Sumitomo explores investment in Thanh Hoa province
Sumitomo explores investment in Thanh Hoa province
Sumitomo Corporation, a Japanese conglomerate, visited Thanh Hoa province on June 28 to sign an MoU with the centrl province's people's committee. The agreement focuses on researching and investing in the construction and operation of industrial infrastructure in the western area of Thanh Hoa city, including a logistics centre and urban development surrounding the industrial zone.
Thanh Hoa has pledged to provide favourable conditions for Sumitomo Corporation's investment endeavours. The province's leaders have urged the corporation to swiftly conduct research and investment promotion, aiming to realise the construction and operation of the proposed project.
Representing Sumitomo Corporation, Takashi Yanai, member of the Board and general manager of the Infrastructure Business Division, expressed gratitude to Thanh Hoa leaders for their collaboration. He acknowledged the province's robust socioeconomic development, favourable geographical location, and population.
Yanai emphasised Sumitomo Corporation's commitment to creating a clean and prosperous living environment through the project.
He thanked the province for their assistance and expressed hope that the endeavour would commemorate the 50th anniversary of Japan-Vietnam diplomatic relations.
Yanai assured that Sumitomo Corporation would adhere to legal regulations, expedite research progress, and sought Thanh Hoa province's support throughout the project's implementation.
An MoU aims to enhance cooperation, draw foreign investment, create jobs, and contribute to the province's development has been inked between two sides.
Particularly, Sumitomo Corporation has shown interest in an industrial zone, covering 650 hectares, the logistics centre, and urban development spanning 168.5ha.
The project, with a capital of over $400 million, is slated for implementation between 2024 and 2025.
Sumitomo's subsidiary is researching infrastructure investment in the technology-industry-service zone, spanning 1,200ha, with a focus on clean industries and advanced technologies. Success may draw additional Japanese investors to collaborate with Thanh Hoa.
