Vinh Phuc Grants Investment Licence to TOTO Vietnam

10:28:45 AM | 19/11/2020

On the occasion that Japanese Prime Minister Suga Yoshihide and his wife paid an official visit to Vietnam at the invitation of Prime Minister Nguyen Xuan Phuc, in the framework for document exchange between Vietnamese and Japanese agencies and localities, Mr. Le Duy Thanh, Chairman of the Vinh Phuc Provincial People's Committee, awarded the investment certificate to Mr. Hiroyuki Suzuki, General Director of TOTO Vietnam Co., Ltd.

Welcoming TOTO Vietnam Co., Ltd to make an official investment in Vinh Phuc, Mr. Thanh emphasized that Vinh Phuc is one of four localities with best infrastructure and conditions for industrial development in Vietnam and always stands among the top performers of investment attraction and industrial development. At present, the province has over 400 FDI investment projects, with US$3 billion of foreign direct investment (FDI) capital licensed in 2015-2020.

Affirming that Vinh Phuc will provide the most favorable conditions for investors in general and investors from Japan in particular to deploy their investment projects in the province, he hoped TOTO Vietnam Co., Ltd would complete necessary legal procedures to start construction of the plant as soon as possible.

TOTO Vietnam Co., Ltd is subordinated to TOTO Group of Japan, which manufactures building materials. The company started investing in Vietnam in 2002 with two factories in Dong Anh, Hanoi and two factories in Hung Yen, and employed 5,000 workers. Vinh Phuc is the third destination and one of the most promising factories of TOTO Group in Asia.

By Nguyet Tham, Vietnam Business Forum

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