On November 13, Sojitz Corporation (Sojitz) and Vietnamese real estate developer Long Thanh Golf Investment and Trading JSC (GLT) signed a MoU for the joint development of Long Duc 3 Industrial Park.

In Vietnam, there is an ever-increasing need to expand the manufacturing industry to both grow export processing and respond to anticipated growth of the domestic consumer market against the backdrop of the China+1 strategy and restructuring of corporate supply chains, among other significant changes in the manufacturing industry concurrent with growing demand.

Dong Nai has already gained an early start in the process of attracting manufacturers to the region and developing a manufacturing centre in the province to ensure firms can easily expand their operations to Vietnam. Additionally, Dong Nai is highly accessible via Long Thanh International Airport and is garnering attention as a new manufacturing hub due to its various modes of transportation and road infrastructure.

Sojitz has been involved in the development and operation of Long Duc Industrial Park since 2011. All available lots at Long Duc Industrial Park were sold out in 2019 and 70 companies (of which 59 are Japanese) now occupy the facilities.

Long Duc 3 Industrial Park is located close to Long Duc Industrial Park and is easily accessible by car from central Ho Chi Minh City with a 45-minute (approximately 35 km) drive. At the same time, the park also offers convenient logistics access to southern ports as an optimal location for companies seeking to expand their business to Vietnam.

GLT was established in 2005 and has an extensive business development record of utilising local capital to handle large-scale urban development, golf course development, condominium development, and renewable energy development projects.

Sojitz boasts over 20 years of experience operating industrial parks in Vietnam, Indonesia, India, the Philippines, and Thailand. In Vietnam, Sojitz has already participated in the development, sales, and operation of two existing IPs in Dong Nai province.

Leveraging this experience, Sojitz will develop Long Duc 3 Industrial Park as a next-generation industrial park that contributes to the realisation of a decarbonised society, and Sojitz will continue to accelerate the expansion of the manufacturing industry while contributing to economic growth and providing solutions to social issues in Vietnam.