Thăng Long II Industrial Park in Hưng Yên. — VNA/VNS Phạm Kiên

Sumitomo Group (Japan) will invest US$500 million to develop Thăng Long II Industrial Park (phase 4) in Hưng Yên.

In particular, the group will concentrate on growing the commercial and residential areas in Thăng Long II Industrial Park, which covers 391.7 hectares.

This industrial park is located in a favourable geographic position within Hà Nội, Hải Phòng port, and Quảng Ninh deep-water port. After three phases, it has reached a total area of 545.6 hectares thus far.

The Thăng Long II Industrial Park has attracted more than 100 international investment projects, totalling over $3 billion in registered investment capital. The investors are mostly from Japan, and among them are some sizable businesses like Kyocera, Hoya, Nippon, Daikin, Toto, and Panasonic.

By 2030, it is anticipated that industrial parks in Hưng Yên will reach 30 industrial parks with 9,540 hectares. In addition, there are 25 industrial clusters with an area of more than 1,200 hectares, and there will be 52 industrial clusters with an area of 3,000 hectares.

To date, there are 534 foreign investment projects in Hưng Yên totalling around $6.7 billion in registered investment capital. — VNS