SET-listed Amata VN, an industrial estate developer in Vietnam, is working with the Vietnamese government to develop a new industrial complex to draw more foreign investment to the country.
The construction of a new industrial complex, to be located in Phu Tho province in northern Vietnam, is based on a sustainability concept to make the venue environmentally friendly, said Somhatai Panichewa, chief executive of Amata VN.
Both Amata and the Vietnamese authorities want the new estate to serve high-tech industries, said Mrs Somhatai.
"The collaboration aims to develop dynamic, internationally-scaled industrial parks, commercial service zones and urban areas," she said.
Mrs Somhatai was speaking during the recent signing of a memorandum of understanding (MoU) between Amata VN and Bui Van Quang, chairman of the Phu Tho Provincial People's Committee.
Under the MoU, Phu Tho officials will facilitate Amata VN in gathering necessary information for the industrial complex development, streamlining administrative procedures, assisting with land clearance and resettlement, as well as promptly resolving any difficulties encountered during project implementation and operation.
Phu Tho also vows to coordinate with Amata VN on promoting and attracting secondary investment projects.
Both parties have committed to developing concrete implementation plans and continuing to explore new areas for cooperation based on mutual potential and strengths.
Amata VN said it is committed to supporting Phu Tho in enhancing its investment competitiveness to attract capable investors from Thailand and around the world.
Amata plans to study and potentially invest in key projects within the province, including industrial parks, logistics services, commerce, high-quality human resources development centres and environmental protection initiatives.
Amata VN has four industrial estate developments in Vietnam, including Amata City Bien Hoa Industrial Estate, Amata City Long Thanh Industrial Estate, Amata City Halong Industrial Estate and Quang Tri Industrial Estate.
In the first quarter of this year, the company reported revenue decreased by 19.1% year-on-year to 863 million baht attributed to Vietnam's economic slowdown, the impact of geopolitical conflicts, Washington's new tariffs and crude oil price fluctuations that affected energy costs in the country.