Sumitomo Corporation Invests More IP in Vinh Phuc

The People's Committee of Vinh Phuc Province recently granted an investment registration certificate to Sumitomo Corporation of Japan to invest in infrastructure in Thang Long Vinh Phuc Industrial Park.

Sumitomo Corporation is a world-leading industrial zone infrastructure developer. Currently the group has 135 offices in 66 countries and 74,638 employees around the world. In Vietnam, Sumitomo Corporation has two industrial parks, Thang Long Industrial Park I in Hanoi City and Thang Long Industrial Park II in Hung Yen province (the first phase of Thang Long Industrial Park II has so far attracted 45 foreign investment projects with a total registered capital of US$1.5 billion, which employ 12,000 workers). To continue the success of these two industrial zones, Sumitomo Corporation decided to invest in the third facility in Vietnam. After more than 30 months of very careful research, study, investigation, assessment and examination into every factor, conditions and society in 20 locations in 10 provinces, including Vinh Phuc, Sumitomo Corporation decided to cooperate with Sumitomo Vietnam Co. Ltd to invest and build infrastructure in Thang Long Vinh Phuc Industrial Park in Thien Ke … [Read more...]

State President receives Kanagawa prefecture Governor

State President Truong Tan Sang welcomes Governor of Kanagawa prefecture Yuji Kuroiwa, Ha Noi, October 16, 2015. Photo: VNA

VGP – State President Truong Tan Sang hosted a reception for Governor of Japan’s Kanagawa prefecture Kuroiwa Yuji in Ha Noi on October 16. The Vietnamese leader thanked the Governor of Kanagawa prefecture for organizing meaningful cultural and economic events during General Secretary Nguyen Phu Trong’s visit to Japan. He noted with pleasure that projects by businesses from Kanagawa prefecture have been successfully launched and regarded as a model in strengthening the relations between Viet Nam and Kanagawa prefecture in particular and Japan in general. The host expected that in the future, Japan will continue its assistance for Viet Nam to back the latter’s national industrialization and modernization process. Viet Nam will continue creating favorable conditions for foreign investors, including Japanese ones to launch long-term investment in the country, he asserted. The Governor Kuroiwa Yujibriefed about his visit to Thang Long Industrial Park II in … [Read more...]

Airbus selects Vietnam-based firm to make Sharklet plates for A320s


French aircraft manufacturer Airbus announced Wednesday the first package of airplane parts to be made in Vietnam by its newly selected part maker, Hanoi-based Nikkiso Vietnam. Nikkiso Vietnam, a 100 percent Japanese-invested manufacturing company located at the Thang Long Industrial Park II in the Vietnamese capital city, will produce composite vertical bars and the armor plates of Sharklet wingtip devices for A320 aircraft. The production will be done under a subcontracting deal with the Korean Air Aerospace Division, the main supplier of Sharklet devices for Airbus. Sharklets help save fuel and are available on A320s, according to Jean-Francois Laval, Airbus Executive Vice President for Asia. With 4,280 A320 planes waiting to be delivered to customers worldwide, the part manufacturing package will ensure steady work for Nikkiso Vietnam, Laval said at a press conference in Hanoi yesterday. Vietnam was chosen as Airbus's part-making destination thanks to its fast … [Read more...]

Panasonic opens its new washing machine

HUNG YEN (VNS)— Panasonic Appliances Viet Nam Co, Ltd opened a washing machine factory in Thang Long Industrial Park II, Yen My District, Hung Yen Province yesterday. The US$32 million factory, fully funded by Panasonic Corporation, is the first in Viet Nam that integrates Research and Development (R&D) with manufacturing. The factory will manufacture around 300,000 sets of washing machines in 2013. Its manufacturing capacity will double to 600,000 sets of washing machines yearly and attract around 300 local employees by 2014. The new factory will focus on the development of high-performance washing machines that incorporate Panasonic's advanced eco-friendly and smart technologies, reflecting its commitment to environmental sustainability.-VNS … [Read more...]

