Japanese billion-dollar enterprise wants to expand production in Vietnam

On the evening of May 19, in Hiroshima, during his working program in Japan, Prime Minister Pham Minh Chinh received Mr. Fujimoto Masayoshi, General Director of Sojitz Group.

Doanh nghiệp tỉ USD của Nhật muốn mở rộng sản xuất tại Việt Nam - Ảnh 1. — Prime Minister Pham Minh Chinh received Mr. Fujimoto Masayoshi, General Director of Sojitz Corporation.

Sojitz Corporation (2003) was established through the merger of Nissho Iwai and Nichimen Corporations, operating mainly in the fields of trade and investment. Currently, Sojitz has about 350 subsidiaries and 140 joint ventures with nearly 20,000 employees worldwide. In 2022, the group's revenue and profit reached 2,480 billion yen (18.2 billion USD) and 111 billion yen (817.8 million USD), respectively.

In Vietnam, Sojitz has 17 joint ventures with revenue of about 1 billion USD in the fields of equipment (ITC, power plants, motorcycle spare parts), energy (gas and coal), chemicals (storage, plastics, rare earth), industrial parks and agriculture and forestry (animal feed, fertilizer, afforestation, wood...), paper production and BOT projects Phu My III, Vietnam - Japan Fertilizer Company...

At the meeting, Mr. Fujimoto Masayoshi expressed his commitment to strong, long-term investment in Vietnam. The group has some ideas to expand investment activities in Vietnam in the near future in the fields of industrial parks, renewable energy, etc.

Notably, the leader of Sojitz Group said that currently many Japanese enterprises, including large enterprises, are looking to expand production in Vietnam or shift production to Vietnam. There are about 70 enterprises that are looking into the possibility of Sojitz opening more industrial parks in Vietnam.

Prime Minister Pham Minh Chinh highly appreciated Sojitz’s positive and effective contributions to Vietnam over the past years; welcomed Sojitz’s expansion of investment in the industrial park sector in Vietnam. This is a field in which Japan has experience and strengths, and is also consistent with Vietnam’s orientation of cooperation and selective foreign investment attraction.

The Prime Minister also asked Sojitz to continue expanding investment in industrial park ecosystems, acting as a bridge to promote Japanese enterprises with resources in capital, technology, and management capacity to invest and do business in Vietnam, contributing to bringing Vietnam deeper into the global supply chain...

Source link