Thai industrial developer Amata to target Vietnam and Laos

Amata Corporation, the largest industrial developer in Thailand, has modified its growth strategy for 2023 and is now concentrating on the rapidly developing nations of Laos and Vietnam, Nikkei Asia reported.

"For this year, we are still focused on Vietnam, while Laos is emerging as a new and interesting country that we entered last year. We will soon start developing an industrial estate there," said Viboon Kromadit, Amata's chief marketing officer

For the upcoming year, the corporation has budgeted approximately five billion baht ($144 million) in capital expenditures. Out of this, more than 50% will go toward industrial growth in Vietnam, 20% will fund initiatives in Thailand, and the remaining portion will fund a new project in Laos.

Vietnam has drawn several investors from all over the world thanks to its young, reasonably priced workforce and average economic growth of roughly 8% yearly.

Amata has been investing a large portion of its resources in land acquisition for industrial park expansion in order to fulfill rising demand, notably from labor-intensive firms that are anticipated to relocate to Vietnam.

Three industrial parks totaling 18.3 square kilometers are already under the company's control in northern and southern Vietnam. More than 200 factories are located in the parks.

Source: Nikkei Asia