Thailand’s Amata, Japan’s Marubeni team up for Vietnam industrial park development

Japanese giant Marubeni and Thai developer Amata have established a strategic partnership to develop the Amata City Ha Long industrial park in Quang Ninh province.

In a Wednesday statement, Amata subsidiary Amata VBN said the partnership was struck following MC Economic Estate Development Vietnam Corporation, a Marubeni subsidiary, acquiring a 20% stake in Amata City Ha Long JSC, operator of Amata City Ha Long, also known as Song Khoai industrial park.

The acquisition was completed May 31 this year, Amata VN said, without elaborating.

Amata City Ha Long has proved to be a top destination in the region, attracting 18 foreign direct investments (FDI) with a registered capital of over $2.6 billion so far. Notable investors include Autoliv, Foxconn, Jinko Solar, Tamagawa Seiki and Parts Seiko.

Mabubeni’s involvement is expected to advance the facility’s development towards sustainable practices and attract a wider pool of investors, with a particular focus on Japanese enterprises, the statement said.

It said the strategic alliance “positions Amata City Ha Long for continued growth and solidifies its position as a premier destination for industrial park destination in Vietnam.”

Tamagawa Vietnam Co. Ltd., a subsidiary of Japanese sensor maker Tamagawa Seiki, started building a $35-million factory at Amata Ha Long last month.

Covering 6.27 hectares, the factory will manufacture angle sensors for engines of electric vehicles. It is set to begin official operations in the second quarter of 2025 with an annual capacity of 14.49 million items.

Authorities of Quang Ninh province, located in Vietnam’s northern key economic region, have said they expect FDI inflow of $1.5 billion in FDI to Amata City Ha Long this year.