Last updated: 16:54 - July 21, 2006
Sumitomo plans to build two more IZs http://www.nhandan.com.vn/english/business/210706/business_s.htm
The Japanese Sumitomo Group plans to build two additional industrial zones (IZ) in Hanoi and Hung Yen province following the good-performance of the Thang Long Industrial Zone in Hanoi in which it is a co-investor.
The Thang Long IZ has been highly rated for drawing foreign investment among IZs in Hanoi. It is currently home to 48 businesses, mostly Japanese. Last year, these businesses, which have a combined investment capital of more than US $1 billion, earned an export value of US $734 million, equivalent to 3% of the total national export turnover.
They have employed 19,200 people in Hanoi and adjacent provinces. The employment is expected to increase to 30,000 by the end of 2008 when new businesses in the 289-hectare IZ start their operations. (VNA)
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