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Mar. 19, 2012

Thang Long Industrial Park to contribute to the activation of the industry in Vietnam

On February 17, 2012, Thang Long Industrial Park (TLIP) which was established by Sumitomo Corporation was presented with the Prime Minister's Award by the Foreign Investment Agency, Ministry of Planning and Investment of Vietnam at an event held in Hanoi to commemorate the 20th anniversary of Vietnam's first industrial park. Among Vietnam's numerous industrial parks, export processing zones, and economic zones, a total of 11 entities received awards in recognition of their contribution to the country's efforts to attract and foster foreign components/parts companies. Only three of the 11 awarded entities were private industrial parks, including TLIP.

Most of the more than 200 industrial parks, export processing zones, and economic zones in Vietnam were developed by Vietnamese government authorities and companies. Only 10 industrial parks were directly and indirectly developed by Japanese companies, out of which TLIP and TLIPII were developed by Sumitomo Corporation in the suburbs of Hanoi. In the two Thang Long Industrial Parks (Thang Long meaning "rising dragon" in Vietnamese), around 130 companies, mostly Japanese, have taken up occupancy, generating employment for about 60,000 Vietnamese workers. Exports from the two industrial parks account for as much as 3.2% of Vietnam's total annual exports in terms of value.

The TLIP operation company provides a wide sphere of support to its clients, including "hard" infrastructure such as electricity and water supply and "soft" infrastructure for raw material procurement, logistics, and employee recruitment. We believe that TLIP's mission is not only to sell its industrial park sections, but to respond to clients' needs, which can change day to day. TLIP also offers the Thang Long Apartment Factory, a rental factory complex for Small and Medium-sized businesses (SMBs), complete with every necessary infrastructure including electricity, water supply. The complex is extremely popular among SMBs that desire to advance into overseas markets at a swift pace or with low initial investment. Leases are already signed for 10 of the 11 zones completed under the Phase I development in 2011, and an additional four zones are currently being constructed for completion in mid-2012.

TLIP's President Tomoyasu Shimizu displays his determination, saying, "We have been able to contribute to local communities by helping our clients to succeed, embodying our concept of the industrial park business. I am delighted that this achievement has been acknowledged by the government of Vietnam. The award recognizes the concerted efforts of all the staff involved in the development of TLIP, with whom I would like to share the delight. We have been greatly encouraged by the award, and feel inspired to strive toward creating even better industrial parks." The "rising dragon" will keep evolving into the future.

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