Japanese corporation to construct $135m IP in Vinh Phuc

Friday, Oct 23, 2015 17:27

Vinh Phuc Party Committee Secretary Hoang Thi Thuy Lan granted registration certificate of the Thang Long Vinh Phuc Industrial Park to Japanese Corporation Sumitomo. — Photo vinhphuc.gov.vn

VINH PHUC (Biz Hub) — Japan's Sumitomo Corporation has been granted permission to build an industrial park worth US$135 million in the northern province of Vinh Phuc, following an investment registration certificate that was granted by the provincial committee on Thursday.

The project is the third Thang Long Industrial Park built by Sumitomo, with the others located in Ha Noi and the northern province of Hung Yen.

The latest Thang Long Industrial Park in Binh Xuyen District will cover an area of 213 hectares and consist of two phases. The first phase of the project has an area of 94.5 hectares with total investment of VND1.5 trillion ($67.3 million).

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

Speaking at the official ceremony, Vinh Phuc Party Committee Secretary Hoang Thi Thuy Lan said the project would create a new image of industrial development for Vinh Phuc Province.

She also asked related agencies to create the best conditions for Sumitomo to implement the project.— VNS

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