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.
Sumitomo begins building Thang Long Industrial Park III ảnh 1Deputy 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 
VNA

See more

The Vietnam–Cambodia business connectivity conference held in Ho Chi Minh City on July 15 aims at boosting trade and investment between the two economies. (Photo: VNA)

Conference seeks ways to promote Vietnam – Cambodia trade

The value of trade between Vietnam and Cambodia reached 6.2 billion USD in the first six months of 2025, a year-on-year increase of 16.8%. Vietnam's exports to Cambodia totaled 2.7 billion USD, up 4.6% from the same period last year.

A Korea-invested company in Hue city, Vietnam (Photo: VNA)

Foreign investors show strong confidence in Vietnam’s long-term investment potential

While concerns over tariffs are real and may lead some foreign investors to take a more cautious approach in disbursing capital, especially for large-scale and long-term projects, Vietnam still holds significant advantages in attracting FDI thanks to a favourable business environment and, most importantly, the Government’s strong commitment to supporting investors.

Deputy Minister Nguyen Hoang Long, Minister of State Douglas Alexander, and representatives from ministries and the embassies of both countries pose for a group photo at the 14th JETCO meeting. (Photo: VNA)

Vietnam, UK boost economic, trade ties

Over the past decade, trade and investment relations between Vietnam and the UK have made remarkable strides. On trade, the two countries have implemented the UKVFTA for more than four years, and most recently, the UK’s accession as the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has further strengthened bilateral cooperation.

Workers assemble parts on an automotive production line in HCM City. The city’s industrial sector is showing strong signs of recovery. (Photo: moit.gov.vn)

HCM City sees strong recovery in industrial production

HCM City's 23 industries – including printing and media reproduction, furniture manufacturing, non-metallic mineral products, motor vehicles, electrical equipment, clothing and electronic and optical products – reported higher output in the first half of 2025.

Workers pack cashew nuts at Duc Thinh production and trading co., ltd., former Binh Phuoc province (Photo: VNA)

Vietnam targets 4.5 billion USD in cashew exports for 2025

Figures from the first six months show cashew exports reached 346,800 tonnes, earning 2.36 billion USD, a drop of 2.7% in volume but a surge of 20.4% in value annually. The rise was largely attributed to a significant increase in export prices, which helped offset lower shipment volumes.

The Hai Phong City Convention and Performance Centre is one of the venues for ABAC III. (Photo: VNA)

Hai Phong expects strong wave of investment from APEC member economies

Hai Phong will present investment registration certificates for 32 projects and sign seven Memoranda of Understanding, with total committed capital exceeding 15.6 billion USD. These projects include investments from Europe and the US, reflecting the growing interest of global investors in the city's business environment and development potential.

The ongoing administrative reforms are expected to expand the real estate sector's appeal to investors. (Photo: VNA)

Institutional reforms open new investment frontier for realty sector

Assessing the impact of the new model, Director at Savills Vietnam’s Advisory Services Do Thi Thu Giang said that the deeper decentralisation of authority to local administrations will help reduce processing time for construction permits and project approvals, thereby reducing opportunity costs and increasing investment efficiency.

Minister Counsellor Pham Quang Huy, deputy head of Vietnam's Permanent Mission to Geneva and representatives of St. Gallen Endowment. (Photo: VNA)

Vietnam boosts cooperation with St. Gallen Endowment of Switzerland

Minister Counsellor Pham Quang Huy, deputy head of Vietnam's Permanent Mission to Geneva, has recently held a working session with representatives of the St. Gallen Endowment to boost cooperation between Vietnam and the Swiss fund, as part of his attendance at a seminar in Geneva on risk levels and countries’ trade responses to rising tariffs.