South Korea-backed AMPT Vietnam to invest $5 billion in Vietnam

August 01, 2023 | 14:37
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AMPT Vietnam plans to invest $5 billion in Vietnam, particularly in Danang, for essential infrastructure and healthcare projects, with the company set to establish an office in the city soon.
South Korea-backed AMPT Vietnam to invest $5 billion in Vietnam

In a recent engagement in late July, Le Trung Chinh, Chairman of Danang People's Committee, presided over a meeting with the delegation from AMPT Vietnam JSC, led by Lee Yun Cheol, its CEO. The purpose of the visit was to investigate potential investment opportunities and foster collaboration in Danang.

Lee revealed that AMPT Vietnam International JSC was established in 2022 as a subsidiary of South Korean-based AMPT International JSC. Its core objective is to elevate living standards, enhance community health, and invest in infrastructure and business ventures in Vietnam. The company has already forged joint ventures with notable entities such as Diamond Corporation, Qlila, and The World Group.

Empowered by investment funds, the company intends to allocate approximately $5 billion in Vietnam, primarily focusing on projects with strong social welfare implications. Notably, the company is keen on establishing multidisciplinary international hospitals offering Proton therapy coupled with eco-resort facilities.

Furthermore, the company actively seeks new investment prospects and endeavours to collaborate with local companies and organisations in Vietnam for the realisation of transportation infrastructure, seaports, resorts, and agricultural processing plants.

According to Lee, AMPT Vietnam's investment strategy revolves around the construction of state-of-the-art international hospitals that prioritise advanced treatment methods. This, in turn, is anticipated to fuel the development of residential enclaves and resorts, effectively attracting affluent patients seeking medical treatment and leisure experiences.

During their comprehensive assessment of investment avenues in Vietnam, the company identified Danang as a city of immense potential and considerable allure to foreign enterprises, particularly in the thriving tourism and resort sectors.

To capitalise on these opportunities, the company is actively considering establishing an office in Danang, underscoring its commitment to thoroughly exploring viable projects with the goal of achieving efficient and successful investments in the city.

Chinh highlighted the sectors of healthcare, seaports, and new urban areas as areas of particular interest to AMPT Vietnam, aligning with the city's proactive efforts in inviting investments.

Presently, Danang is in the process of presenting its investment proposal for the shared infrastructure of the Lien Chieu Port project to the government. Upon obtaining the necessary approvals, the city will proceed with the requisite procedures for investment solicitation, adhering to legal regulations.

Concerning healthcare projects like international hospitals and nursing homes, the city is presently conducting auctions. AMPT Vietnam may express its interest by duly submitting auction documents as per stipulated guidelines. Additionally, ongoing planning and evaluation for new urban areas are slated for completion by the conclusion of 2023, paving the way for investor selection in accordance with legal provisions.

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By Nhat Minh

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