Industrial Park at Vinh Phuc Province moves forward
(VOV) - On October 22, the Japan Sumitomo Group got the green light from the Vinh Phuc provincial People’s Committee to proceed with construction of the Thang Long III Industrial Park.
“After more than 30 months of conducting surveys, the Sumitomo Group decided to go forward with the proposed IP to be located at the Binh Xuyen District in Vinh Phuc Province,” said a company spokesperson.
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Construction of the IP’s technical infrastructure is expected to be completed by December 2024. It will give priority to hi-tech projects such as engine manufacturing, support industry, electronic component and precise engineering.
Once fully operational, the Thang Long III IP is expected to attract about 79 businesses with investment of US$1.5 billion, generating 25,000 good paying jobs for local people.