Amata signed a concession agreement with the government of Lao PDR to commence developments of AMATA Smart And Eco City Natuey in the province of Luang Namtha.
The new industrial city, built in its first phase on 410 hectares (2,562.5 rai) of land and to be developed to become an exemplary model of a modern industrial park with smart and eco features, is targeted to attract investors from around the world. Thus, enhance further economic development of Lao PDR in a sustainable manner and generate possibilities for the Lao people with employment and supportive services.
On January 11, 2022, Amata Corporation Public Company Limited (herein referred to ‘Amata’) celebrated the groundbreaking of the new Amata Smart And Eco City Natuey, Luang Namtha province, presided over by Mr. Khamlai Syphasert, Governor of Luang Namtha, Mrs. Khamchan Vongseanbound, Deputy Minister of Planning and Investment, and a group of senior officials of Luang Namtha and Udomchai districts, government and diplomatic sectors. As well as via online conference with participating guests from government sector, partners and associates and Amata’s senior management witnessing this auspicious occasion.
This milestone comes after Amata Corporation Public Company Limited, led by Mr. Vikrom Kromadit, Chairman and Acting Chief Executive Officer, signed a joint agreement with the government of Lao PDR for the first 410 hectares of land development concessions, with a potential site expansion to up to 200 square kilometers (20,000 hectares) in total. The development, to start early 2022, will be managed through Amata City Lao Sole Company Limited, a fully owned subsidiary of Amata, with an investment budget of USD 1,000 million.
“My heartfelt thanks go to Mr. Khamlai Syphasert, Governor of Luang Namtha and Mrs. Khamchan Vongseanbound, on behalf of the Ministry of Planning and Investment, and all government agencies that participate in today’s event. This achievement would not have been possible without your help and support. I confirm again that Amata will develop the cleanest, most modern, and safest industrial city in Lao following the footsteps of all our projects we have successfully developed in Thailand and Vietnam with a combined customer base of more than 1,400 tenants and residents and a working population of over 300,000 people, as of today. Our smart city development will lead to further urbanization.
All of Amata’s projects are developed within a sustainability framework and with the business philosophy of ‘All Win’, aiming to jointly-succeed and share benefits to all parties and sectors, striving for an inclusive, sustainable growth. We aim to support Lao GDP to bring you economic prosperity and sustainability, putting all our efforts in the preservation and conversation of this precious environment. Amata Smart And Eco City Natuey has the potential to serve to a wide range of international investors in a variety of industries, including logistics and warehousing, machinery, rubber and plastic products, food and beverage processing, chemicals and pharmaceuticals etc., “said Mr. Kromadit on the occasion of groundbreaking. “We are planning to invite global multi-national companies and the government sectors from China, Japan, Singapore and Thailand, such as Yokohama Industrial City or Japan External Trade Organization (JETRO) to participate in the Amata Smart And Eco City and help to publicize our new project. Amata will focus on working with these four countries and Lao PDR to develop this project to its full potential while discussing cooperation to support trade and investments and to support Lao PDR to become a competitive, attractive and modern FDI destination.”