Mitsubishi Pencil Granted Investment License
December 15, 2000

Mitsubishi Pencil Co., Ltd. of Japan was licensed to setup a new company in Vietnam, Mitsubishi Pencil Vietnam Co., Ltd. This company is totally owned by Mitsubishi Pencil and specializes in writing instruments such as pencil, ball-point pen, etc. HE Vice Chairman of the Hanoi People's Committee Nguyen The Quang, on behalf of the Hanoi Industrial and Export Processing Zones Authority, has handed over the Investment License to the President of Mitsubishi Pencil Co., Ltd. Eiichiro Suhara on November 30, 2000 at the City Festival Hall.

According to Mitsubishi Pencil, the new Vietnam factory expansion is the right move to make their manufacturing more productive, with bigger capacity, lower cost without sacrifice of the quality. All of the product shall be exported to Japan. The company is scheduled to start the construction of the factory beginning of next year.

Mitsubishi Pencil Vietnam Co., Ltd., with the investment of USD2.7 mil., is the first Export Processing Enterprise in TLIP and the second tenant in this industrial park. The estimated turnover of the company would be USD2 mil. annually.

Photo:
HPC's Vice Chairman Nguyen The Quang Handed Over
The Investment License To MP's President Eiichiro Suhara