Sumitomo begins building Thang Long Industrial Park III
Japan’s Sumitomo Corporation broke the ground for the construction of its third Thang Long Industrial Park (TLIP III) in Vietnam in the northern province of Vinh Phuc on September 21.
Deputy Prime Minister Trinh Dinh Dung attends the groundbreaking ceremony (Source: VNA)
Vinh Phuc (VNA) – Japan’s Sumitomo Corporation broke the ground for the constructionof its third Thang Long Industrial Park (TLIP III) in Vietnam in the northernprovince of Vinh Phuc on September 21.
TLIP III covers more than 213 hectares in Thien Ke and Tam Hop communes of BinhXuyen district. It is expected to generate jobs for thousands of labourers.
The park is callingfor projects on non-polluting industries, prioritising high-tech projects,support industry, spare parts production in service of the auto and motorcyclesector, and precision engineering, among others.
In his remarks,Deputy Prime Minister Trinh Dinh Dung noted his hope that Sumitomo will build TLIPIII into a model in terms of infrastructure and environment in Vietnam ingeneral and Vinh Phuc in particular.
He called onSumitomo, with its prestige, will continue to work as a bridge for otherJapanese businesses to invest in Vietnam.
Dung also askedcompetent agencies and all-level authorities in Vinh Phuc to create the bestpossible conditions for investors, especially Sumitomo, and TLIP III, notingthat Japanese businesses have contributed to creating breakthroughs in VinhPhuc and other Vietnamese cities and provinces.
On October 22, 2015,Vinh Phuc licensed a project to develop infrastructure in TLIP III, which isthe tenth out of 19 industrial parks ratified by the Prime Minister to be builtby 2020.
The province isexpected to attract 79 Japanese projects after TLIP III is put into service.
Sumitomo built TLIPI and II in Hanoi and the northern province of Hung Yen.-VNA
The Hanoi People’s Committee, BRG Group and Japan’s Sumitomo Corporation signed a cooperation agreement on developing Nhat Tan-Noi Bai urban project with total investment of more than 4 billion USD, aiming to build the most modern smart city of Southeast Asia in the north of Hanoi.
Some Japanese banks already operating in Vietnam have revealed their plans to expand investments, while others hope to make inroads into the market, according to Dau Tu (Investment) newspaper.
The next phase of the Thang Long-Vinh Phuc Industrial Park project in Binh Xuyen district, the northern province of Vinh Phuc will be implemented under a memorandum of understanding signed on June 6.
Many Japanese firms such as Mitsubishi, Maeda, Kajima, Sumitomo and Creed Group have made investments worth tens to hundreds of millions USD in the Vietnamese realty market within over the past year.
BIDV-SuMi TRUST Leasing Co., Ltd (BSL) officially opened in Hanoi on September 8, becoming the first financial leasing joint venture between a Vietnamese bank and a foreign financial institution in Vietnam.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Deputy Prime Minister Trinh Dinh Dung attends the groundbreaking ceremony (Source: VNA)
