– Savills Viet Nam facilitated a 30-year lease for Thantawan Industry’s state-of-the-art factory in Phuoc Dong Industrial Park, marking their first major investment in Viet Nam.
– This 24,436 m² facility supports Thantawan’s expansion into Southeast Asia, reinforcing Tay Ninh Province as a competitive destination for high-value industrial projects.
HCMC, Viet Nam, 31 October 2024 – Savills Viet Nam has successfully facilitated a landmark 30-year factory lease for Thantawan Industry Public Company Limited, a leading Thai manufacturer of premium plastic packaging. This agreement marks Thantawan’s inaugural investment in Viet Nam, further strengthening the nation’s position as a key player in the regional manufacturing and industrial landscape.
Photo 1: Phuoc Dong Industrial Park in Tay Ninh
Strategic Move into Viet Nam’s Growing Market
The new facility, located in Phuoc Dong Industrial Park, Tay Ninh Province, spans 43,057 m² and features a state-of-the-art factory with a gross floor area (GFA) of 24,436 m². Purpose-built for advanced virgin plastic packaging production, the facility is designed to achieve a production capacity of 9,000 tonnes annually. This project is expected to generate significant local employment opportunities while adhering to strict environmental standards.
Thantawan Industry (Viet Nam) Co., Ltd., a subsidiary of Thantawan Industry Public Company Limited, leverages more than 40 years of expertise in delivering innovative and eco-friendly packaging solutions. The investment reflects the company’s commitment to meeting rising demand across Southeast Asia while maintaining its reputation for international quality and sustainability.
Photo 2: John Campbell, Director, Industrial Services, Savills Viet Nam
“Phuoc Dong Industrial Park offers a combination of modern infrastructure, strategic connectivity, and access to skilled labour that aligns perfectly with Thantawan’s operational needs,” said John Campbell, Director and Head of Industrial Services at Savills Viet Nam. “This partnership underscores Tay Ninh Province’s growing appeal as a destination for industrial investment, particularly for companies seeking competitively priced, ready-built facilities outside of traditional hubs like Ho Chi Minh City, Binh Duong, and Dong Nai.”
Collaborative Efforts for Long-Term Success
The lease agreement was finalised in a ceremony attended by Mr Tran Manh Hung, Chairman of Saigon VRG Investment Joint Stock Company, and Ms Pojanard Prinyapatparkorn, Chairman of Thantawan Industry Co., Ltd. (Viet Nam). Both parties emphasised their shared commitment to sustainable growth and operational excellence.
Mr Tran Manh Hung remarked: “The facilities at Phuoc Dong Industrial Park have been designed to accommodate diverse industries and meet the precise technical requirements of Thantawan’s packaging plant. We are confident in the company’s potential for sustainable growth at Phuoc Dong Industrial Park and in Viet Nam. Our team remains dedicated to ensuring the project progresses smoothly and achieves stable production.”
Led by John Campbell, Director and Head of Industrial Services, and Chi Phan, Manager, Savills Viet Nam’s industrial team provided comprehensive consultancy, from property selection to lease negotiation, ensuring the successful closure of the largest factory lease in Tay Ninh Province to date. With a 30-year lease term, this transaction represents one of the longest ready-built factory leases in Viet Nam’s industrial market.
“This achievement not only marks a milestone for Thantawan Industry but also highlights the growing potential of Tay Ninh Province as an industrial destination,” added John Campbell. “We are seeing increased interest from foreign investors seeking high-quality, cost-effective facilities in emerging locations, reinforcing Savills Viet Nam’s role as a trusted adviser for industrial investments.”
