Realty firm Phat Dat eyes 805-hectare urban, industrial area in central Vietnam

By Tri Duc
Tue, June 13, 2023 | 2:21 pm GMT+7

Phat Dat Real Estate Development Corporation plans to invest in an 805-hectare service, urban and industrial area within the Dung Quat Economic Zone (EZ) in the central province of Quang Ngai.

According to Phat Dat’s proposal sent to provincial authorities, the facility, named Phat Dat-Dung Quat, will cover 495 hectares in zone 2 and 310 hectares in zone 4 in the Binh Thanh area of the economic zone. Quang Ngai authorities have asked Dung Quat EZ to check and make recommendations for the proposal.

A factory within Dung Quat Economic Zone, Quang Ngai province, central Vietnam. Photo courtesy of Hoa Phat Group.

A factory within Dung Quat Economic Zone, Quang Ngai province, central Vietnam. Photo courtesy of Hoa Phat Group.

According to the Dung Quat EZ plan for 2045 announced in March, the 45,332-hectare EZ will cover 33,581 hectares of land, 1,492 hectares of Ly Son island, and 10,711 hectares of water surface.

With a target of growing into a sea-based economic hub, the EZ will allocates 14,000 hectares for urban area development and 713 hectares for tourism activities. Major economic activities there include an oil refinery, chemicals, steel, shipbuilding, and a deep-water seaport.

The 45,332-hectare Dung Quat Economic Zone in Quang Ngai province borders the East Sea, internationally known as South China Sea, to the east, the North-South Railway to the west, and Quang Nam province to the north.

Quang Ngai has a strategic position in Vietnam's Central Key Economic Zone and the East-West Economic Corridor, with a convenient network of roads, railways, waterways, and airways.

Earlier this month, Quang Ngai gave an in-principle nod to Messer, a German industrial gas producer, to build a $133 million factory in the Dung Quat Economic Zone.

The most recent industrial park project in the Dung Quat EZ was a South Korean investment of VND1.3 trillion ($55.87 million) in the Binh Hoa-Binh Phuoc Industrial Park. Receiving approval in June 2022, it aims to mainly draw South Korean investors in fields such as textile dyeing, garments, footwear, jewelry, precious stones, crafts, petrochemicals, paint, chemicals, electronics, construction materials, and auto parts.

In 2022, Phat Dat posted an after-tax profit of VND1.16 trillion ($49.45 million), failing to fulfill its target. "However, this was the best result the firm could achieve amid the gloomy economic picture," said CEO Bui Quang Anh Vu.

Phat Dat, listed on the Ho Chi Minh Stock Exchange as PDR, closed the Monday session at VND17,700 ($0.75), up 4.73%.

Comments (0)
  • Read More
Posco keen on investing in Vietnam's $2.2 bln LNG power project

Posco keen on investing in Vietnam's $2.2 bln LNG power project

South Korea’s steelmaker Posco is eyeing to invest in the $2.2 billion Quynh Lap LNG-fired power plant project in Vietnam’s central province of Nghe An.

Energy - Thu, November 21, 2024 | 10:42 am GMT+7

Vietnam firm Hoa Lam to build $212 mln Aeon Mall in Mekong Delta

Vietnam firm Hoa Lam to build $212 mln Aeon Mall in Mekong Delta

The Mekong Delta city of Can Tho has accepted a subsidiary of private multi-sector Hoa Lam Group as the investor of the Aeon Mall Can Tho commerce and service center.

Industries - Thu, November 21, 2024 | 10:31 am GMT+7

Vietnam startup expert closes Monkey in Black coffee shop

Vietnam startup expert closes Monkey in Black coffee shop

Tung BT (Tran Thanh Tung), a popular startup expert and social media influencer, is closing his final coffee shop in Ho Chi Minh City, ending a 10-year journey of the "Monkey in Black" brand.

Companies - Thu, November 21, 2024 | 8:16 am GMT+7

Vietnam-Singapore ties set for elevation to comprehensive strategic partnership

Vietnam-Singapore ties set for elevation to comprehensive strategic partnership

Vietnam and Singapore will elevate bilateral ties to a comprehensive strategic partnership and Singaporean Prime Minister Lawrence Wong will visit Vietnam next year.

Politics - Wed, November 20, 2024 | 8:16 pm GMT+7

Vietnam’s Vingroup establishes robotics firms, with co-founder’s 2 sons as major shareholders

Vietnam’s Vingroup establishes robotics firms, with co-founder’s 2 sons as major shareholders

Vingroup, Vietnam’s largest private conglomerate by ecosystem, has set up a robotics unit as it moves to ramp up its industrial-high technology ecosystem.