Thang Long Industrial Park II -Important Highlighted Location to Attract Investors to Hung Yen


Thang Long Industrial Park II is invested by Thang Long Industrial Park II Corporation (TLIPII), a subsidiary of Sumitomo Corporation, a capable and experienced enterprise which invested and developed many industrial park infrastructure projects worldwide. Thang Long Industrial Park II is highly appreciated by the Hung Yen province Communist Party Committee, People's Committee leaders as well as the concerned authorities for its effort to complete fully infrastructure, provide services, and investment in modern water supply and sewage treatment systems. Thang Long Industrial Park II is regarded as a model industrial park, an important highlight in the domestic and overseas investment attracting strategy of Hung Yen Province, especially attracting Japanese investors. Thang Long Industrial Park II in the whole scale of 345,6 ha and total cost of VND1,900 billion is invested into 2 phases: Phase 1 (220 ha) was completed and leased out 94 percent. With the target of creation a modern and … [Read more...]

Panasonic Inaugurates New Washing Machine Factory in Vietnam


Panasonic Appliances Vietnam Co., Ltd (PAPVN) on 20th March inaugurated its new washing machine factory in Thang Long Industrial Park II, Yen My district, Hung Yen province. The US$32 million factory, fully invested by Panasonic Corporation, is the first in Vietnam that integrates Research and Development (R&D) function with its manufacturing business. The new factory will focus on the development of high performance washing machines which incorporates Panasonic's advanced eco and smart technologies reflecting its commitment to environmental sustainability. The factory aims to achieve 50 percent of production for the local market and 50 percent for export to other ASEAN countries. Construction of the facility commenced in March 2012. The factory targets to reach manufacturing capacity of 600,000 sets of washing machines per annum and provide employment to around 300 locals by 2014. TKD … [Read more...]

Sumitomo Increases Investment in Vietnam


On March 1, 2013 at the VCCI head office, President Vu Tien Loc of the Vietnam Chamber of Commerce and Industry (VCCI) hosted a meeting with Mr Nakamura, President of Sumitomo Corporation of Japan, during his visit to Vietnam for the commemoration of the 40th anniversary of Vietnam - Japan relations. Mr Nakamura said Sumitomo highly values Vietnam as it is the most important and attractive market for Japanese businesses. Many Japanese companies place strong expectations in Vietnam’s economic development. He said Sumitomo gets involved in many projects in Vietnam in various areas like infrastructure, communications, electricity, railways, power, coal and oil. He expressed his hope to see its projects be sped up. He added that to attract Japanese investors, Vietnamese authorities should reduce administrative procedures and speed up contract negotiations of major projects to reach early consensus with relevant ministries and agencies. He hoped Vietnam will soon resolve this issue … [Read more...]


Power project receives credit for implementation A credit contract, worth 3.3 trillion VND (160 million USD), for a 500 kilovolt power transmission project was signed on December 19 in Hanoi. The contract was signed between the State-owned Vietnam Electricity's Power Transmission Corp and the Bank for Industry and Trade of Vietnam ( Vietinbank) - Hanoi branch. The credit will fuel the 500 kV Pleiku-My Phuoc-Cau Bong project, which is part of the Government's national grid development master plan. Covering the provinces of Gia Lai, Dak Lak, Dak Nong, Binh Phuoc and Ho Chi Minh City , the project aims to ensure electricity supply to southern areas in the 2014-2015 period, as well as power grid connectivity across Vietnam , Laos and Cambodia in 2015. The 9.28 trillion VND project is also funded by the World Bank, the Vietnam Development Bank and the Asia Development Bank. Ministry eyes new fuel tax scales The Ministry of Finance is considering a more exact way of changing its … [Read more...]

Kyocera seeks tax incentives


Japan's Kyocera Corporation is seeking support from Vietnam's Ministry of Industry and Trade for tax incentives granted to a supporting industry enterprise. Vietnam Kyocera Company, a wholly-owned subsidiary of Kyocera Corporation, recently sent a proposal to the Ministry of Industry and Trade (MoIT) saying that its manufacturing project in northern Hung Yen province should be recognised as a supporting industry enterprise, given that its products are surface mount devices (SMD). … [Read more...]

