade center focusing mainly on textile, garment and processed agricultural products. Other target industriesinclude consumer products, agricultural equipment, motorcycle spare parts and glass
mirrors. The zone will also consist of border customs checkpoint, one stop service center, residential areas, supermarkets, parking areas, wholesale and export markets for vegetables, fruits, dried food, rice, fish, seafood and plants. According to Dr. Narongchai, EXIM Thailand’s support will range from consulting services on project funding to investment promotion among high-potential Thai business enterprises interested in relocating to the Special Economic Zone. With a goal to push forward the setting up of this first industrial park along the border of Thailand and its neighboring countries, EXIM Thailand hopes to play a role in job creation for the local community, production cost reduction for Thai investors, provision of better access to raw materials, labor and tax benefits not only for business operations in this zone but also exports to European and US markets. Moreover, this project will complement the Bank’s strategy to expand Thai investments overseas which essentially includes Contract Farming promotion and industrial relocation to neighboring countries. It will also nurture the development of Thailand’s and the overall Greater Mekong Subregion’s industrial sector in the long run. In addition, the Cambodian Commerce Ministry roadshow team led by Mr. Cham Prasidh will visit Thailand on October 2-6, 2006, for further discussion with a working group on Cambodia’s tourism promotion and road network development. The roadshow is also aimed at attracting more Thai investors including EXIM Thailand clients to invest or operate joint ventured businesses in the Poipet Special Economic Zone.