Amata to pour US$530 mil into Vietnam
(VOV) - Amata Vietnam JSC, a subsidiary of the Thai group Amata, will earmark US$530 million for a hi-tech park and urban area complex in the southern province of Dong Nai.
Amata Vietnam JSC General Director Huynh Ngoc Phien said the company has just signed a cooperative agreement on construction of the complex with the provincial People’s Committee.
Amata Express City, expected to become Asia’s financial centre in the near future, will sit on an area of 1,285 hectares. Amata Vietnam will contribute 80.5% of total investment capital while the remainder will be sourced from the Dong Nai Industrial Park Development Corporation (Sonadezi).
The project, to be located near future Long Thanh airport, is scheduled to get off the ground in 2016 and will be completed over 10 years.
According to regional investors, there is a strong trend of financial centres shifting from Hong Kong to Bangkok or Singapore. If Vietnam keeps up with the trend, the complex will become Asia’s financial centre in the future.