Thailand IP developer WHA targets to raise investment in Vietnam to $1 bln

Thailand’s top industrial park (IP) developer WHA has invested $310 million in Vietnam since 2017 and aims to raise the figure to $1 billion.

WHA chairperson Jareeporn Jarukornsakul made the statement on Monday, on the sidelines of a ceremony for WHA to receive a license to invest in the WHA Industrial Zone 2 project in the central province of Nghe An.

The executive affirmed WHA would help attract investors into Nghe An and improve the province’s FDI attraction.

Nghe An allured $1.75 billion in registered foreign direct investment (FDI) in 2024, its record high. Nghe An Chairman Le Hong Vinh attributed the achievement to Nghe An’s economic transition from agriculture to industry, with a major contribution from WHA.

In another meeting with Nguyen Duc Trung, Party chief of Nghe An, Jareeporn Jarukornsakul predicted that Nghe An’s FDI attraction would continue to rise in 2025 amid the trend of Chinese businesses relocating to Vietnam.

In reply, Trung emphasized provincial authorities would facilitate WHA’s project, especially with administrative procedures, to maintain Nghe An’s strengths in FDI attraction.

He attributed Nghe An’s strong FDI attraction to WHA, as WHA facilities accounted for $1.26 billion out of $5.6 billion of FDI so far in the province.

WHA boasts over 30 years of experience in developing industrial parks. The company’s industrial estate business in Vietnam currently spans 3,650 hectares of operational and under-construction industrial zones, including the operational WHA Industrial Zone 1 in Nghe An which covers 500 hectares.

In late 2024, the Vietnamese government granted in-principle approval to WHA to build the 183.4-hectare WHA Industrial Zone 2 in Nghe An. Out of the total investment of VND1.2 trillion ($47.14 million), the Thai developer will contribute VND216 billion (around $8.5 million).