Amata eyes Myanmar project after 20 years of success in Vietnam

Real Estate December 22, 2015 01:00

By SASITHORN ONGDEE
THE NATION

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AMATA CORPORATION aims to expand its presence in Asean to the west of Thailand



“We are considering developing an industrial-estate project in a small town in Myanmar next to Kanchanaburi, west of Thailand,” said Somhathai Panichewa, chief executive officer of Amata VN.
She added that the details of its plan should materialise in April after the political situation in Myanmar is stable. If it is feasible, the group will invest via another of its subsidiaries registered in Singapore. 
Amata Vietnam last weekend celebrated its 20th year of operating in that country, having brought investors from 21 countries to Amata City Bien Hoa located in southern Vietnam. 
Amata City Bien Hoa started in 1995 as the first foreign-based company to invest in industrial estates in Vietnam. The project has brought in a total of US$2.34 billion (Bt84.5 billion) in investments, mostly from the consumer-goods sector including such companies as Nestle, PepsiCo, Toshiba, Shiseido, Kao and Ritek. 
Amata Vietnam is a joint venture between Amata Corp and Sonadezi Bien Hoa, a state-owned developer of industrial estates in Dong Nai province, northeast of Ho Chi Minh City, for development of a 700-hectare industrial park in Bien Hao.
With the presence of 145 factories generating more than Bt84 billion worth of investment, Amata plans to sell the remaining 20 per cent of land in Amata City Bien Hoa by 2019. 
Moreover, the company plans to invest in a new 1,285-hectare estate in Long Thanh City, which is expected to start development next year and be available for sales in 2017. 
The area will be divided into three different projects. First, Amata City Long Thanh, which spans 410 hectares, will be developed as a high-tech industrial park, aiming at industries that are environmentally friendly and high-value-added. The project has been granted a permit by the Vietnamese government.
The other two projects waiting for permits from the government are Amata Service City Long Thanh, situated on 122 hectares, and Amata Township Long Thanh, on 753 hectares. 
“The investment is estimated at about Bt23 billion for a 10-year period,” Somhathai said.
Amata VN also plans to develop a high-tech industrial park in Quang Ninh, northern Vietnam, called Amata City Halong, covering 5,789 hectares with investment of about $1.6 billion.
“The project is expected to be developed after 2017,” said Somhathai, adding that the park would focus on attracting investors who in such fields as automated technology, biotechnology, info-technology and electronics.
“Vietnam is part of the Asean Economic Community, Asia-Pacific Economic Cooperation and the Trans-Pacific Partnership and at the same time is enjoying the European Union’s GSP [Generalised System of Preferences], all of which are beneficial to investors who wish to use Vietnam as an export base,” she said.
She added that compared with the other countries in the so-called CLMV grouping (also including Cambodia, Laos and Myanmar), Vietnam was outstanding in the eyes of foreign investors. Its government has opened the country up to foreign investment and is still in need of investment to develop basic infrastructure.
 

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