Amata-invested park in northern Vietnam guns for $1.5 bln FDI this year

By Vy Anh, Dang Nhung, Hai Yen
Fri, May 31, 2024 | 2:12 pm GMT+7

Quang Ninh province, located in Vietnam’s northern key economic region, aims to attract $1.5 billion in foreign direct investment (FDI) to its Song Khoai industrial park this year.

The Song Khoai industrial park, invested by Amata City Ha Long JSC, under Thailand’s leading IP developer Amata, is situated in Quang Yen township. So far, it has welcomed 18 secondary investment projects totaling $2.6 billion, including $200 million since the start of this year.

Among these projects, three plants of Jinko Solar (Vietnam) Industries Co.,Ltd, part of China’s major solar module manufacturer Jinko Solar, have been put into operation. Eight projects are in progress, while the remaining seven are awaiting the finalization of building procedures. By end-2024, four projects are expected to go live.

 Jinko Solar plant No.1 at the Song Khoai industrial park, Quang Ninh province, northern Vietnam. Photo courtesy of Quang Ninh newspaper.

Jinko Solar plant No.1 at the Song Khoai industrial park, Quang Ninh province, northern Vietnam. Photo courtesy of Quang Ninh newspaper.

Notably, the Song Khoai IP is also home to the $46-million FMMV Foxconn Quang Ninh factory, owned by Taiwanese Apple supplier Foxconn. The 4.1-hectare project was awarded an investment registration certificate in June 2023, and it is scheduled to go on line in the fourth quarter of this year.

This facility will focus on manufacturing components and molds for IT products. Once operational, it is expected to employ 700 workers, offering an average monthly income of VND10 million ($393).

Additionally, the IP houses a $154-million plant of Sweden-based Autoliv, a global player in automotive safety systems. This nine-hectare factory is 70% complete. It will be equipped with manufacturing lines in Q2/2024, and is slated for a trial run in Q1/2025. The project’s annual capacity is set to reach 10 million products, primarily for export.

In the year to April 20, Quang Ninh province attracted total FDI of $733.5 million, the fifth-highest number among all localities in Vietnam.

The province is set to grant investment registration certificates to 10 projects valued at a total of $520 million from the U.S., South Korea, mainland China, and Taiwan in Q2. By end-Q2, it is estimated to receive nearly 30 FDI projects worth $1.4 billlion, nearly half of the year's target.

Comments (0)
  • Read More
Private firms eligible to invest in trans-Vietnam high-speed railway project

Private firms eligible to invest in trans-Vietnam high-speed railway project

The National Assembly, Vietnam's legislature, has allowed private companies to invest in the North-South high-speed railway project.

Economy - Fri, June 27, 2025 | 9:16 pm GMT+7

Vietnam legislature requests legal framework for pilot crypto asset market

Vietnam legislature requests legal framework for pilot crypto asset market

The parliament has requested prompt establishment of legal frameworks to pilot a crypto asset market in Vietnam, per a resolution adopted on Friday.

Investing - Fri, June 27, 2025 | 4:12 pm GMT+7

Vietnam parliament okays establishing one international financial center in HCMC-Danang

Vietnam parliament okays establishing one international financial center in HCMC-Danang

Vietnam will build one international financial center located in both Ho Chi Minh City and Danang, in which initiatives like digital assets and sandboxes will be tested under control, according to a newly-approved parliament resolution.

Economy - Fri, June 27, 2025 | 3:44 pm GMT+7

Businesses that want to survive must invest in quality governance: Sunhouse exec

Businesses that want to survive must invest in quality governance: Sunhouse exec

Vietnam is enjoying a huge advantage from the “China+1” wave given the U.S.-China trade war. The country is an alternative destination for many large corporations. No other country has the speed of building factories and growing exports as fast as Vietnam, says Nguyen Xuan Phu, chairman of Sunhouse, a leading home appliance manufacturer.

Executive Talk - Fri, June 27, 2025 | 1:50 pm GMT+7

Vietnam's consumer finance major F88 to trade on UPCoM in Q3

Vietnam's consumer finance major F88 to trade on UPCoM in Q3

F88 Investment JSC (F88), a leading consumer finance firm in Vietnam, will register its shares on the Unlisted Public Companies Market (UPCoM) in the third quarter of this year, said its leadership on Thursday.

