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Thai developer signs MoU for building two industrial estates in Vietnam

Dec 25. 2020David Nardone, group executive industrial and international as well as vice-chairman of WHA Corporation

By The Nation

WHA Industrial Development, a leading developer of industrial estates in Thailand and Vietnam, has signed a memorandum of understanding (MoU) with Thanh Hoa provincial authorities to develop to industrial zones in the province.

The first project, called the WHA Smart Technology Industrial Zone – Thanh Hoa, will cover approximately 600 hectares and an additional 30 to 50 hectares devoted to homes.

The second project, WHA Northern Industrial Zone – Thanh Hoa, will cover a gross area of about 540 hectares and will target downstream industries such as plastics, rubber, chemical and bio-chemical products, metal fabrication and foundries to name a few.

Both parties will immediately commence the necessary process for obtaining licences and approvals, with construction expected to commence in 2023 and 2022, respectively.

With a population of 3.6 million people, including a labour force of 2.3 million, Thanh Hoa, located in the north central region, is Vietnam’s third largest province. Its proximity with the capital Hanoi and the city of Haiphong is beneficial in terms of connectivity, logistics, infrastructure and access to the Hanoi International Airport and Lach Huyen Deep Sea Port.

David Nardone, group executive industrial and international as well as vice-chairman of WHA Corporation, said: “This WHA Thanh Hoa PPC MoU will reinforce our presence and growth strategy in Vietnam. The two WHA projects present location advantages to target specific market opportunities.”

The first project, 12km from the province’s main city and with its educated workforce, will capture demand from high-value technology companies.

The second project, located near the well-established Nghi Son petrochemical complex, will further enable the integration of petrochemical and metal supply chains, he said.