matsushita home appliances vietnam co., ltd.
June 16, 2003

 

 

Hanoi, 16 June 2003 - Matsushita Home Appliances Vietnam Co., Ltd. has been set up under the joint venture between Matsushita Electric Industrial Co., Ltd. (Japan) and Sumitomo Cooperation (Japan). The factory of this newly setup company is located in TLIP and this company becomes the twenty third tenant in TLIP. The I/L was awarded to the representatives of Matsushita Home Appliances Vietnam Co., Ltd. by Mr. Nguyen The Quang, Vice Chairman of Hanoi People's Committee and Chairman of Hanoi Authority for Export Processing and Industrial Zones (aka HIZA).

The new company is organized in the form of 100% foreign owned enterprise and will specialize in manufacturing and selling consumer electric products, home appliances, factory automation equipment, information and communication equipment, and housing related products. The lifetime of Matsushita Home Appliances Vietnam Co., Ltd. stipulated in the I/L is up to 2047. Around 80% of Matsushita Home Appliances Vietnam Co., Ltd.'s products will be exported and it is estimated that this company will use around 260 employees recruited from local labor force when it starts operation.

(Edited by IT Group of TLIP)

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