Japanese Firms Keen on Vietnam's Building Materials Market

Japan’s high-ranking equipment and construction materials producers are very keen on the Vietnamese market, Vietnam News Agency said.

 

The Japanese companies said Vietnam’s rapidly-growing economy is creating a class of people with high income and is an attractive market to Japan-made luxury construction materials. 

 

Japan’s INAX has initially invested JPY1 billion (some US$8.3 million) in a wall-tile factory in the suburbs of Ho Chi Minh City. It is expected to begin operations in April 2008 and will increase its capacity from 500,000 sq.m in the first year to 3 million sq.m in the following years.

 

Japan’s leading electronic door lock manufacture, Miwa, is also planning to roll out a factory in Ho Chi Minh City by April 2008.

 

As of June 22, Japan poured more than US$8 billion into 819 projects in Vietnam, ranking the fourth among countries and territories investing in the Southeast Asian country. (VNA, VIR)