Đà Nẵng green-lights US$105 million Thai development deal

Đà Nẵng green-lights US$105 million Thai development deal

The central city has approved WHA Industrial Development International's investor status in a project set to begin construction as early as 2027

A newly-built industrial park in south of Đà Nẵng. — Photo courtesy of Thaco Group

The central city has approved an investment proposal from Thailand’s WHA Group to develop infrastructure for the 400-hectare WHA Đà Nẵng Industrial Park project on two communes of Thăng Bình and Đồng Dương, with an investment of more than VNĐ2.7 trillion (US$105 million).

The city said it approved WHA Industrial Development International's status as an investor in the project, which is scheduled to be implemented between 2027 and 2034.

The investor plans to begin the first phase, covering 200 hectares, in the fourth quarter of 2027 and complete it by the fourth quarter of 2030 before starting the second phase in 2031.

The project marks a significant step in the Thai firm's expansion plans as it aims to invest at least $1 billion in Việt Nam's industrial property sector over the next five years to develop eco-industrial and smart industrial parks.

Earlier this year, Đà Nẵng also approved an investment proposal from Việt Nam-Singapore Industrial Park (VSIP) to develop an Industrial Park in Điện Bàn Bắc Ward, with a total investment of $138.15 million.

The city has also begun construction on Hòa Ninh Industrial Park, a project worth VNĐ6.2 trillion.

A newly-built industrial park in south of Đà Nẵng. — Photo courtesy of Thaco Group

The Đà Nẵng Special Economic Zone Authority (DSEZA) reported that it had attracted three investors to four functional areas of the Đà Nẵng Free Trade Zone, with total investment exceeding VNĐ15 trillion.

Local industrial park developer Sài Gòn-Đà Nẵng Investment Joint Stock Corporation (SDN) said it started construction of the second functional area of the Đà Nẵng Free Trade Zone (FTZ2), also known as Eagle FTZ, cover 75 hectares with an investment of around VNĐ1.6 trillion.

Two other investors – Phương Trang Group and Thanh Bình Phú Mỹ Joint Stock Company – had been granted investment licences to develop the third and fourth functional areas (FTZ3 and FTZ4).

Đà Nẵng has attracted more than 1,000 projects with a total investment of $4.35 billion, of which $3.55 billion was invested in six industrial parks, the Hi-Tech Park and the IT Park. 

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