Companies - Wed, November 20, 2024 | 6:17 pm GMT+7

E-commerce, digital platforms likely to pay taxes on behalf of their sellers in Vietnam

E-commerce, digital platforms likely to pay taxes on behalf of their sellers in Vietnam

E-commerce and digital platforms will have to declare and pay taxes on behalf of their sellers starting January 1, 2025, according to a draft amendment to the Law on Tax Administration.

Finance - Wed, November 20, 2024 | 5:37 pm GMT+7

Flexibility, adaptability key to effective leadership: PepsiCo Vietnam exec

Flexibility, adaptability key to effective leadership: PepsiCo Vietnam exec

In a rapidly changing world, leaders need to develop the skill of being “as flexible as seaweed,” says Nguyen Viet Ha, general director of PepsiCo Foods Vietnam.

Companies - Wed, November 20, 2024 | 3:52 pm GMT+7

Central Vietnam province okays $88 mln automobile part project

Central Vietnam province okays $88 mln automobile part project

Binh Thuan province's industrial zone authority on Tuesday granted an investment registration certificate to a $88 million project invested by Taiwan’s NeoSCM Limited.

Industries - Wed, November 20, 2024 | 3:44 pm GMT+7

Thai packaging firm Thantawan Industry makes inroad into Vietnam

Thai packaging firm Thantawan Industry makes inroad into Vietnam

Thantawan Industry Public Company Limited, a leading Thai manufacturer of premium plastic packaging, has inked a deal for a 30-year factory lease, marking its inaugural investment in Vietnam.

Industries - Wed, November 20, 2024 | 3:34 pm GMT+7

Developer Novaland gets legal hassles cleared for satellite urban area bordering HCMC

Developer Novaland gets legal hassles cleared for satellite urban area bordering HCMC

Major property developer Novoland has had legal obstacles for its Aqua City project cleared after Dong Nai Chairman Vo Tan Duc approved Tuesday a critical adjustment to the southern province’s urban development plan.

Companies - Wed, November 20, 2024 | 2:29 pm GMT+7

Pegatron to quadruple workforce at $800 mln project in Vietnam

Pegatron to quadruple workforce at $800 mln project in Vietnam

Pegatron Vietnam, a subsidiary of Taiwanese electronics manufacturer Pegatron Corporation, is set to soon quadruple the company's workforce for its $800-million project in Vietnam.

Industries - Wed, November 20, 2024 | 2:03 pm GMT+7

Thailand’s WHA greenlighted to invest $55 mln in central Vietnam industrial park

Thailand’s WHA greenlighted to invest $55 mln in central Vietnam industrial park

WHA Group, a leading Thai provider of fully integrated logistics and industrial facilities solutions, has secured in-principle approval from the Vietnamese government to invest in an industrial park in central Vietnam.

Industrial real estate - Wed, November 20, 2024 | 12:01 pm GMT+7

Indonesia, Brazil sign cooperation deals worth $2.65 bln

Indonesia, Brazil sign cooperation deals worth $2.65 bln

Indonesia and Brazil on Monday sealed cooperation agreements worth $2.65 billion in the areas of renewable energy, sustainable agriculture and technology at the Indonesia-Brazil Business Forum held in Rio De Janeiro, Brazil, on the sidelines of the G20 Summit.

Southeast Asia - Wed, November 20, 2024 | 11:57 am GMT+7

Nusantara not yet feasible as Indonesia’s capital city: authorities

Nusantara not yet feasible as Indonesia’s capital city: authorities

Indonesian Minister of Home Affairs Tito Karnavian said Jakarta still holds the capital status despite the enactment of State Capital Law No. 3 of 2022, adding that the capital city will officially be relocated after the president issues a presidential decree.

Southeast Asia - Wed, November 20, 2024 | 11:55 am GMT+7

Malaysia’s Halal industry to make up 10.8% of GDP by 2030

Malaysia’s Halal industry to make up 10.8% of GDP by 2030

Malaysia’s Halal industry is projected to account for 10.8% of the country's GDP by 2030, with an estimated value of RM231.1 billion ($51.7 billion).

Southeast Asia - Wed, November 20, 2024 | 11:48 am GMT+7

Thailand takes more fiscal measures to sustain growth momentum

Thailand takes more fiscal measures to sustain growth momentum

The Thai government is working on a raft of fresh fiscal measures to sustain an economic recovery, foster new foreign investment, and lower the near-record household debt, says Thai Prime Minister Paetongtarn Shinawatra's top aide.

Southeast Asia - Wed, November 20, 2024 | 11:46 am GMT+7