Vietnam Time

10/5/2017 9:33:17 AM

Japanese firm to build 10-mln-USD factory in Vinh Phuc’s IP

Tsuchiya TSCO Vietnam Co., Ltd has entered a land lease contract with Thang Long Industrial Park (TLIP III) in the northern province of Vinh Phuc to set up a 10-million-USD facility.

Tsuchiya TSCO, a member of the Japan-based Tsuchiya TSCO Group, is among first companies signing a lease with the industrial park, according to the provincial People’s Committee.

Founded in 1990, the group manufactures home appliances, electronic and automotive parts. It now has 11 subsidies at home and 14 others overseas.

Its 4-ha factory in the TLIP III will produce automotive parts and industrial products.

Deputy Prime Minister Trinh Dinh Dung attends the groundbreaking ceremony of the third Thang Long Industrial Park (TLIP III) in the northern province of Vinh Phuc on September 21st. (Source: VNA)

Construction on the TLIP III started on September 21st this year, covering 213 hectares in Thien Ke and Tam Hop communes, Binh Xuyen district. It is expected to draw about 80 FDI projects from Japan and create jobs for thousands of labourers once put into service.

The industrial park gives priority to hi-tech and environmentally-friendly projects, support industries, and spare parts production in service of the auto-motorcycle and precision engineering sectors.

On October 22nd, 2015, Vinh Phuc licensed a project to develop infrastructure in TLIP III, which is the tenth out of 19 industrial parks ratified by the Prime Minister to be built by 2020.

The province is expected to attract 79 Japanese projects after TLIP III is put into service.

Sumitomo built TLIP I and II in Hanoi and the northern province of Hung Yen./.

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