The park has attracted more than US$1.2 billion in FDI, accounting for 2.5 percent of the country’s total FDI and 5.38 percent of Hanoi’s figure, said Pham Van Loc, vice director general of the Thang Long Industrial Park Corporation, a joint venture between Japan’s Sumimoto Corporation and Dong Anh Mechanical Company under the Ministry of Construction.

Fifty-five foreign businesses, mainly from Japan, have decided to invest in the park to produce electronics with hi-tech lines.

The modern park covering 300 ha in northern Hanoi has provided jobs for 35,000 people and is expected to create jobs for an additional 15,000 people, Mr Loc added.

He attributed this success to Sumitomo’s prestige and experience as well as assistance from Hanoi authorities, for example in site clearance.