Co-founder and CEO Jareeporn Jarukornsakul built industrial parks developer WHA from the ground up. Now she's facing the challenge of trade turbulence head-on
Jareeporn Jarukornsakul, Co-founder and CEO, WHA group
Image: Oat Chaiyasith for Forbes Asia
About a two-hour drive southeast of Bangkok, on Thailand’s eastern seaboard, lies a vast 1.3-million-hectare expanse covering three provinces on which rests the country’s ambition of becoming a regional manufacturing powerhouse. The government-sponsored Eastern Economic Corridor (EEC) has drawn billions of dollars of investments from multinational companies looking for a production base outside China.
Factories within this rising economic zone are housed in 26 sprawling industrial estates—and more than a third of these belong to WHA group, one of the biggest industrial estate developers in the country based on land size. With 2024 consolidated revenue of 12.6 billion baht ($375 million) and group market cap of 89 billion baht, WHA, led by co-founder and CEO Jareeporn Jarukornsakul, has been at the forefront of building these “smart parksâ€, which integrate basic amenities of power and water supply with digital infrastructure. WHA specialises in making custom-built units for its clients, who range from tech giants (Google) to EV companies (BYD) to makers of electrical appliances (Haier).
Now US President Donald Trump’s threat of punitive tariffs, announced two months after Jareeporn unveiled WHA’s 119 billion baht five-year expansion plan, presents the 57-year-old entrepreneur with one of the toughest challenges in her three-decade long business career. Speaking with Forbes Asia just after the tariff announcement, Jareeporn insists her country remains an ideal choice as a manufacturing hub, with its strategic location, supportive government policies and robust infrastructure. “I believe investment from China will continue to flow into Thailand,†she maintains.
The US is the biggest export market for both Thailand and Vietnam, where WHA has one industrial park and has committed to upping the ante with a $1 billion investment. The US accounts for about 18 percent of Thailand’s exports, amounting to $55 billion, according to data from the Thai Ministry of Commerce, and about 30 percent of Vietnam’s, or $120 billion, according to Vietnam government data. Jareeporn points out that the proposed tariffs of 36 percent on Thai goods and 46 percent on exports from Vietnam, are still significantly lower than the cumulative 145 percent slapped on China in early April. “In the longer term,†she says stoically, “we need to get through this chaotic period.â€
(This story appears in the 27 June, 2025 issue of Forbes India. To visit our Archives, click here.)