Recently, the People’s Committee of Thanh Hoa Province conducted an on-site inspection and received a detailed progress report on the investment project for the construction and infrastructure development of the Thang Long Thanh Hoa Industrial Park (Phase 1), located in Dong Quang Ward and Dong Tien Commune.
The Industrial Park in the western part of Thanh Hoa City was approved by the Provincial People’s Committee through the 1/2000-scale Construction Zoning Plan in Decision No. 2643 dated June 25, 2024. The Thang Long Thanh Hoa Industrial Park Infrastructure Investment and Development Project (Phase 1) is part of the western industrial zone and is led by Thang Long Thanh Hoa Industrial Park Co., Ltd., a subsidiary of Japan’s Sumitomo Corporation.
The province has set a clear timeline: complete basic construction and commence operations by Q1/2026. Once operational, the industrial park is expected to attract 50–250 secondary enterprises across various manufacturing sectors, create jobs for 13,000–40,000 workers, and generate cumulative FDI of $2–8 billion.
Mr. Mai Xuan Liem inspects the project’s progress in Dong Quang Ward. (Photo: Thanh Hoa Newspaper)
Mr. Mai Xuan Liem, Vice Chairman of the Provincial People’s Committee, directed Dong Quang Ward and Dong Tien Commune to urgently finalize and issue the Compensation Plan Approval Decision for affected households based on the land compensation rates for state land acquisition. Simultaneously, they must expedite land clearance for the project area under local management, ensuring timely handover to the investor for groundbreaking in early Q1/2026.
Sumitomo Corporation (Japan) is a diversified conglomerate primarily operating in manufacturing, energy, smart cities, and electronic component production.
In late October 2025, Sumitomo Corporation announced the completion of its acquisition of a 49% stake in Cuu Long Power Consulting and Development JSC (MEE JSC), owner of the Dak Di Hydropower Cluster in Nam Tra My (Quang Nam), from GreenSpark Group (based in Lao Cai). This marks Sumitomo’s first investment in Vietnam’s hydropower sector, signaling its expansion into renewable energy.
Prior to entering hydropower, Sumitomo had established a strong presence in industrial parks, real estate, and infrastructure.
In the industrial park sector, Sumitomo is the developer of the Thang Long Industrial Park series, including Thang Long I (Hanoi, 1997), Thang Long II (Hung Yen, 2006), and Thang Long III (Vinh Phuc, 2015). The company is set to launch Thang Long IV in Thanh Hoa in 2025 and has engaged with Vinh Phuc Province’s leadership to promote a second industrial park project there.
In real estate, Sumitomo partnered with BRG Group to develop the North Hanoi Smart City in Vinh Thanh Commune (Dong Anh, Hanoi), spanning nearly 272 hectares with a total investment of $4.2 billion.
In the energy sector, Sumitomo collaborates with EVN, EDF (France), and TEPCO/JERA (Japan) on the Phu My 2.2 Thermal Power Plant (715 MW) under a BOT model. The plant is scheduled for handover to EVN in February 2025 after 20 years of operation.
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