According to Vinh Phuc newspaper, Sumitomo Corporation wishes to continue investing in building infrastructure for the second industrial park in this province after Thang Long Vinh Phuc Industrial Park.
This is a proposal made by the Japanese corporation after a working session with the Vinh Phuc Provincial People's Committee on the implementation of investment projects in the province.
Previously in 2015, the Japanese "giant" implemented the first project, Thang Long Vinh Phuc Industrial Park in Thien Ke and Tam Hop communes (Binh Xuyen), with a total registered capital of more than 2,000 billion VND, a land use scale of 213 hectares, of which industrial land is 170.4 hectares, and the area of green trees and water surface of the Industrial Park is 21.3 hectares.
Currently, the Industrial Park has come into operation and attracted 47 investment projects, including 37 FDI projects with a total registered capital of 1 billion USD and 10 DDI projects with a total registered capital of 200 million USD. The Industrial Park has synchronous infrastructure which includes a centralized wastewater treatment plant implemented in phase 1 with a capacity of 3,000m3/day and night; guaranteed and stable electricity infrastructure and water supply; a completed traffic infrastructure which connects around the Industrial Park.
At the meeting, Mr. Takashi Yanai – the member of the Executive Board of Sumitomo Corporation – proposed that the Vinh Phuc Provincial People's Committee continue to support the enterprise in implementing investment regulations as well as finding high-quality labor sources. In addition, Sumitomo’s representative said that the enterprise wishes to continue investing in building infrastructure for the second industrial park in Vinh Phuc.
In response to this proposal, Chairman of the Vinh Phuc Provincial People's Committee Tran Duy Dong agreed in principle and assigned the Vinh Phuc Industrial Park Management Board to coordinate with relevant units to study and support the enterprise in finding suitable locations following the province's planning, ensuring implementation of investment procedures according to regulations. At the same time, the Chairman highly appreciated the investment results of Sumitomo Corporation in Vinh Phuc, hoping that investors would continue to research and expand the scale of investment in the province, and at the same time, suggested the enterprise coordinate with the Provincial Investment Promotion and Enterprise Support Center to organize activities to connect and attract Japanese investors to Vinh Phuc.
Sumitomo Corporation, which was established in 1919, is one of the leading trade and investment corporations in Japan. With equity capital of about 26.6 billion USD and a network of more than 883 affiliated subsidiaries, the corporation operates in many fields such as metal products, transportation, construction, infrastructure, communications, digital, real estate, mineral resources, energy, chemicals and electronics.
In Vietnam, Sumitomo began operating in 1955. Currently, the group has invested in building three industrial parks in Vietnam, including: Thang Long Industrial Park (in Hanoi), Thang Long II Industrial Park (in Hung Yen), Thang Long Industrial Park (in Vinh Phuc) with a scale of over 1,012 hectares and a total investment of 404.1 million USD.
In addition, Sumitomo cooperated with BRG Group to invest nearly 4.2 billion USD to develop the North Hanoi Smart City project, with the highlight being the 108-storey financial center tower.
Recently, on November 18, 2024, Sumitomo Corporation signed a strategic cooperation agreement with CNCTech Group of Vietnam. The goal of this cooperation is to develop green, smart urban and industrial park projects, meeting the demand for high-quality living and working spaces, while promoting sustainable development in Vietnam.