Panasonic will build a U.S. $76.4 million in Vietnam's Thang Long Industrial Park (IP) in Hanoi to produce automatic data processing machines, office equipment and communication products, all for export.
The project is part of the company's strategy to turn Vietnam into a new manufacturing hub for Panasonic-branded products in Asia. Panasonic last year became the first foreign holding company in Vietnam and it now has three subsidiaries in the country.
The first is the $8 million, Ho Chi Minh City-based Panasonic AVC Networks Vietnam, an audio and visual appliances manufacturing joint-venture established in 1996, in which Panasonic holds a 60 percent share. The second is the $23 million, wholly-owned Panasonic Home Appliances, and the third, Panasonic Communication. Most of the three subsidiaries' output is consumed in the domestic market. (Thanh Nien Daily)
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