The inauguration of the factory with its integrated Research and Development facility will enhance Panasonic Appliances Vietnam Co., Ltd’s role in the appliance business in ASEAN region
Hung Yen, 20th March 2013 – Today marks a milestone in Vietnam as Panasonic Appliances Vietnam Co. Ltd (PAPVN) inaugurates its new washing machine factory in Thang Long Industrial Park II, Yen My district, Hung Yen province.
The US$32 million factory, fully invested by Panasonic Corporation, is the first in Vietnam that integrates Research and Development (R&D) function with its manufacturing business.
The new factory will focus on the development of high performance washing machines which incorporates Panasonic’s advanced eco and smart technologies reflecting its commitment to environmental sustainability. The factory aims to achieve 50% of production for the local market and 50% for export to other ASEAN countries.
The inauguration of the washing machine factory is expected to bring economic growth, social benefits, and contribute to local employment. The manufacturing facility aims to provide hi-tech products which cater to local and regional needs. Local employees will also be trained and equipped with manufacturing expertise and technological know-how.
In 2007, Panasonic R&D Center Vietnam Co.,Ltd was established, focusing on the innovation and development of software and electronic products. With the opening of an additional R&D center in Vietnam, the facility functions as a launch pad for innovation of home appliances, developing cutting-edge products with advanced designs for Vietnam and other ASEAN countries.
“This year marks the 40th anniversary of the establishment of diplomatic relations between Japan and Vietnam, and PAPVN will also celebrate its 10th anniversary. We are delighted to open our new washing machine factory and R&D center in light of this commemorative year. We are committed to contribute to Vietnam’s economy by enhancing our role in the refrigerator and washing machine business in the ASEAN region. In addition to creating more job opportunities for the locals,” said Mitsuhiko Nakamura, General Director of PAPVN.
“We are impressed with Panasonic’s new establishment in Hung Yen Industrial zone. This factory not only invests in manufacturing, but also in the R&D field. R&D investments are important in Vietnam so as to transform the local industry into a modern and developed model step-by-step. The locals in Hung Yen too will greatly benefit from this initiative by Panasonic,” commented Mr. Dang Minh Ngoc, Vice Chairman of Hung Yen People’s committee.
Construction of the facility commenced in March 2012. The factory targets to reach manufacturing capacity of 600,000 sets of washing machines per annum and provide employment to around 300 locals by 2014. Panasonic Vietnam Group currently has a total workforce of over 7,200 locals.
The factory’s establishment strengthens Panasonic’s presence in the Vietnam market and contributes to economic growth of the country. It also serves as a milestone for Panasonic in its next stage of business expansion in this emerging market