Somhatai Panichewa, chief executive of Amata VN Plc, made the statement at a press conference last week on the occasion of the firm’s 20th anniversary in Vietnam.
The Thai corporation will develop the industrial-serviced township complex project, dubbed Amata City Long Thanh, in Dong Nai province, 35 kilometers to the east of Ho Chi Minh City.
The mammoth estate will be built on an area of 1,285 hectares with an investment of $634 million and will consist of three projects.
The construction of the first project, which will cost an estimated $282 million, will be kick-started by the end of 2016 and will attract investments in the hi-tech, automatics and environmental-friendly sectors.
The other two projects are the 753-hectare mega-township and the 123-hectare serviced township.
The Amata City Long Thanh is located in the would-be $16-billion-USD Long Thanh International Airport and near seaports. It is also connected with the metropolis of Ho Chi Minh City via the recently-concluded Long Thanh-Dau Giay expressway, which shortens the traveling time between Dong Nai and HCM City to 15-20 minutes from more than two hours previously, said Ms. Somhatai Panichewa.
The executive tipped that Amata together with domestic partners are working on a hi-tech urban-industrial complex, dubbed Amata City Ha Long, in the northern province of Quang Ninh.
This project will stretch on an area of 5,789 hectares and will have an initial investment of $1.6 billion. Once in place, the estate will accommodate investors of the automatics, biology, information technology and electronics industries.
The Thai firm expects to prompt investors to build research and development facilities, develop logistics services, exhibition centers and laboratories. The project will generate revenues of some $5 billion per year and create 300,00 jobs.
Sharing about reasons for bold expansion plans in Vietnam, Ms. Panichewa said that Vietnam is deepening regional and international integration via the ASEAN Economic Community, the EU-Vietnam FTA and the Trans-Pacific Partnership (TPP). Vietnam is moving to perfect its investment climate, which creates a big opportunity for the country and Amata to lure foreign investors.
Over 1,000 partners of Amata in Thailand are seeking to expand to neighboring countries, especially in fast-growing economies like Vietnam, said Vikrom Kromadit, the founder of Amata Corporation Plc.
Amata Corp, Thailand’s biggest industrial estate developer, has three IPs with a combined area of 100 square kilometers in Thailand and Vietnam, which have attracted more than 1,100 companies from 30 countries and territories.
Amata VN Plc, a subsidiary of SET-listed Amata Corporation, was set up in December 1994, is a joint venture between Amata VN Plc and Sonadezi Bien Hoa. It was turned into a joint stock company in 2009.
Amata VN Plc has recently launched an initial public offering in Thailand. Proceeds will be used to finance expansion of the company’s industrial estate in Vietnam.
Amata VN Plc’s first estate, Amata City Bien Hoa, is near Ho Chi Minh City. Approximately 80% of Amata City Bien Hoa is occupied, while the rest is expected to be leased within four years. Among investors in the estate, 48% are Japanese, with the rest from Taiwan, South Korea, the US and Europe, according to the Bangkok Post.