Thai developer to invest $50 mln in second industrial park in central Vietnam

WHA Industrial Development, a leading industrial park developer in Thailand, will invest $50 million in building its second facility in the central province of Nghe An.

Nghe An authorities gave an in-principle approval for the project at a Wednesday meeting. WHA Industrial Zone Nghe An JSC, a subsidiary of WHA, will implement the project.

The industrial park, named WHA Industrial Zone 2, will cover 183.4 hectares in Nghi Loc district. The project is set to begin construction and enter operation in Q1/2025 and Q1/2028, respectively.

After beginning construction of the WHA Industrial Zone 1 in 2018, the 143.5 hectare first phase of the 498-hectare industrial park is operational and work is progressing on the 354.5 hectare second phase.

So far, WHA Industrial Zone 1 has attracted 32 investments with a total registered capital of $1.65 billion. Notable ones include a $500 million Goertek project, a $100 million Foxconn project, and a $150 million Sunny Optical project.

In January 2024, Jareeporn Jarukornsakul, chairperson and CEO of WHA, said the firm has invested $200 million in Nghe An and planned to pour another $1 billion over the next five years.

Other industrial parks planned by WHA in Vietnam include the 500-hectare WHA Smart Technology Industrial Zone 1 and the 300-hectare WHA Smart Technology Industrial Zone 2 in the central province of Thanh Hoa; a 1,200-hectare industrial park in the southern province of Ba Ria-Vung Tau; and a 400-hectare facility in the central province of Quang Nam.