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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