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Panasonic celebrates 100 years and announces plans in Vietnam

Released at: 09:47, 05/03/2018

Panasonic celebrates 100 years and announces plans in Vietnam

Photos: Linh San (VET)

Japanese corporation considering expanding investment in Vietnam following previous success.

by Linh San

The Panasonic Corporation is celebrating its 100th anniversary this year and now operates 495 subsidiaries and 91 associated companies worldwide. It is the global leader in the development of diverse electronics, technology and solutions for customers in the consumer electronics, housing, automotive, and B2B businesses.

During a meeting last week in Japan, Mr. Tetsuro Homma, Senior Managing Executive Officer and CEO, Appliances Company at Panasonic told VET that the company is considering expanding its investment in Vietnam.

“We have a lot of engineers working in Vietnam,” he said. “The company producing refrigerators and washing machines has reached a level where products can be designed in Vietnam by engineers trained in the country. We place a lot of expectations on the ability of Vietnamese engineers to learn and comprehend. In the future, we intend to expand Vietnam’s role in Panasonic’s manufacturing network in Asia.”

Mr. Tetsuro Homma, Senior Managing Executive Officer, CEO, Appliances Company, Panasonic Corporation

Vietnam’s refrigerator and washing machine brands have been strategically positioned for Panasonic in Asia. “The future of Vietnam will remain in this position,” Mr. Homma said. “Vietnam’s consumer electronics market is growing strongly and we expect Vietnam, Indonesia and the Philippines to see strong growth in economies of scale. So, we plan to move more air-conditioner production to Vietnam in the future.”

Since founded on March 7, 1918 by Mr. Konosuke Matsushita, Panasonic Corporation has followed the founder’s management philosophy of contributing to society and creating “a better life, a better world” through their business activities and improve the lives of people around the world and further progress society.

It began its business activities in Vietnam nearly 50 years ago, aiming to contribute to the country’s society through activities ranging from R&D, manufacturing, sales and distribution and corporate social responsibility.

Panasonic began manufacturing color TVs in Vietnam in 1996 and then invested in and developed five factories and an R&D center with total investment of $243 million and a workforce of approximately 8,000. Total ales turnover is estimated at $1 billion.

Its eco solutions factory in southern Binh Duong has been expanded twice to meet Vietnam’s growing market and for export.

Mr. Kazuhiro Matshushita, CEO of Panasonic Vietnam, told VET in a recent interview that: “We strongly believe that we can contribute permanently to improving the living standards of Vietnamese people and the country’s sustainable development, which is a strategic investment destination for Panasonic in Asia.”

Aiming at contributing to the growth of Vietnam’s economy through business expansion, Panasonic has committed to creating a better life for Vietnamese people. The company built a product strategy of “Made in Vietnam, Made for Vietnam”; investing in R&D in the country, working together and developing Vietnamese engineers and workers, customizing product features and utilities to meet local demand, and establishing high-quality products based on Japanese quality and technology.

Panasonic in Vietnam

1971: Panasonic present in Vietnam as Vietnam National Company (NAVINACO)

1995: First representative office opened, in Ho Chi Minh City

1996: Panasonic AVC Networks Vietnam established

2003: Panasonic Appliances Vietnam established

2005: Panasonic Vietnam established as a holding company

2006: Panasonic System Networks Vietnam and Panasonic Industrial Device Vietnam established

2007: Panasonic R&D Center Vietnam established

2012-2013: Panasonic Appliances Vietnam - Hung Yen Branch and Panasonic Eco Solutions Vietnam established

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