Starting as a young Vietnamese business, Manutronics has gradually grown up via 'handshakes' with giants in the industry and become an important key in the value chain of global corporations.
A number of East Asian countries have chosen electronics as the key to gaining incredible success and become an Asian 'tiger' economy. Some of the most successful nations include Japan, South Korea, Taiwan and later China. Thanks to Viet Nam’s policy of encouraging foreign direct investment (FDI), Samsung (South Korea) has selected Viet Nam as a global base with the prospect of moving part of its supply chain out of China. Viet Nam is currently the 12th largest electronic exporter in the world and third in ASEAN.
“That the world's leading electronics enterprises are showing up in Viet Nam such as Samsung, LG, Canon, Intel, Panasonic, etc. has led to the fact that a number of Vietnamese enterprises have become satellite enterprises - an important link in the global value chain, especially Manutronics”, said Luu Hoang Long, Chairman of Vietnam Electronics Industries Association (VEIA).
Manutronics’ trillions worth of deals
On December 2, Manutronics Vietnam announced its strategic co-operation with the two giants in the industry: Di - Nikko Engineering and Sojitz Vietnam. This sudden deal is said to be “killing two birds with one stone”, marking an important milestone in strengthening co-operation as well as promoting the partners’ strengths to improve their technological capabilities, quality management, and expand business markets with Japanese clients in manufacturing and assembling electronic products, especially spare parts for cars.
This strategic co-operation is the foundation and our commitment to take part in the cooperative venture with the parties in 2020 to achieve the sales target of US$30 million in the next five years, revealed Chu Thi Thu Phuong, Chairwoman of the Board of Manutronics.
“I believe in our co-operation and shall work closely with them to achieve our agreed goals and orientations,” said Phuong.
“In 2008, we established a subsidiary company in Ha Noi, Viet Nam, and we had been preparing for factory construction. However, in the same year, due to the financial crisis from the collapse of Lehman Brothers (US), we had stepped back from this plan. We are grateful to Manutronics for offering us an opportunity to expand our business in Viet Nam once again in 2019,” said Yamaguchi, Vice Chairman of the Board of Di-Nikko Company. He also said the signing of this strategic alliance will widely open the door for orders from Japanese companies, including clients for cars in Ha Noi.
Kinoshita, General Director of Sojitz Vietnam, said this would be a stepping stone for the market of four-wheel vehicles his enterprise has been preparing to launch.
The 'handshake' for reaching global market
Manutronics was established in 2003, formerly known as Duc Viet Company. Its two main products were optical discs and high-tech electronic assembly. Its initial strategy aimed at making big investment in research and development, application of cutting edge technology, and building a streamlined management system to offer the best quality products to fully meet clients’ requirements.
2013 saw milestones when the company officially acquired Manutronics-USA, a long-standing and prestigious brand in the US electronics industry. This was its most important turning point in its research and development investment of high-tech electronics manufacturing and assembly.
With its professionalism and confirmed financial capacity, right after its establishment, the company was chosen as a strategic supplier by a great number of giant corporations such as Canon, Brother, Samsung, Panasonic, Kawasaki, Qualcom, Giga-tronics, Flexstar and Proteus. Currently, the company is expanding high-tech electronic production and assembly, gradually getting involved in the electronics supply chain industry for Viet Nam-based wholly foreign-owned corporations and to reach regional and global markets.
With modern infrastructure, equipment systems, dedicated human resources and the understanding of the business culture of multinational firms, especially Japanese companies, Manutronics will work with Sojitz Vietnam and Di-Nikko Engineering to expand business co-operation and provide quality products to clients in electronic manufacturing and assembly in Viet Nam and worldwide markets.
Sojitz is one of the largest multidisciplinary corporations in Japan, with nearly 400 subsidiaries and associates. This group is also one of the first Japanese enterprises to invest in Viet Nam.
Stretching over more than 30 years of operation in Viet Nam together with the understanding of the local market and clients and extensive multidisciplinary co-operation are precious advantages for Sojitz to work effectively with Manutronics to expand and develop the Japanese market as well as support co-operation transactions.
Di-Nikko Engineering is a Japanese corporation with 40 years of development in the electronics industry and automotive equipment products. The company has factories in China and Thailand. Di-Nikko Engineering will work with Manutronics in technology transfer and production technology to expand the market and further meet clients’ requirements.