TLIP III covers more than 213 hectares in Thien Ke and Tam Hop communes of Binh Xuyen district. It is expected to generate jobs for thousands of labourers.
The park is calling for projects on non-polluting industries, prioritising high-tech projects, support industry, spare parts production in service of the auto and motorcycle sector, and precision engineering, among others.
In his remarks, Deputy Prime Minister Trinh Dinh Dung noted his hope that Sumitomo will build TLIP III into a model in terms of infrastructure and environment in Vietnam in general and Vinh Phuc in particular.
He called on Sumitomo, with its prestige, will continue to work as a bridge for other Japanese businesses to invest in Vietnam.
Dung also asked competent agencies and all-level authorities in Vinh Phuc to create the best possible conditions for investors, especially Sumitomo, and TLIP III, noting that Japanese businesses have contributed to creating breakthroughs in Vinh Phuc and other Vietnamese cities and provinces.
On October 22, 2015, Vinh Phuc licensed a project to develop infrastructure in TLIP III, which is the tenth out of 19 industrial parks ratified by the Prime Minister to be built by 2020.
The province is expected to attract 79 Japanese projects after TLIP III is put into service.
Sumitomo built TLIP I and II in Hanoi and the northern province of Hung Yen.