Sumitomo requests resolution of obstacles for $3 billion industrial park

Sumitomo requests resolution of obstacles for $3 billion industrial park

Sumitomo Corporation is pushing to clear obstacles for its $3 billion-plus industrial park in Hung Yen province.

Nguyen Huu Nghia, Secretary of Hung Yen Party Committee, met with a delegation from Japan’s Sumitomo Corporation, led by Yohei Kurisu, a member of the corporation’s executive board, on July 10.

During the meeting, Kurisu expressed gratitude for the attention, guidance, and improvements provided by Hung Yen’s leadership, which have enabled Thang Long II Industrial Park to operate effectively over the years. He noted that Sumitomo is currently expanding the fourth phase of the park but is encountering several challenges that require resolution.

"The difficulties include the need for investment in power infrastructure to support the expansion phase, a shortage of labour for factories, a scarcity of sand, and projects that, despite receiving investment certificates, are yet to utilise the allocated land," said Yohei Kurisu.

In response to these concerns, Nghia said, "Hung Yen has focused on investing in modern, synchronised power infrastructure to meet production and residential needs. If Thang Long II Industrial Park requires significant energy for its expansion, the province will propose to the prime minister to approve the construction of a new 110kV substation to meet the demand."

“Regarding the labour shortage, Thang Long II Industrial Park Management Board regularly surveys the labour needs of enterprises, including the number of workers, required skills, qualifications, and compensation packages. The province will direct relevant agencies to organise job fairs and employment events to effectively connect businesses with workers,” said Nghia.

“On the issue of sand, the province is considering licensing additional sand mines and expediting procedures to grant permits for existing mines. Simultaneously, the province will coordinate with other localities with large sand reserves to develop a plan to ensure a timely supply,” Nghia stated.

For projects that have received investment certificates but have not yet utilised the allocated land, the province considers this a violation of land and investment laws. Therefore, the province has asked Thang Long II Industrial Park Management Board to collaborate with relevant authorities to review, classify, and decisively address cases of delayed implementation to avoid wasting resources and negatively impacting the overall investment environment.

Hung Yen’s leadership confirmed its commitment to continue supporting Sumitomo Corporation in resolving difficulties and creating favourable conditions for investment expansion, contributing to the province’s socioeconomic development.

Thang Long II Industrial Park, invested by Sumitomo Corporation in Hung Yen, currently spans over 545 hectares, primarily accommodating Japanese investors such as Kyocera, Hoya, Daikin, and Panasonic, with a total registered investment of approximately $3 billion.

In the fourth expansion phase, Sumitomo is investing an additional $500 million to develop 391.7ha, focusing on commercial and residential areas to attract more major investors.

VIR