Technical infrastructure has been completed in the first phase, including wall, transport and water supply and drainage systems, among others since the industrial park’s ground-breaking in September 2017.

The 213-hectare park has drawn eight Japanese investors so far, and it is waiting for a huge wave of foreign capital. When operational, the park is expected to attract 79 Japanese investments and create jobs for around 30,000 local labourers. It prioritises projects in non-polluting industries, supporting industry, spare parts production in the auto and motorcycle sector, and precision engineering, among others.

Speaking at the inauguration ceremony, Chairman of the provincial People’s Committee Nguyen Van Tri affirmed that the TLIP III opens up a new phase in the province’s industrial development and investment attraction.

He ordered Sumitomo and the Thang Long Industrial Park (Vinh Phuc) Corporation to carry out the second phase as soon as possible. Also, he expressed his hope that the enterprises will join hands with local authorities to ensure social welfare, protect the environment, and build a strong business association in the province.

Vinh Phuc will continue support for investors from Japan, he added.

Earlier, Sumitomo built the TLIP I and II in Hanoi and Hung Yen province.