Chairman of Quang Ninh People’s Committee Nguyen Duc Long has handed over the investment registration certificate to Amata Vietnam, a subsidiary of Thailand-based Amata Corporation, in order to develop an industrial city in Quang Ninh province.
The whole project covering an area of 5,789 hectares has been approved its overall master planning on the development of an integrated industrial city, leading towards a smart city in the future.
The project is divided into three development phases with an estimated total investment of $1.6 billion.
Sharing with TheLEADER, CEO of Amata Vietnam Somhatai Panichewa said that the project would bring about $5 billion per year in revenue and 300,000 jobs for people in Quang Ninh and other provinces.
The project also creates motivation for Quang Ninh in attracting foreign direct investment (FDI). This has been seen as Amata’s strategic step in expanding to the north of Vietnam.
The first phase covering 714 hectares in Quang Yen town, Quang Ninh province has just obtained the investment registration certificate to develop the Song Khoai Industrial Park. The Industrial Park has the total investment capital of $156 million and would be implemented in five stages within 50 years.
The whole project aims to build the infrastructure of Song Khoai Industrial Park and attract investment projects in the fields of processing and manufacturing, high technology, biotechnology, etc.
According to Amata’s expectation, if the project were implemented right after receiving the certificate, the first phase of Song Khoai Industrial Park will be completed and put into operation at the end of 2019.
However, the time to start the project depends on the progress of compensation and site clearance which is expected to be implemented within about two years. The procedure preparation has been conducted before Amata receiving the investment registration certificate.
Thus, after five years from the signing of the memorandum of understanding on the co-investment in building a complex of a high-tech urban complex in Quang Ninh with Tuan Chau Group in March 2013, the Thai investor has been officially granted the investment certificate although the initial cooperation between these enterprises was unsuccessful.
Amata’s industrial city project is strategically located in the northern transportation hub close to international airports, a deep seaport that helps strengthen the logistics sector, and China, a big demand market.
“I believe with our investment, Quang Ninh will have a jump growth in the economy together with the improvement of the people’s quality of life in this area,” said Somhatai Panichewa.
Amata Corporation has been in Vietnam for more than 23 years with its first industrial city, Amata City Bien Hoa, with a total area of 700 hectares located in Vietnam’s Dong Nai province.
Currently, Amata City Bienhoa is home to 165 investors from 21 countries and territories with more than $2.7 billion of investment capital, creating 49,000 jobs.
Another other projects also located in Dong Nai province which is still under construction is the 1,270 hectare Long Thanh project, in which 33 per cent of the total space to be developed as a hi-tech industrial park and the remaining 67 per cent to be developed as an urban community.