Sumitomo opens its 3rd industrial park in Vietnam with 8 Japanese tenants
HANOI, NNA –Trading house Sumitomo Corp. has opened its third industrial park in Vietnam, aiming to support Japanese firms entering the emerging market economy.
Eight Japanese tenants have signed a lease at the Thang Long Industrial Park III in Vinh Phuc Province, north of Hanoi. Their total investment is estimated at $150 million.
Sumitomo expects some manufacturers will move their production facilities to Vietnam from China as the Sino-U.S. trade row intensifies.