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Trade war

Sumitomo expands Vietnam industrial parks to tap trade war demand

$177m extension to aid Japanese manufacturers fleeing tariffs

Thang Long Industrial Park II is one of two sites that will be expanded, with groundbreaking on new land set for 2021.

TOKYO -- Japanese trading group Sumitomo Corp. will spend over 19 billion yen ($177 million) to expand two industrial parks in Vietnam, looking to serve businesses shifting production away from China to avoid the trade war.

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