Quang Ninh province aims to attract $1.5 bln in Thailand-invested industrial park next year

Vietnam’s northern province of Quang Ninh is looking to attract investment of at least $1.5 billion in 2024 in Song Khoai Industrial Park, also known as Amata City Ha Long, invested by Thailand’s leading industrial developer Amata.

Nguyen Xuan Ky, chief of Quang Ninh's Party Committee, made the statement at a Tuesday meeting. He requested relevant agencies to speed up the construction of the facility, especially site clearance.

So far, site clearance has been completed for 385 hectares of the 714-hectare facility, or 54.02%, and the construction of 180 hectares. For the five phases of the project, Ky asked relevant agencies to complete the second phase this month and the third phase in the first quarter of 2024.

He made other requests for high-quality workforce training, waste and wastewater treatment, traffic and worker safety, and the simplification of administrative procedures.

Quang Ninh authorities must develop Song Khoai Industrial Park into a key industrial park of the Red River Delta, with a focus on new-generation foreign direct investment (FDI), in line with green, sustainable, and competitive model, Ky added.

So far, Song Khoai Industrial Park has attracted 15 FDI projects with total registered capital of $2.38 billion, covering 132.5 hectares. The figure includes 13 FDI projects this year with total registered capital of $1.4 billion.

Song Khoai Industrial Park was established in 2018 as the third Amata industrial park in Vietnam.

In October, Quang Ninh authorities approved Amata to lease an additional 37.2 hectares to conduct the second phase of Song Khoai Industrial Park. The lease duration is until March 2068 and tenants will have to pay lease fees annually.

The latest investments in the facility are all Japanese. In November, Quang Ninh province granted investment certificates to four projects, namely Castem Vietnam, Part Seiko Vietnam, Tamagawa Vietnam, and Fujix Vietnam, with total registered capital of $80 million.

A major investment in the industrial park is China-headquartered Jinko Solar factory worth VND17.4 trillion ($709.1 million), inaugurated in October. The firm also received an investment certificate to pour $1.5 billion into a solar cell complex.

In June, Quang Ninh province granted investment certificates to two projects proposed by Apple supplier Foxconn with registered capital of a 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.