Japanese conglomerate to expand VN operations

Monday, Jul 15, 2019 08:13

The headquarters of Kyocera Vietnam in northern Hung Yen province. — Photo global.kyocera.com

Kyocera – a multi-sector group from Japan – plans to expand its operations in Viet Nam as it considers the country as one of its two most important production hubs in Asia.

The company had chosen Viet Nam for its stable socio-political environment as well as its large and hard-working labour force, Yasunobu Sanda, who oversees the company's Japanese and Asian section, told the Vietnam News Agency correspondent in Japan.

He added that the facilities in Viet Nam would play a vital role in helping Kyocera push its revenue to between two and three trillion Japanese yen (US$18.5–27.7 billion) in the future.

In 2011, Kyocera invested $320 million in building production facilities for electrical components and printing devices in Viet Nam. Since then, it has expanded its production scale annually.

Established in 1959, Kyocera Group consists of 286 companies worldwide, providing a diverse range of products such as advanced materials, components, devices, equipment, networks and services.

In the first half of this year, Japanese businesses poured $1.95 billion into Viet Nam, making Japan the fourth largest source of foreign investment in the Southeast Asian nation during the period among 95 countries and territories, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

As of June, 2019, Japanese investments in Viet Nam reached $57.9 billion, or 16.5 per cent of the nation's total foreign direct investment (FDI). With this impressive figure, Japan is Viet Nam's second largest source of FDI, behind South Korea. — VNS


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