Thai IP developer Amata eyes clean energy cooperation with northern Vietnam province

Amata Group of Thailand on Wednesday recommended the northern province of Quang Ninh foster cooperation in clean energy development in the time to come.

At a meeting with Chairman of the provincial People's Committee Pham Duc An, Somhatai Panichewa, CEO of Amata Vietnam, highlighted the favorable investment environment in Quang Ninh thanks to preferential policies and local efforts in developing modern, synchronous infrastructure.

These factors have helped Amata enhance trust and maintain its commitment to expanding investments in the province, notably the Song Khoai Industrial Park project in Quang Yen township.

The IP, invested in by Amata Ha Long City JSC, has made significant progress. As of now, the park has attracted 19 corporate tenants, with total registered capital of up to $2.8 billion. This is a clear testament to the success of Quang Ninh's development strategy and the favorable investment environment, she noted.

To further maintain and accelerate the province's development, Panichewa proposed Quang Ninh continue to support the extension of project implementation timelines. She suggested adjusting the criteria to attract higher-quality investors, thereby enhancing the sustainable development of the group’s projects here.

For his part, An said he appreciated the cooperation between the province and Amata over the years. He affirmed Quang Ninh is currently one of the leading provinces in terms of economic growth, with an increasingly attractive investment environment thanks to its modern administration, sustainable local governance, and clear, transparent investor support policies.

“The province places a special emphasis on creating a favorable environment for strategic investors like Amata,” he stressed.

An assured that Quang Ninh will continue to create the most favorable conditions for investors, especially in administrative procedures, land clearance, quality human resources, and public utility services.

“The local investment environment will continue to be improved to ensure effective, equitable, and transparent development for businesses,” he added.

In response to Amata's proposals, the provincial leader instructed relevant departments and local authorities to continue coordinating with and supporting Amata in clearing obstacles, while ensuring the sustainable development of the group in the province.

In the first 11 months of 2024, Quang Ninh ranked second nationwide in attracting foreign direct investment (FDI), with a total of over $2.29 billion. This included 29 newly licensed projects with total registered capital of $1.65 billion and 20 projects with capital increases totaling $217.41 million.

The province’s economic growth is expected to reach 8.42% this year, ranking sixth in the Red River Delta region and 20th nationwide. The province's GRD is estimated at VND347 trillion ($13.63 billion), ranking 3rd in the Red River Delta and 7th nationwide.