Mitsubishi to expand investment in Vietnam

11:33 | 31/07/2014 Economy

(VEN) - Mitsubishi Heavy Industries, Ltd. President, CEO Shunichi Miyanaga said that the company was catching up opportunities to invest in the power sector and adopting strategic directions for manufacturing products in Vietnam serving exports at a meeting with Minister of Industry and Trade Vu Huy Hoang on July 22.

Mitsubishi became the world’s first aircraft component manufacturer in Vietnam in 2007

Shunichi Miyanaga said that to ensure long-term and sustainable cooperation with Vietnam, in addition to participating in export-import activities, it was necessary to build and develop new plants that can bring many positive effects. With this strategy, after 13 years of the establishment of a representative office in Vietnam (1994), Mitsubishi opened a factory in the Hanoi’s Thang Long Industrial Zone with a total registered capital of US$7 million and became the world’s first aircraft component manufacturer in Vietnam.

A factory specializes in providing Boeing 737 fin. Shunichi Miyanaga said that 90 percent of flaps on the Boeing were made in Vietnam, significantly contributing to the development of the aviation sector. In the coming time, Mitsubishi is also planning to expand investment in Vietnam. In addition to meeting domestic demands, Mitsubishi also desire to bring products to participate in the global supply chain.

Mitsubishi has also paid special attention to the development of the power sector. In terms of nuclear energy, Mitsubishi is conducting research and proposing the application of high technology in the Ninh Thuan 2 Nuclear Power Plant. Shunichi Miyanaga said that Mitsubishi was completely confident about the safety and verification of products.

Minister of Industry and Trade Vu Huy Hoang highly appreciated Mitsubishi’s production and business activities in Vietnam, especially effective investment in Hanoi’s Thang Long Industrial Zone. The minister completely agreed with the company’s development strategies, contributing to bringing products manufactured in Vietnam to the global market.

Mitsubishi Heavy Industries, Ltd. is a leading company in the world dedicated in providing solutions for the power sector, infrastructure development, smart transport system, nuclear power and waste treatment.

Minister of Industry and Trade Vu Huy Hoang added that Japanese Prime Minister Shinzo Abe and his counterpart Nguyen Tan Dung together with ministries and departments such as Japan’s Ministry of Economy, Trade and Industry (METI) and Vietnam’s Ministry of Foreign Affairs and Ministry of Industry and Trade discussed and achieved many positive results in the preparation for construction of the nuclear power plant. The most important content is the choice of technology for a nuclear reactor.

To ensure safe solutions at the highest level, the minister also expressed his views in the selection of modern technology. Vietnam will closely coordinate with Japan to soon complete the selection./.

By Hoa Le