. The Honda Vietnam Power Products Co., Ltd., is expected to begin operations this year with an estimated capital of US$4.1 million, focusing on import, wholesale and after-sales service of power products.— Photo st8.vn

HA NOI (Biz Hub) — Asian Honda Motor Co., Ltd. has announced plans to establish a new wholly-owned power products import and sales subsidiary in Viet Nam.

This will help deliver products with speed, affordability, high quality and low CO2 emissions for customers in the country, as market expansion is expected in the future. The Honda Vietnam Power Products Co., Ltd., is expected to begin operations this year with an estimated capital of US$4.1 million, focusing on import, wholesale and after-sales service of power products.

According to Honda's internal research, in 2013, industry-wide sales of power products (such as generators and engines) in Viet Nam reached approximately 380,000 units, showing steady expansion along with the increasing mechanisation of agriculture in the country. Honda operates a power-products business in Viet Nam, cooperating with local distributor Hoa Binh Corporation since 1994.

Once the new local subsidiary becomes operational, Honda will expand and establish a nationwide sales network that includes agricultural machinery sales stores, large-sized retail stores and machinery/equipment manufacturers (OEM makers) and strive to provide products and services which exceed the expectations of customers in Viet Nam. — VNS