Viet Nam - strategic destination for Japanese investors
Tokyo (VNA) - A bevy of Japanese companies are ramping up their investments in Viet Nam as part of a China-plus-one strategy that is designed to hedge against over reliance on the Chinese manufacturing platform, a recent Asahi weekly edition reported.According to the weekly, among Asian countries, Viet Nam has become a prime candidate for the shift on the back of an improved investment environment.
The weekly singled out Kikukawa Kogyo Co. President Yoshihiko Utsuno's assessment on Viet Nam's advantages of political stability, skilled workers and geographic location as prime reasons behind the moves.
Kikukawa Kogyo Co., has a factory in China, that produces distinctive stainless steel outer panels that grace the walls of dozens of offices worldwide. Most Kikukawa products are produced using computer-aided design (CAD) by the company's Japanese designers.
However, the company has announced plans to shift the CAD process to a new Kikykawa facility in Ho Chi Minh City. The decision was made following President Utsuno's visit to Viet Nam last September, the paper said.--Enditem
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