Thai “Richman” Amata's ambition to expand in Vietnam

Thai Industrial conglomerate Amata Plans to Expand

in Vietnam
Amata Corporation, an industrial development Thailand, Corporation has
regulated adjusted its 2023 business expansion plan that invested will
invest/focus on mainly in Vietnam and Laos, . Nikkei Asia said.reported.

While they have it invested in Laos in 2022, they will focus primarily on
investment in Vietnam in 2023.

Amata expects to spend more than THB2.5 billion baht (72 million USD) for
investment in fixed assets in 2023. They have also promoted investment to raise
the land fund with the purpose of expanding industrial areas to meet increasing
demand.
The corporation controls operates three industrial parks with a combined area of
18.3 square meters in northern and southern Vietnam totaling nearly 17 square
kilometers. Amata-run IPs attracted With almost 200 investors who bring with
the amount of capital with a total pledged capital of more than USD $4 billion to
Amata.
With average economic growth of around 8% annually and a young, relatively
inexpensive labor force, Vietnam has attracted many investors from around the
world.
Thai Industrial Developer Amata to Focus on Vietnam 2023: Nikkei

Amata Corporation, Thailand's largest industrial developer, plans to divert

concentration to Vietnam and Laos in 2023 under its expansion plan, Nikkei Asia cited
Mr. Viboon Kromadit, Amata's chief marketing officer, as reporting.

Amata Corporation will soon start developing an industrial estate project in Vietnam,
Mr. Viboon noted.

The company plans to spend THB5 billion ($144 million) on its projects for next year,
with over 50% earmarked for industrial development in Vietnam, 20% in Thailand,
and the remainder in Laos.

With average economic growth of around 8% annually and a young, relatively

inexpensive labor force, Vietnam has attracted many foreign investors, he added.
Amata has been spending much of its capital on acquiring land to expand industrial
parks (IPs) to meet growing demand, particularly from labor-intensive industries that
are expected to relocate to Vietnam.

The company has operated three IPs totaling 18.3 square kilometers in Vietnam. The
IPs are home to over 200 factories.