Thailand’s Amata Group and Vietnam’s Tuan Chau Group will team up to build a high-tech urban complex in Ha Long city.
The complex, to sit on 16,00ha in Quang Yen village, Uong Bi district, will include a high-tech park, a free trade area, and research units to develop high added value products, as well as educational facilities and urban areas.
The first phase of the project will be built on 500ha at a cost of US$1.5-2 billion. Construction work will begin in December 2013, with the first factory scheduled to be put into operation in late 2014.
The Amata Group has been investing in Vietnam since 1994 and is considered one of the six strategic investors in Quang Ninh, along with Vingroup (Vietnam), Texhong (China), and SE and the Yazaki Company from Japan.
Vingroup previously proposed building hotels and entertainment areas worth nearly US$45 million on Reu Island in Bai Chay ward, Ha Long city, and the Vietnamese Charmvit Group also plans to build a golf course on Hung Thang Hill in Ha Long.
Quang Ninh provincial leaders say that choosing strategic investors is an important step towards restructuring the province’s economy with a focus on developing industry, services and tourism.