Oct. 28, 2016
Thang Long Industrial Park II
Conclusion of Memorandum on Industrial Park in Vietnam between Hung Yen Province and Sumitomo Corporation
Sumitomo Corporation (head office: Chuo-ku, Tokyo; President & CEO: Kuniharu Nakamura) and Thang Long Industrial Park II (hereinafter, “TLIP II”), developed and operated by Sumitomo Corporation, have signed a memorandum on October 27 with Hung Yen Province (Vietnam) regarding the establishment of a “Hung Yen Province Japan Desk.”
TLIP II opened for business in Hung Yen Province near Hanoi in 2006, and it presently has 59 tenant companies. Approximately half of these tenant companies are small and medium-sized Japanese firms, and many represent their companies’ first ventures overseas. To assist in the expansion of small and medium-sized Japanese firms, TLIP II has concluded agreements with local governments in Japan – those of Kanagawa Prefecture, Hyogo Prefecture, and Hamamatsu City – on providing exemptions from the first year’s management fees and other support.
As a new approach, Sumitomo Corporation will be working with Hung Yen Province to set up a “Hung Yen Province Japan Desk” inside TLIP II that will serve as a liaison point for Japanese companies considering expansion into Hung Yen Province. This Japan Desk will work in cooperation with relevant ministries/agencies and other authorities to help in fast-tracking investment applications and company establishment and certifying supporting industries.
Sumitomo Corporation will also meet the needs of small and medium-sized Japanese companies aiming to expand into Vietnam by increasing the rental plant space made available to hold down initial costs for incoming companies from the present 30,000m2 to about 60,000m2 within the next few years in response to growing demand.
Sumitomo Corporation and Hung Yen Province will continue collaborating and cooperating to boost further forays by small and medium-sized Japanese companies into Vietnam and thereby help create jobs and develop Vietnamese industry.
(Profile of TLIP II)
|(1)||Business entity||：||Thang Long Industrial Park II Corporation
(commonly known as “TLIP II”)
|(2)||Investment ratio||：||Sumitomo Corporation Group: 92%|
|(3)||Location||：||Hung Yen Province, Vietnam
(33km southeast of central Hanoi)
|(4)||Developed area||：||Over 346 hectares (combined total of Phase I and Phase II)|
|(5)||Number of tenant companies||：||59 companies (of which 57 are Japanese companies) *as of October 2016|
|(6)||Date established||：||November 2006|
Exterior of rental factory
Exterior of TLIP II