Sumitomo Osaka Cement powers up battery


Sumitomo Osaka Cement Co Ltd (SOC) cut the ribbon on its first battery material plant in Yen My district, northern Hung Yen province on November 30. The 5 billion JPY (US$62.5 million ) plant is specialised in manufacturing cathode materials for lithium ion batteries, an essential material in the energy revolution. … [Read more...]

Sumitomo Osaka Cement powers up battery plant

HUNG YEN (VNS)— Sumitomo Osaka Cement Co Ltd (SOC) cut the ribbon on its first battery material plant in Yen My District, northern Hung Yen Province yesterday. The JPY5 billion (US$62.5 million) invested plant is specialised in manufacturing cathode materials for lithium ion batteries, an essential material in the energy revolution. "The new plant in Viet Nam will provide a solid foundation to expand our lithium-ion battery cathode material business throughout the region and wider world," said General Director of SOC Viet Nam Yoshihiko Sumitani. "We are now able to take advantage of Viet Nam's talents and raw materials for our plant operation and in turn we will transfer our technology, knowledge and experience to the country's staff," Sumitani added. Located in a 56,000-quare-metre area in the Thang Long Industrial Park II, the plant was designed to produce 2,000 tonnes of product per year. The productivity could be increased to 10,000 tonnes per year, depending on market … [Read more...]

Door to open for more industrial park options in the northern economic engine


Japan's Sumitomo Corporation will expand Thang Long Industrial Park II for foreign investors seeking a place to drop anchor in Vietnam. The Thang Long park is already home to many profitable operators Deputy Prime Minister Hoang Trung Hai on December 29, 2011 signed a document allowing Hung Yen Provincial People's Committee to hand over 125.6 hectares to Thang Long Industrial Park II Corporation, a subsidiary of Sumitomo Corporation, for developing the second phase of the industrial park in this province. Pham Thai Son, director of Hung Yen's Industrial Parks Management Authority, said the document would allow local authorities to clear the site, while the developer could prepare for construction of the project, about 30 kilometres northeast from Hanoi. "The park is the most successful in our province, so we are happy as the government supports the expansion of this one. This will contribute to attract more investments in our province," said Son. Thang Long Industrial Park II … [Read more...]

Japan’s green brush to paint eco picture


Sustainable development, environment protection and green technologies are being championed by Japan to address Vietnam's eco challenges. Building a green economy is now Vietnam's top priority Co-organised by the Vietnam Chamber of Commerce and Industry, Business Council for Sustainable Development and Japan Economic Times, the "Global environment business - Environment Technology Cooperation between Vietnam and Japan" centred a range of big Japanese enterprises. Those firms are operating in Vietnam in fields related to environment protection and sustainable development. Deputy Prime Minister Hoang Trung Hai said climate change was one of the top global priorities, especially for Vietnam, which was among the most vulnerable countries to climate change. "Vietnam has gained remarkable economic development achievements, however urbanisation and modernisation are challenging the environment," Hai said. The deputy premier highlighted environment impacts made by energy … [Read more...]

Dong Anh Mechanical One-Member Limited Liability Co: Confident on the Top Place


"The Dong Anh Mechanical Company's secret to success lies in its name built from Quality - Economical - On time - Perfect service. The market is open, or in other words, everyone share equal opportunity. If you want to occupy the market, you must be the No. 1. Then, you will have the right to choose and minimise risks," said Lai Van Dam, Director of Dong Anh Mechanical Company. Recalling the time the company operated in the centrally planned economy and subsidy mechanism from 1963 - 1989, Director Dam said: "The capital of the company was very small during that period, business targets were unclear, mainly serving the Mechanical Construction Union. But, this period left major spiritual values. Scores of construction machines and even war tanks were repaired by the company, serving the combat against invaders and the construction of the country. That was the period of pride and the tradition of overcoming difficulties of the company." Since 1990, the company's business operations were … [Read more...]

