Thailand’s WHA greenlighted to speculate $55 mln in central Vietnam business park

WHA Group, a leading Thai provider of fully integrated logistics and industrial facilities solutions, has secured in-principle approval from the Vietnamese government to invest in an industrial park in central Vietnam.

WHA Smart Technology-Thanh Hoa Industrial Park will be invested by three subsidiaries of WHA Group: WHA Industrial Development 2 (SG) Pte. Ltd, WHA Industrial Management Services Vietnam Co., and WHAUP Nghe An JSC, according to a decision signed by Deputy Prime Minister Bui Thanh Son on Tuesday.

The park will cover 178.5 hectares in three communes of Hoang Hoa district, Thanh Hoa province. It will have an investment of $55 million, of which $9 million will come from the investors’ equity.

The project will have a lifespan of 50 years and construction must be finished within 36 months from the handover of the land plot, said the decision.

WHA Group boasts it has a total assets value of $4.7 billion and six listed subsidiaries. Its member companies are operating 11 industrial parks in Thailand and one in Vietnam’s central province of Nghe An.

WHA Industrial Development PLC’s principal industrial customers are automotive, petrochemical, and others.

Thai investors committed to pouring $141.42 million in Vietnam in the first 10 months of this year, positioning Thailand at the 15th spot among 106 countries and territories with FDI in the period, according to the Ministry of Planning and Investment.

As of October 31, Thailand has invested in 755 projects worth a combined $14.18 billion in Vietnam.