Thailand’s Amata plans $180 mln industrial park in HCMC

Thai industrial developer Amata plans to develop a new industrial park Ho Chi Minh City, Vietnam's southern economic hub, with a minimum investment of $180 million, said an executive.

The plan was revealed by Somhatai Panichewa, CEO of Amata VN, during a meeting on Monday with Nguyen Van Duoc, Chairman of the HCMC People’s Committee. The talks featured Thai Ambassador to Vietnam Urawadee Sriphiromya.

The project will span 3,800 hectares in an area formerly part of Ba Ria-Vung Tau province, which was merged into HCMC in June. It will focus on high-tech manufacturing and logistics under a smart industrial-urban model, Panichewa said.

Amata has partnered with a Japanese consulting firm to conduct a feasibility study and master planning for the development, the executive said, calling for local government support in investment licensing and administrative procedures.

She also invited city officials to visit Amata’s smart city projects in Thailand and the Amata Bien Hoa Industrial Park in neighboring Dong Nai province, where the company is piloting sustainable urban-industrial developments.

Amata aims to leverage its experience in green and high-tech infrastructure to contribute to Vietnam’s next phase of industrial growth, she added.

At the meeting, Vikrom Kromadit, Amata’s chairman and CEO, said the group has developed more than 140 square kilometers of industrial land across multiple countries over the past 35 years, hosting over 1,600 factories and contributing tens of billions of dollars to regional economic growth.

In Vietnam, Amata has invested more than $1.5 billion, with over half concentrated in Dong Nai province. Its industrial parks nationwide now host around 200 tenants in high-value industries.

Chairman Nguyen Van Duoc welcomed Amata’s proposal, saying it aligns with HCMC’s industrial and logistics development strategy. He tasked the Department of Finance to coordinate with relevant agencies on zoning and investment procedures.

He added that the city is also seeking to deepen cooperation with Thai investors in smart city, green energy, and high-tech sectors, consistent with its long-term sustainability goals.

Besides the HCMC development, Amata plans to invest in an industrial park project in the northern province of Phu Tho, following a deal signed in May, said Amata VN CEO Somhatai Panichewa said at a meeting with provincial Party chief Dang Xuan Phong in August.

The project, known as Doan Hung Industrial Park, is slated to be developed into a smart city between 2025 and 2030, with the first phase covering 300-500 hectares in Tay Coc and Doan Hung communes.

Last year, Amata VN earned a profit of THB132.7 million ($3.8 million), down 68.8% year-on-year, the company said in a 2024 performance review, citing higher real estate costs and the write-off of assets damaged by super typhoon Yagi.