Vinh Phuc Enhances Investment Promotion in Netherlands

Continuing the programme from the 2014 investment promotion trip in Russia - Europe led by Mr Phung Quang Hung, Chairman of Vinh Phuc Provincial People’s Committee, on November 17, Vinh Phuc’s investment promotion mission held working sessions with businesses and Vietnam Embassy in the Kingdom of the Netherlands. In the Netherlands, the mission worked with De Heus Group. This is a well-known corporation in the Netherlands established in 1911 and specialised in producing animal feed. Its operation was awarded the Crown by the Queen of the Netherlands. The current animal feed production by De Heus Group is about 4.6 million tonnes annually, of which about 2 million tonnes are the output of 8 plants in the Netherlands. De Heus Group has invested in four animal feed production plants in Vietnam, including the factory in Binh Xuyen Industrial Park of Vinh Phuc province with capacity of 400,000 tonnes/year, investment of US$30 million. It currently is under construction. … [Read more...]

Parkway Pantai Group Seeks Investment Opportunities in Vinh Phuc


Parkway Pantai Group of Singapore led by CEO Tan See Leng paid a working visit to Vinh Phuc province on October 16, 2014 to seek investment opportunities. Chairman of Vinh Phuc Provincial People's Committee Phung Quang Hung received Parkway Pantai CEO Tan See Leng. With a more than 40 year experience in professional healthcare, health service and insurance, Parkway Pantai Group is a leading private provider of healthcare services in Asia. The group has more than 3,400 beds, more than 1,200 professionals and over 35 patient assistance centres throughout the world. Parkway Pantai has two representative offices in Vietnam, one in Hanoi and another in Ho Chi Minh City. … [Read more...]

Vinh Phuc: Effective In-place Investment Promotion


With the strengthening of investment promotion activities and in-place incentives, the first nine months of 2014, Vinh Phuc has attracted 34 FDI projects with total registered capital of US$235.47 million, an increase of 14 projects over this year's projection. So far, the province has had 172 FDI projects with total registered capital of US$2,938 million. FDI enterprises mainly engaged in manufacturing, automotive, motorcycles, electronic components, etc. Messages from the leadership … [Read more...]

Vinh Phuc Putting Several Tourist Sites into Development Plan


As part of the plan to speed up tourism development to 2020 with vision to 2030, Vinh Phuc tourism will receive 76,000 international visitors and 2,250,000 domestic tourists; 120,000 international visitors and 2,850 million domestic visitors by 2020; and 220,000 international visitors and 3,700 million domestic tourists by 2030. On September 6th 2014, Mr Phung Quang Hung, Chairman of Vinh Phuc Provincial People's Committee, chaired a meeting with the Department of Culture, Sports and Tourism, the Department of Construction and consultancy units to report on three projects namely the detailed planning ratio 1/500 of Tam Dao 1 Resort; the general planning ratio 1/5000 of Tay Thien Scenic Area, Tam Dao district; the detailed planning ratio 1/500 of west area of Dai Lai lake resort, Phuc Yen town. … [Read more...]

Singapore companies wish to invest in Vinh Phuc province

KinderWorld Education Group will soon conduct three investment projects in Vietnam 's northern Vinh Phuc province, said its Chairman Ricky Tan at a roundtable on investment opportunities in the province held in Singapore on July 18. He said that KinderWorld has so far invested 40 million USD in 15 projects throughout Vietnam , becoming Singapore 's largest investor in Vietnam 's education sector. In the next decade, the group will pour 100 million USD into three projects in Vinh Phuc province, namely the Adventure and Eco-Tourism Education, the Singapore-Vietnam International School and the Singapore Education Metropolis. … [Read more...]

Vinh Phuc Plans for Supporting Industry Development


In recent years, Vinh Phuc province has achieved many remarkable accomplishments in socio-economic development and maintained high-speed economic growth, shifted economic structure towards expected patterns featured by an increasing proportion of industry, construction and service, and a declining proportion of agriculture, forestry and fisheries. The above achievements have significant contributions of foreign direct investment (FDI) projects. To date, Vinh Phuc province has attracted 126 FDI projects with a total registered capital of US$2.7 billion. Among 13 countries and territories investing in Vinh Phuc province, Japan is the biggest investor with 19 projects valued at nearly US$700 million. Japan was the first country to have investment projects in Vinh Phuc province. Japan-based Honda and Toyota have laid the foundation for the development of the automobile and motorbike industries in the province. Then, South Korea's Daewoo and Italy's Piaggio followed with their automobile … [Read more...]