"Amata" has pinpointed its investment to create the Amata Smart & Eco City in Laos. Following the government's signing of a contract approving the concession to develop land in the targeted area of Nateuy, Namtha Province, the first phase covering 410 hectares has been successfully completed. The company is now moving forward to seek Thai and foreign partners to build this environmentally friendly industrial city, aiming to attract investors from around the world and confident it will boost Laos' GDP by $5 billion, promoting long-term economic growth and increasing income from formal employment.

            Amata Corporation Public Company Limited held a groundbreaking ceremony to commence the development of the Amata Smart & Eco City in Nateuy, Luang Namtha Province, with the honor of having Mr. Kamhae Sriprasert, the governor of Luang Namtha, presiding over the ceremony, alongside senior executives from Luang Namtha and Udomxay provinces in Laos.

 

Mr. Vikrom Kromadit, Chairman of Amata Corporation Public Company Limited revealed that Amata has received approval for a land development concession of 410 hectares (2,562.5 acres) from the Laos government, having signed a mutual agreement. This investment marks a significant step for Amata in launching its first development project in Laos, aimed at creating the Amata Smart & Eco City in Nateuy, with an overall investment target of 200 square kilometers in Laos.

With a budget of $1 billion, managed by Amata City Lao Sole Company Limited, which is 100% owned by Amata, development is set to begin in 2022, focusing on sustainable, environmentally friendly industrial investments with a zero waste discharge policy. This initiative will play a crucial role in job creation and revenue generation for Laos, with expectations to attract investors by 2022.

"Amata will continue to develop the cleanest, most modern, and safest industrial city in Laos, leveraging its existing factories in Thailand and Vietnam, which number around 1,400, employing over 300,000 people and contributing a GDP of $60 billion. We aim to invite existing factories from various regions in Thailand and Vietnam to invest in the Amata Smart & Eco City to foster economic growth and long-term sustainability, targeting industries such as warehousing, logistics, machinery, transportation, rubber products, plastics, food and beverage processing, chemicals, and pharmaceuticals (FMCG), among others."

 

 

          The development of the Smart City will lead to a low-carbon city in the long term, aligning with global trends, focusing on sustainable industrial development that complements Amata's Smart City policy and emphasizes benefits across all sectors and dimensions—economic, social, and environmental—based on the All Win principle. This project is expected to increase Laos' GDP by $5 billion.

           To raise awareness of this project and facilitate future investment expansion, Amata plans to invite various global companies, including government sectors from Japan, Thailand, and China, to participate in the development of the Amata Smart & Eco City through collaboration with the Yokohama Industrial City and JETRO to promote the project and attract investors from Japan to Laos and the Amata project in Laos.

"We focus on collaboration with partners from five countries, including Laos, Thailand, China, Japan, and Singapore, to develop this project in various aspects. We are currently discussing cooperation strategies to enhance trade and investment between Thailand and Laos through the Amata Smart & Eco City. We have already signed memorandums of understanding with various financial institutions from Thailand, Laos, and other countries that are ready to support financing," Mr. Vikrom stated.