Companies - Fri, June 27, 2025 | 11:37 am GMT+7

Chinese infrastructure, aviation giants wish to expand investment in Vietnam

Chinese infrastructure, aviation giants wish to expand investment in Vietnam

China Pacific Construction Group (CPCG) and Commercial Aircraft Corporation of China, Ltd. (COMAC) expressed their intention to expand operations in Vietnam while meeting with Prime Minister Pham Minh Chinh in Tianjin on Thursday.

Economy - Fri, June 27, 2025 | 11:19 am GMT+7

Viconship leaders join board of directors at Vietnam’s largest container fleet operator Hai An

Viconship leaders join board of directors at Vietnam’s largest container fleet operator Hai An

Hai An Transport and Stevedoring JSC's board of directors for the 2023-2028 term on Thursday received two new members - chairman Nguyen Xuan Dung and CEO Ta Cong Thong of Viconship, a leading seaport operator and service provider in Vietnam.

Companies - Fri, June 27, 2025 | 8:36 am GMT+7

Indonesia launches 1st health special economic zone in Bali

Indonesia launches 1st health special economic zone in Bali

Indonesian President Prabowo Subianto on Wednesday emphasized that Sanur Health Special Economic Zone (SEZ) is a breakthrough, marking the first time the country has established an SEZ specializing in the health sector.

Southeast Asia - Fri, June 27, 2025 | 12:00 am GMT+7

Indonesia begins $6 bln EV battery project

Indonesia begins $6 bln EV battery project

Indonesia is scheduled to break ground on an integrated electric vehicle (EV) battery project in East Halmahera, North Maluku, on June 29, as part of efforts to realize its commitment to reducing greenhouse gas emissions and protecting the environment.

Southeast Asia - Thu, June 26, 2025 | 11:57 pm GMT+7

Indonesia seeks cooperation in oil & gas, nuclear energy with Russia

Indonesia seeks cooperation in oil & gas, nuclear energy with Russia

Indonesia is seeking to strengthen energy cooperation with Russia and accelerate its nuclear energy development plan as part of a long-term energy security strategy amidst rising geopolitical tensions.

Southeast Asia - Thu, June 26, 2025 | 11:54 pm GMT+7

Vietnam’s Eximbank moves headquarters to Hanoi

Vietnam’s Eximbank moves headquarters to Hanoi

The State Bank of Vietnam (SBV), the country's central bank, on Tuesday okayed Eximbank's (HoSE: EIB) plan to move its headquarters from Ho Chi Minh City to Hanoi.

Banking - Thu, June 26, 2025 | 10:00 pm GMT+7

KFC dominates F&B brand rankings in Vietnam for 3rd running year

KFC dominates F&B brand rankings in Vietnam for 3rd running year

American fast food chain KFC, for third year in a row, has won the top spot in the Best F&B Rankings 2025 compiled by market research company Decision Lab.

Companies - Thu, June 26, 2025 | 6:22 pm GMT+7

Vietnamese consumers spend $16 bln on online platforms in 2024: report

Vietnamese consumers spend $16 bln on online platforms in 2024: report

Vietnam’s total gross merchandise value (GMV) on four major e-commerce platforms - Shopee, Lazada, TikTok Shop, and Tiki - reached $16 billion in 2024, a 15.9% increase compared to 2023.

Economy - Thu, June 26, 2025 | 5:11 pm GMT+7

Greenity consortium wins bid for $57.43 mln waste-to-energy plant in central Vietnam

Greenity consortium wins bid for $57.43 mln waste-to-energy plant in central Vietnam

A Hanoi-based energy consortium named Greenity has won a bid to develop the Long My domestic solid waste treatment plant project using waste-to-energy technology in the south-central province of Binh Dinh.

Companies - Thu, June 26, 2025 | 4:54 pm GMT+7

Vietnam Airlines plans launch of cargo carrier next year, fleet expansion

Vietnam Airlines plans launch of cargo carrier next year, fleet expansion

National flag carrier Vietnam Airlines (HoSE: HVN) plans to launch a dedicated cargo airline in 2026, using its existing Airbus A321 fleet, general director Le Hong Ha announced at the company’s 2025 AGM held on Wednesday.

Companies - Thu, June 26, 2025 | 4:43 pm GMT+7

Prison sentence reduced by 14 years for former FLC chairman Trinh Van Quyet

Prison sentence reduced by 14 years for former FLC chairman Trinh Van Quyet

Trinh Van Quyet, former chairman of FLC Group, has seen his prison sentence decreased from 21 years to 7 years for "fraudulent appropriation of property", while receiving a fine of VND4 billion ($153,000) for "stock market manipulation".

Economy - Thu, June 26, 2025 | 2:51 pm GMT+7