Thai Conglomerate Plans to Invest in 1,200 ha Industrial Zone in Vung Tau
Tapping into the vast potential for development in Vietnam, Thai conglomerate WHA has proposed an investment in Chau Duc Industrial Zone, which is set to become the second largest development in Vung Tau.
A Promising Investment Opportunity
WHA Thailand presented this proposal during a meeting with the People’s Committee of Ba Ria-Vung Tau province in early March. With a focus on Chau Duc district, the conglomerate aims to explore investment opportunities in the industrial, residential, and service sectors.
Một góc huyện Châu Đức, Vũng Tàu, Bà Rịa – Vũng Tàu. Ảnh: Cổng thông tin Bà Rịa – Vũng Tàu
Chau Duc’s Development Potential
Bà Jareeporn Jarukornsakul, Chairperson of the Board and CEO of WHA, expressed confidence in the growth potential of Chau Duc district. The province’s approved development plan for 2021-2030, with a vision reaching to 2050, includes the establishment of a 4,200 ha industrial zone in this area.
Based on this plan, WHA proposes to study and invest in the Chau Duc Industrial, Residential, and Service Zone, covering an area of 1,200 ha. If successfully implemented, this project will become the second largest in Vung Tau, following the Chau Duc Industrial Zone, which spans over 1,500 ha.
The Province’s Support
Nguyen Van Tho, Chairman of the People’s Committee of Ba Ria-Vung Tau province, affirmed that the province is actively attracting investors to develop infrastructure in Chau Duc district, covering an area of 4,200 ha. The province will create favorable conditions for investors, including WHA, to participate in these projects.
WHA’s Investment Strategy
WHA has been present in Vietnam since 2017, starting with its first project in Nghi Loc district, Nghe An province, covering nearly 1,900 ha. In recent times, the company has consistently proposed investments in industrial zone projects spanning hundreds of hectares in Thanh Hoa and Quang Nam provinces.
The conglomerate aims to invest at least $1 billion over the next five years to develop eco-friendly and smart industrial zones in Vietnam. WHA is also targeting the successful attraction of secondary projects with a total investment capital of over $5 billion.
Chau Duc’s Strategic Vision
Under the 2021-2030 development plan, Chau Duc district is envisioned as a hub for agricultural, industrial, and service development, with a focus on establishing regional logistics centers. The district will concentrate on developing industry and services along the western side of National Highway 56, connecting to Phu My town and Dong Nai province.
Investing in the Chau Duc Industrial Zone will not only contribute to the economic growth of Vung Tau but also create employment opportunities and boost the overall development of the region.
This article was written by an expert in finance and economics for Business Today. For more information about this and other business news, visit Business Today.