WHA GROUP, a provider of logistics and industrial-facilities solutions, has attained approval from Vietnamese authorities to establish WHA Hemaraj Cienco 4 Joint Stock Company, a joint venture between its subsidiary WHA Hemaraj Land and Development and Civil Engineering Construction Corporation No 4 Joint Stock Company.
It develops the first phase of WHA Hemaraj Industrial Zone within the Dong Nam Economic Zone, Nghe An province.
Dr Somyos Anantaprayoon, chairman of the board of directors on behalf of WHA Corp and Hemaraj Land and Development, gave a brief overview of WHA Hemaraj’s investment in Vietnam during a meeting presided over by Vietnamese Prime Minister Nguyen Xuan Phuc in Vinh, capital of Nghe An province.
WHA Hemaraj Industrial Zone in Nghe An will comprise both an integrated industrial zone and, later on, high-tech, commercial, and township development with a lease term of up to 70 years. The first developed industrial land with utilities will be available for rent from late this year.
Jareeporn Jarukornsakul, WHA Group chief executive officer, said Vietnam had been attracting foreign investors as it is becoming an important industrial and manufacturing base in Asean.
David Nardone, Hemaraj Land and Development group executive (industrial and international), said Vietnam’s economic outlook was very promising, with strong and resilient growth supported by high manufacturing competitiveness.
“Because of Vietnam’s strategic location as a gateway to major markets such as China, South Korea and Japan, we are excited to establish this first direct presence,” he said.
Located 290 kilometres south of Hanoi, Nghe An is the largest among the 63 provinces in Vietnam, with a population of 3.2 million, a workforce of 1.9 million and 17 universities.
WHA Hemaraj Industrial Zone, in Dong Nam Economic Zone, is well located in terms of infrastructure. It is next to Highway 1A and the railway that connects Hanoi to Ho Chi Minh City, 10km away from Vinh International Airport and in the vicinity of four seaports, including three deep-sea ports under construction or in the planning stage.