- Published on Friday, 28 September 2012 08:36
- Written by Staff Reporter
VIETNAM/JAPAN – Japanese printing and packaging conglomerate Dai Nippon Printing (DNP) is to build its second overseas production plant in Binh Duong province, on the northern outskirts of Ho Chi Minh City - VietNam’s key manufacturing and commercial center.
DNP plans to invest more than US$35 million in a plastic laminate film, printing and packaging materials production plant on a three hectare plot in Binh Duong’s My Phuoc 3 Industrial Park.
The plant, which is scheduled to begin operations by April 2013, is targeted to achieve an annual turnover of US$62.6 million (¥5 billion Yen) within five years by supplying packaging materials for domestic use and export to the Asian region.
Futoshi Hario, general manager of Dai Nippon Printing Company, told the state VietNam News Agency that the company had decided to build its second overseas factory in VietNam because of increasing demand for the products in the country.
DNP has been importing flexible packaging products to VietNam from its factory in Jakarta, Indonesia; however domestic and regional demand has grown to the point where an in-country facility has financially become viable.
According to Futoshi, the company chose My Phuoc 3 Industrial Park for its investment because of its proximity to the main population center of Ho Chi Minh City, direct access to Vietnam’s main export port, Saigon and the park’s well-developed infrastructure.
According to VietNam’s Ministry of Planning and Investment, Japan has emerged as the largest source of Foreign Direct Investment (FDI) for Viet Nam this year, with investments of US$2.36 billion in the first four months or 2012, accounting for 70 per cent of the total FDI inflow.
Le Thanh Cung, chairman of the Binh Duong People's Committee, told the state news agency, that the province had received 167 projects from Japanese investors with a total investment capital of $3.114 billion. The number of Japanese investors was the biggest compared with other countries and territories in the province.