Feb. 23, 2017
Thang Long Industrial Park
Thang Long Industrial Park Celebrates Its 20th Anniversary
Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President & CEO: Kuniharu Nakamura) made its start in the industrial park business in Vietnam on February 22, 1997 with the establishment of Thang Long Industrial Park (hereinafter “TLIP”) and yesterday celebrated TLIP’s 20th anniversary.
On February 22, 2017 a commemorative ceremony was held in Hanoi, attended by nearly 300 guests from Japan and Vietnam who came to offer their congratulations, including Japanese Ambassador to Vietnam Kunio Umeda, Member of Politburo of the Communist Party of Vietnam, Secretary of Hanoi Party Committee Hoang Trung Hai.
In collaboration with the local government, Sumitomo Corporation has endeavored to support the operations of TLIP tenant companies by putting in place the infrastructure needed to ensure reliable supplies of electricity and industrial water and by helping these companies address employment and labor issues. TLIP now hosts more than 100 tenant companies that employ about 60,000 workers.
The Vietnamese industrial park business that started with TLIP has grown alongside the robust demand stemming from Vietnam’s economic growth. Thang Long Industrial Park Corporation II (hereinafter “TLIPII”) opened for business in Hung Yen Province in 2006; Phase I has already been sold out, Phase II should be completely sold out within the year, and rental plant floor space is being steadily increased. Thang Long Industrial Park III (hereinafter, “TLIPIII”) is expected to begin operating in Vinh Phuc Province in 2018.
Vietnam offers a stable political climate, a wealth of labor resources, and competitive labor costs, and improvements to its social and transport infrastructure, as exemplified by upgrades to Noi Bai International Airport and National Route No. 5, have garnered high praise from companies moving into Vietnam. With the number of middle-income earners growing, expectations are high of Vietnam’s future potential as a consumption market. By pursuing future industrial park projects in Vietnam to provide support for greater expansion by Japanese manufacturers, Sumitomo Corporation will contribute to job creation and economic development in Vietnam.
|◆Profile of TLIP|
|(1)||Business entity||：||Thang Long Industrial Park Corporation (commonly known as TLIP)|
|(2)||Investment ratio||：||Sumitomo Corporation Group: 58%|
|(3)||Location||：||Hanoi, Vietnam (16km north of central Hanoi)|
|(4)||Development area||：||Over 274 hectares (total for Phase I, Phase II and Phase III)|
|(5)||Number of tenant companies||：||105 companies (of which 98 are Japanese)
*As of February 2017
|(6)||Date established||：||February 22, 1997|
|◆Profile of TLIPII|
|(1)||Business entity||：||Thang Long Industrial Park II Corporation (commonly known as TLIPII)|
|(2)||Investment ratio||：||Sumitomo Corporation Group: 92%|
|(3)||Location||：||Hung Yen Province, Vietnam (22km southeast of central Hanoi)|
|(4)||Development area||：||Over 346 hectares (total for Phase I and Phase II)|
|(5)||Number of tenant companies||：||64 companies (of which 62 are Japanese)
*As of February 2017
|(6)||Date established||：||November 17, 2006|
|◆Profile of TLIPIII|
|(1)||Business entity||：||Thang Long Industrial Park (Vinh Phuc) Corporation (commonly known as TLIPIII)|
|(2)||Investment ratio||：||Sumitomo Corporation: 100%|
|(3)||Location||：||Vinh Phuc Province, Vietnam (44km north of central Hanoi)|
|(4)||Development area||：||213 hectares (planned)|
|(5)||Date established||：||November 17, 2015|