Province urged to speed up Thang Long IP
Province urged to speed up Thang Long IP
Leaders of the northern province of Vinh Phuc has urged functional departments to create favourable conditions for the construction of the Thang Long-Vinh Phuc industrial park so that the project begins operations soon.
In October 2015, Vinh Phuc Province granted an investment licence to Japan’s Sumitomo Group to build infrastructure at the Thang Long-Vinh Phuc industrial park.
Covering more than 213ha in Binh Xuyen District, the park is expected to help attract 79 projects and create a breakthrough for the local industry, which is mainly driven by the auto and motorcycle sectors.
According to the Sumitomo Group, the park will attract non-polluting industries and prioritise high technology projects, such as manufacturing engine, spare parts and components for the automotive and motorcycle industries; electronic accessories; precisive mechanical products and supporting industries.
Once the project’s technical infrastructure and services are operational in late 2024, the park will generate some 25,000 jobs and contribute significantly to the State budget.
Thang Long-Vinh Phuc industrial park is the tenth among the 19 prioritised industrial parks ratified by the Prime Minister in Vinh Phuc Province by 2020.
