Thailand-based developer Amata Corporation Public Company Limited has signed a concession agreement with the Laos government to commence the construction of Amata Smart & Eco City Natuey, located in Luang Namtha province. A groundbreaking ceremony for the project took place on 11 January 2022.
This new industrial city development, which covers 410 ha of land in the first phase, is set to become an “exemplary model” of modern industrial park with smart and eco features, targeted at investors from around the world, according to Amata. It is also expected to enhance the economic growth of Laos in a “sustainable manner” and provide opportunities for the local people with employment and supportive services.
In its statement, Amata said the development will be managed through its fully owned subsidiary, Amata City Lao Sole Company Limited. It did not mention the construction timeline of the project, but revealed that there is a possibility for site expansion of up to 20,000 ha in total.
Speaking at the groundbreaking ceremony, Vikrom Kromadit, chairman and acting CEO of Amata shared that the plan is 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 & Eco City Natuey project.
He emphasised that Amata will focus on working with these four countries, in addition to Laos, to develop the project “to its full potential” while discussing cooperation to support trade and investments as well as to support Laos to become a “competitive, attractive and modern” FDI destination.
Amata will develop the “cleanest, most modern and safest” industrial city in Laos, highlighted Mr Kromadit, “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 [11 Jan 2022]. Our smart city development will lead to further urbanisation.”
He added that Amata Smart & Eco City Natuey has the potential to serve a wide range of international investors from various industries, including logistics and warehousing, machinery, rubber and plastic products, food and beverage processing, chemicals and pharmaceuticals, and more.
The groundbreaking ceremony was attended by Khamlai Syphasert, governor of Luang Namtha and Khamchan Vongseanbound, deputy minister of planning and investment, plus several other senior officials from Luang Namtha and Udomchai districts, and government and diplomatic sectors. Additional guests from the government sector, partners and associates and Amata’s senior management also took part in the event virtually.