Sumitomo Corporation, a leading Japanese conglomerate, has received in-principal approval to develop its fourth industrial park in Vietnam. The project, named Thang Long Industrial Park Thanh Hoa (TLIP4), will be in Thanh Hoa province with a total planned investment of nearly VND 2,917 billion (approx. USD 116 million). This marks a significant milestone in Sumitomo’s long-term strategy in Vietnam, reinforcing its commitment to supporting the country’s industrial development and strengthening Japan-Vietnam economic cooperation.

Industrial Parks with Japanese Investment in Vietnam

Japanese investment has played a pivotal role in shaping Vietnam’s industrial development over the past three decades. As Vietnam has emerged as a leading manufacturing hub in Southeast Asia, Japanese corporations have strategically invested in industrial parks (IPs) across the country to support their supply chains and production networks. These industrial parks — developed and operated by major Japanese investors offer modern infrastructure, proximity to ports, and access to skilled labor, making them highly attractive to high-tech manufacturers in fields like electronics, automotive components, and precision engineering.

Since the 1990s, a series of Japanese-invested industrial parks have been established across Vietnam, especially in provinces like Hanoi, Hung Yen, and Vinh Phuc. Large Japanese enterprises such as Canon, Mitsubishi, and Panasonic have also built factories in these industrial parks and contributed greatly to the local economy.

Industrial Park with Japanese investment in Vietnam

Source: B&Company summary

Sumitomo’s New Project: Thang Long Industrial Park Thanh Hoa (TLIP4)

The Thang Long Industrial Park Thanh Hoa (TLIP4) will be Sumitomo’s fourth industrial park in Vietnam. It will be developed on approximately 167 hectares in the first phase, located in Dong Yen and Dong Van communes of Thanh Hoa Town and Dong Tien and Dong Thang communes of Trieu Son District ([1]). The whole project will be worth around USD 116 million.

Thanh Hoa Province location in Vietnam

Source: Wikipedia

The project is designed for a 50-year operational period, with construction expected to be completed within 36 months of the date of land allocation – around December 2027([2]). Sumitomo will contribute 15% of the project’s registered capital within 90 days of receiving its enterprise registration certificate. Once completed, the project will attract 50-250 secondary investors to lease land and build factories, creating jobs for about 13,000-40,000 workers. TLIP4 aligns with Thanh Hoa’s long-term economic vision, which includes the development of 19 industrial parks and 126 industrial clusters by 2030, as part of its broader socio-economic development strategy ([3]).

By leveraging its extensive experience from previous projects, Sumitomo aims to create a modern, environmentally friendly industrial park that will attract investment from Japanese and international manufacturers in electronics, automotive parts, and high-tech industries.

Thanh Hoa province awarded the Decision approving the investment policy and investor of the Thang Long Thanh Hoa Industrial Park project (phase 1) to the representative of Sumitomo Corporation

Source: thanhhoa.gov

The new industrial park is expected to attract manufacturing companies, particularly from Japan, and contribute to the industrialization and economic development of the region. Sumitomo plans to leverage its extensive expertise to support tenant companies and tackle various challenges, thereby continuing its contribution to Vietnam’s economic growth.

Conclusion

Japanese industrial parks have played a key role in Vietnam’s economic transformation, helping the country become a major manufacturing base in Southeast Asia. Backed by strong infrastructure, efficient management, and close ties to global supply chains, these parks have attracted numerous multinational investors, particularly in the electronics, automotive, and high-tech manufacturing sectors.

Sumitomo Corporation’s approval to develop its fourth industrial park in Vietnam underscores the company’s commitment to supporting the country’s industrial growth and attracting foreign direct investment. The TLIP4 project in Thanh Hoa province is poised to become a significant contributor to the region’s economic development, offering opportunities for manufacturing companies and creating employment for the local workforce.

[1] https://theleader.vn/sumitomo-dau-tu-khu-cong-nghiep-2900-ty-dong-tai-thanh-hoa-d40063.html

[2] https://theleader.vn/sumitomo-dau-tu-khu-cong-nghiep-2900-ty-dong-tai-thanh-hoa-d40063.html

[3] https://truyenhinhthanhhoa.vn/sau-nam-2030-thanh-hoa-se-co-hai-khu-kinh-te-19-khu-cong-nghiep-va-126-cum-cong-nghiep-180230806090626726.htm

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