Japan’s Nidec to expand operations in the north

HA NOI— The Nidec Corporation of Japan planned to expand operations in northern Viet Nam, said President of the group Shigenobu Nagamori while meeting President Nguyen Minh Triet yesterday.
Shigenobu said the group would build more plants in Ha Noi to supply electronic components for its customers who were already located in Viet Nam, including Cannon in the Thang Long industrial park in Ha Noi.
Viet Nam’s investment procedures had become clear in recent times and this has strongly encouraged foreign investors, said the Japanese guest.
The corporation had invested US$156 million in four projects in HCM City which were in operation and had helped make Viet Nam Nidec’s second largest investment destination in Asia, Shigenobu said.
President Triet said Viet Nam always welcomed foreign investors - Japanese investors in particular.
Triet said Viet Nam was still poor, lacked funds and management experience and therefore needed foreign investors’ assistance for development, Triet said.
The State and government of Viet Nam were improving the business environment aimed at making the country an attractive destination for foreign investors, he said.
Viet Nam always showed respect to foreign investors and was ready to facilitate their operation, thus making more contributions to socio-economic development throughout the country, the Vietnamese President said.
Nidec is one of the world’s leading producers of hard disk drives, optical disk drives and DC motors. The company has 89 factories with some 120,000 staff, not including those working at its two plants at the HCM City-based Tan Thuan Export Processing Zone. — VNS