According to the Vietnam News Agency 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 Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee and representative of Sumitomo Corporation (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 order to attract Japanese businesses with high, modern and environmentally friendly technology.
 

Chairman of the Provincial People's Committee Tran Quoc Van and representatives of Sumitomo Corporation (Japan) exchanged 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 seaport. In 2005, Hung Yen province allowed Sumitomo Corporation and Thang Long Industrial Park Co., Ltd. to research, survey, set up projects and act as investors 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 owner to directly manage and operate the project.

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

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 hectares. 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, and at the same time carrying out the procedures for deciding investment policy in Thang Long Industrial Park II, phase 3. The dossier of decision on investment policy of Thang Long Industrial Park II project, 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; it is expected to be completed in 2021. 

He shared, when Thang Long Industrial Park II and projects attracting investment in the industrial park come into operation stably, 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.

By Thanh Tung - Pham Tuan 
(Correspondents of VNA in Japan)