In 2015, Sumitomo Corporation of Japan decided to invest over U.S.$135 million in infrastructure construction in 213-ha Thang Long Vinh Phuc Industrial Park in Thien Ke and Tam Hop communes, Binh Xuyen district, Vinh Phuc province. At present, Thang Long Vinh Phuc Industrial Park has become an example of infrastructure quality, environment and behavioral culture and created breakthroughs in local attraction investment.
CNC Tech Group in Thang Long Vinh Phuc IP
Construction commenced on September 21, 2017 and completed the first phase on November 8, 2018. After a short time, Thang Long Vinh Phuc Industrial Park drew 11 Japanese investors with a total registered fund of US$200 million. To date, Thang Long Vinh Phuc Industrial Park has completed the third phase of construction, built five factories for lease and attracted 42 projects (nine domestic projects with over VND1,200 billion and 33 foreign-invested FDI projects with over US$953 million). Tenants are hiring 97% of rentable land and employing about 7,000 workers.
Mr. Satoru Wachi, Deputy General Director of Thang Long Vinh Phuc Industrial Park Co., Ltd, said: The government of Vinh Phuc province and central and local agencies have eagerly supported us to carry out our projects. Sumitomo deployed Thang Long I Industrial Park in 1997 in Hanoi and Thang Long II in 2006 in Hung Yen province and received great help from local authorities for both. The support of Vinh Phuc province was much stronger if compared. All procedures were very easy and support commitments were implemented quickly. The Secretary of the Provincial Party Committee, the Chairman of the Provincial People's Committee, agency leaders and Binh Xuyen district always encouraged and facilitated us. The people of Tam Hop and Thien Ke communes also understood and supported us a lot during the construction process. We believe that customers of Thang Long Vinh Phuc Industrial Park will also receive the same care and help.
Besides, Vinh Phuc province has a flexible tax policy and many other incentives for investors. Traffic infrastructure and technical infrastructure around the industrial parks are very well-connected. Furthermore, Vinh Phuc has shifted to attract big foreign investors and projects with strong financial competence, and environment-friendly advanced technologies.
To be a vivid example in the province, Thang Long Vinh Phuc Industrial Park will continue to focus on attracting IT, automobile and other investors with high-tech chains to enhance the magnetism of the locality to investors and boost local economic development.
By Ngo San, Vietnam Business Forum
Vietnamese
