Thailand-invested Amata City Ha Long JSC has received approval to lease an additional 37.2 hectares of land in Vietnam’s northern province of Quang Ninh to conduct the second phase of Song Khoai Industrial Park.
Under the decision by Quang Ninh authorities dated October 25, the land includes 34.5 hectare of industrial areas, 0.67 hectares of trees, 0.57 hectares of water surface, and 1.42 hectares for traffic infrastructure. The lease duration is until March 29, 2068 and tenants will have to pay lease fees annually.
Song Khoai Industrial Park, also known as Quang Yen Economic Zone or Amata City Ha Long, was established in 2018 as the third Amata industrial park in Vietnam.
The planned 714-hectare facility is a major industrial park in Quang Ninh province, with a focus on high-tech industry and manufacturing-processing. 123 hectares for the first stage were allocated to the investor upon completion of land clearance.
So far, the facility has attracted $1.7 billion in investment, including $536 million in the first nine months of this year.
The latest investment was made by China-headquartered Jinko Solar. In October, Jinko Solar put its VND17.4 trillion ($709 million) factory into operation. The factory is set to generate revenue of VND100 trillion ($4.07 billion) per year and employ 4,500 laborers. Quang Ninh authorities have also granted an investment certificate to another project invested by Jinko Solar for a $1.5 billion solar cell complex.
Also in October, Taiwan-invested Renli Industrial Vietnam Co. Ltd. leased three hectares in Song Khoai Industrial Park to build an automobile component factory. The Taiwan-invested firm is set to kick off construction of the plant later this quarter, aiming to open in June 2025. Once operational, the factory is expected to employ 600 workers and 40-50 foreign experts.
In June, Quang Ninh province granted investment certificates to two projects proposed by Apple supplier Foxconn with registered capital of combined $246 million. The 6.3-hectare FECV Foxconn Quang Ninh factory, with an investment of $200.24 million, will manufacture and assemble electronic components, chargers, and charger controllers for electric vehicles. Meanwhile, the 4.1-hectare FMMV Foxconn Quang Ninh plant, with an investment of $46 million, will produce components for communications and IT products. Both projects are located in Song Khoai Industrial Park.