The decision clearly states the approval of the investment policy for the construction and infrastructure business investment project of the WHA Smart Technology – Thanh Hoa Industrial Park, along with the approval of the investors, which include three entities: WHA Industrial Development 2 (SG) Pte. Ltd., WHA Industrial Management Services Vietnam Co., Ltd., and WHAUP Nghe An JSC.
The project’s objective is to invest in the construction and infrastructure business of the industrial park. The project’s land use scale is over 178.5 hectares, located in the communes of Hoang Quy, Hoang Quy, Hoang Xuan, and Hoang Cat, Hoang Hoa District, Thanh Hoa Province.
The total investment capital is VND 1,320 billion, equivalent to 55 million USD, of which the contributed capital of the investors is VND 216 billion, equivalent to 9 million USD. The duration of the project is 50 years from the date of approval of the investment policy and the selection of investors.
The timeline for project implementation is 36 months from the date the economic organization established by the investors receives the land handover from the State. The investors are responsible for the legality, accuracy, and truthfulness of the project dossier and documents sent to the competent state agency.
They are also responsible for establishing an economic organization to implement the project, ensuring that capital contributions are made on time and in accordance with the Law on Enterprises and other relevant regulations. The investors must also comply with land and real estate business laws and other related legal provisions in implementing the project as per this decision. Additionally, they are responsible for completing the environmental protection procedures in accordance with the Law on Environmental Protection and its guiding documents.
Who are the investors?
WHA Industrial Development 2 (SG) Pte. Ltd. is a member of the WHA Group, a leading developer of logistics and industrial utility solutions in Thailand. WHA Industrial Development was formerly known as Hemaraj Land And Development Public Company Limited and is now a subsidiary of the WHA Group. The company provides infrastructure, auxiliary systems, industrial clusters, and sustainable services. In Vietnam, the WHA Group has its main operating office in Nghe An and another office in Hanoi.
WHA Industrial Management Services Vietnam Co., Ltd., established in 2017 and headquartered in Hanoi, is a foreign-owned enterprise with an initial capital of 250,000 USD. The company is owned by H – International (SG) Pte. Ltd., a Singapore-based company, but the capital is authorized to four Thai individuals. The current Chairman of the Board of Members is Ms. Jareeporn Jarukornsakul (Thai nationality), and the General Director is Ms. Nguyen Thi Bich Lien.
 Leadership of WHA Industrial Zone Nghe An JSC.
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WHAUP Nghe An JSC, established in 2018 and headquartered in Nghe An Province, is also a 100% foreign-owned enterprise. Earlier this year, the company increased its charter capital from VND 38.3 billion to VND 60.3 billion. WHAUP (SG) 2 Pte. Ltd. holds 99.99% of the capital, while the remaining is owned by WHA Industrial Zone Nghe An JSC and Ms. Jareeporn Jarukornsakul (Chairman of the Board of Directors and legal representative).
Thu Minh
The Thai Takeover: A Thanh Hoa Industrial Zone Changes Hands
Vice Prime Minister Bui Thanh Son has approved the investment policy for the construction and infrastructure business of the WHA Smart Technology – Thanh Hoa Industrial Park project, as per Decision No. 1431/QD-TTg, dated November 19, 2024.
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