Amata VN awaits approval for new industrial land

SET-listed Amata VN, an industrial estate developer in Vietnam, expects the Vietnamese government to approve the development of 3,100 rai of new industrial land in October, paving the way for further growth of its business there.

- LAMONPHET APISITNIRAN

The company previously announced plans to build a new industrial estate in Phu Tho province in northern Vietnam to serve high-tech investment, especially for semiconductors.

“Investors are interested in expanding their businesses into Vietnam or new investment ventures there because of high GDP growth in the nation of 8-9% a year on average,” said chief executive Somhatai Panichewa.

Recent talks between Amata VN and Phu Tho authorities resulted in progress, with officials promising to speed up the process of developing a new industrial estate in Phu Tho, she said.