|A factory of Panasonic Corporation in the Thang Long II Industrial Park in the northern province of Hung Yen. The Japanese firm will officially inaugurate a new factory to manufacture electrical devices in the VSIP II-Annex Industrial Park in the southern province of Binh Duong on November 15. — Photo panasonic.com
HA NOI (VNS) — Japan's Panasonic Corporation has announced plans to expand its production of electrical devices in Viet Nam to meet rising domestic demand, Vietnamplus reported on Monday.
The corporation's member company, Panasonic Eco Solutions Vietnam Company Ltd, will inaugurate a new factory to manufacture electrical devices in the VSIP II-Annex Industrial Park in the southern province of Binh Duong on November 15.
The VND396-billion (US$18.8-million) factory is expected to produce about 30 million electrical devices such as sockets and power switches in the first year.
Takashi Ogasawara, President of Panasonic Eco Solutions Vietnam, told Vietnamplus online newspaper that the new factory will be set up because of rising demand in the Vietnamese market. — VNS