Thailand's WHA Industrial Development has received in-principle approval to build a 400-hectare, VND3.5 trillion ($141.5 million) industrial park in the central province of Quang Nam.
In a Tuesday document, Quang Nam authorities asked relevant agencies to facilitate project studies by the firm.
They also said the project should attract projects in prioritized sectors including automobile, mechanical engineering, electricity, electronics, telecommunications, healthcare, high-tech industry, and logistics.
WHA is set to receive official documents from Quang Nam to process the project at an event later this week that will announce provincial plans. The firm had signed a memorandum of understanding with provincial authorities for the project in 2022.
WHA currently operates another industrial park in Vietnam - the WHA Industrial Zone 1 in the central province of Nghe An with a total area of 2,100 hectares. Construction of phase 1 covering 145 hectares has been completed, and phase 2 (355 hectares) is under construction.
In January 2024, Jareeporn Jarukornsakul, chairperson and CEO of WHA, said the firm had invested $200 million in Nghe An and planned to pour another $1 billion over the next five years.
WHA plans to build more industrial parks in Vietnam, including the 500-hectare WHA Smart Technology Industrial Zone 1 and 300-hectare WHA Smart Technology Industrial Zone 2 in the central province of Thanh Hoa. Earlier this month, WHA submitted a proposal to the southern province of Ba Ria-Vung Tau for building a 1,200-hectare industrial park.