Including Binh Xuyen - Yen Lac II Industrial Park Project in the “50% Green Lane” Mechanism

On the morning of May 6, Mr. Tran Duy Dong – Alternate Member of the Party Central Committee, Deputy Secretary of the Provincial Party Committee, and Chairman of the Provincial People’s Committee (PPC) – presided over a working session with the leadership of Thang Long Industrial Park (Vinh Phuc) Corporation (a 100% foreign-invested enterprise under Japan’s Sumitomo Corporation) regarding the implementation of the Binh Xuyen - Yen Lac II Industrial Park Project. Also attending were Mr. Nguyen Huy Ngoc, Vice Chairman of the PPC, and leaders of relevant departments.

Chairman Tran Duy Dong delivering his executive directives at the working session.

As a world-leading industrial park (IP) developer, Sumitomo Corporation has invested in and operated four IPs in Vietnam since 1997: Thang Long IP (Hanoi), Thang Long II (Hung Yen), Thang Long III (Vinh Phuc), and the Quang Tri IP project. They are currently implementing Thang Long Thanh Hoa IP – Phase 1. Sumitomo’s projects have attracted over 200 secondary investors and created approximately 100,000 jobs.

Specifically in Phu Tho province, the Thang Long III IP (Binh Xuyen area) has attracted 51 secondary projects (primarily from Japan) and reached a 100% occupancy rate, creating 14,000 jobs and contributing significantly to local socio-economic development.

Mr. Kawanabe Kenta (center), General Director of Thang Long Industrial Park (Vinh Phuc) Corporation, presenting the proposal.

Building on this successful partnership, the proposed Binh Xuyen - Yen Lac II IP Infrastructure Investment and Construction Project (Phase 1) will be located in Xuan Lang and Nguyet Duc communes. The project covers 132 hectares with a total investment of 100,514,477 USD and is expected to be operational within 36 months from the land handover date.

Mr. Kawanabe Kenta, General Director of Thang Long IP (Vinh Phuc) Corp, expressed his gratitude to the PPC and provincial departments for their continuous support. He requested the Chairman to officially add this project to the list of pilot projects under the “50% Green Lane” mechanism to streamline administrative procedures, ensuring timely implementation and contributing to the province’s double-digit growth goal.

Chairman Tran Duy Dong highly appreciated Thang Long IP (Vinh Phuc) Corp’s contributions to the province. He expressed strong support for the Binh Xuyen - Yen Lac II IP proposal, particularly the company’s proactive approach in planning synchronized technical infrastructure (wastewater treatment plants, administration buildings, security zones, and greenery) right from Phase 1. This infrastructure is geared toward attracting supporting industries and semiconductor projects.

The Chairman of the Provincial People’s Committee also expressed his agreement with the reports and proposals from the functional departments. He assigned the Provincial Industrial Zones Management Board to coordinate with relevant agencies to finalize the Investment Policy Approval procedures for the Company within 15 days, in accordance with the Law on Investment. Remaining administrative procedures related to land handover, construction, and building permits will be integrated into the “Green Lane” mechanism to expedite progress.

Chairman Tran Duy Dong emphasized that the infrastructure in the Xuan Lang and Nguyet Duc areas is currently among the best in the province in terms of modernity and environmental standards. This is a major advantage for attracting high-tech investors, which will serve as a catalyst for Phu Tho’s “double-digit” growth target in 2026.

Dinh Vu