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| Japan's Sumitomo Corporation will build an industrial park in Vinh Phuc Province following a memorandum of understanding it signed with the provincial People's Committee on Friday. — Photo baovinhphuc |
HA NOI (Biz Hub) — Japan's Sumitomo Corporation will build an industrial park in Vinh Phuc Province following a memorandum of understanding it signed with the provincial People's Committee on Friday.
The industrial park, named Thang Long 3, will cover nearly 300 hectares in Binh Xuyen District, with an initially investment of $135 million. When operational, it is set to attract over 80 Japanese businesses manufacturing automobile and motorcycle components, and high-tech and other products for support industries, creating 40,000 jobs for local residents. — VNS