Japanese Sumitomo Corporation’s subsidiary, Thang Long Thanh Hoa Industrial Park Co., Ltd., broke ground on the first phase of the Thang Long Thanh Hoa Industrial Park in Thanh Hoa Province, central Vietnam, on March 11.
The project covers 167 hectares and has a total investment of more than VND2.9 trillion ($110 million).
The industrial park will be developed under a modern model designed to attract supporting industry and high-tech projects, particularly from Japanese investors, marking an important step in attracting foreign direct investment (FDI) and further strengthening cooperation between Vietnam and Japan.
Established in 1919, Sumitomo Corporation is one of Japan’s largest diversified trading and investment conglomerates. The group operates globally in sectors including industrial infrastructure, energy and metro systems, with 131 offices across 66 countries.
In Vietnam, the group has invested in several industrial parks in northern provinces, three of which are already operational. The Thang Long Thanh Hoa Industrial Park is the fourth project launched by the company in the country.
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