Business

Japanese company to build industrial park in Vinh Phuc

Japan’s Sumitomo Corporation will build an industrial park in northern Vinh Phuc province, as said in a memorandum of understanding it signed with the provincial People’s Committee on May 29.
Japan’s Sumitomo Corporation will build an industrial park in northernVinh Phuc province, as said in a memorandum of understanding it signedwith the provincial People’s Committee on May 29.

The industrial park, named Thang Long 3, covers nearly 300 hectares inBinh Xuyen district and has an initially investment of 135 million USD.

When operational, it is set to attract over 80Japanese businesses manufacturing automobile and motorcycle components,high-tech and other products for support industries, providing 40,000jobs for local residents.

Chairman of the Vinh PhucPeople’s Committee Phung Quang Hung said Sumitomo’s construction willcreate a prerequisite for the sustainable development and a breakthroughfor local industrial activities.

The Japanesecorporation have also invested in the industrial parks of Thang Long 1in Hanoi and Thang Long 2 in nearby Hung Yen province.-VNA
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