Hung Yen province cooperates with Sumitomo Group to expand Thang Long Industrial Park II

Published on 26 - 11 - 2021
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According to the Vietnam News Agency's correspondent in Tokyo, within the framework of the official visit to Japan by Prime Minister Pham Minh Chinh, on November 25, Mr. Tran Quoc Van, Deputy Party Secretary, Chairman of the Provincial People's Committee and representative of Sumitomo Group (Japan) exchanged a Memorandum of Understanding on cooperation in promoting the expansion of Thang Long Industrial Park II (Phase 3) project. This is an important milestone that opens up opportunities for Hung Yen to continue to expand its industrial park in the province, in order to attract Japanese businesses with high, modern and environmentally friendly technology.

Mr. Tran Quoc Van, Deputy Party Secretary, Chairman of the Provincial People's Committee and representative of Sumitomo Group (Japan) exchange a memorandum of understanding on cooperation in promoting the expansion of Thang Long Industrial Park II project (phase 3).

Located in the north of Hung Yen province, Thang Long Industrial Park II has a quite favorable geographical position that it is only about 30km from Hanoi capital, about 70km from Hai Phong port and about 110km from Quang Ninh deep-water port. In 2005, Hung Yen province allowed Sumitomo Group and Thang Long Industrial Park Co., Ltd. to study, survey, set up projects and act as the investor in building and trading infrastructure of Thang Long Industrial Park II with an area of 219.6 ha . After that, the joint venture parties agreed to establish Thang Long Industrial Park II Company Limited as the investor to directly manage and operate the project.

After two investment phases, up to now, the investor has synchronously completed the construction of technical infrastructure of the industrial park on an area of ​​345.2 ha and the industrial park is an attractive destination for many Japanese investors. So far, Thang Long Industrial Park II has attracted 105 foreign-invested projects, with a total registered investment capital of nearly 2.95 billion USD. The total area of ​​industrial land for lease is 247 ha, reaching the occupancy rate of about 95.4%, of which 100 projects have been put into production and business operations, with a total investment capital of about 2.4 billion USD, creating jobs for about 25,000 employees and contributing about 900 billion VND to the 2020 budget.

Chairman of the Provincial People's Committee Tran Quoc Van said that, in order to receive more investors, in December 2020, the Prime Minister agreed to expand Thang Long Industrial Park II in phase 3 with an additional area of ​​180.5 ha. On that basis, Thang Long Industrial Park II Co., Ltd. has completed the procedures for making, submitting for appraisal and approval the industrial park construction planning, at the same time carrying out the procedures for deciding investment policy in Thang Long Industrial Park II project at phase 3. The dossier for the decision on investment policy of Thang Long Industrial Park II project at phase 3 has been appraised by ministries and branches and the Ministry of Planning and Investment is synthesizing to report to the Prime Minister for consideration and decision; which is expected to be completed in 2021.

Chairman of the People's Committee of Hung Yen province shared, when Thang Long Industrial Park II and projects attracting investment in the industrial park come into stable operation, it will create a driving force in attracting investment and industrial development of the province; at the same time promoting the development of service industries and supporting industries. Along with that, this project will create more jobs directly and indirectly for local workers and contribute to State budget revenue.

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