25 Sep Matsuoka Corporation decides to expand its investment in Phu Ha IP – Viglacera
On 22/09/2016, Matsuoka Corporation held a solemn inauguration ceremony of Phu Tho Matsuoka Ltd. and announced its further investment in Phu Ha IP, Phu Tho province. Mr. Nguyen Thanh Hai, Vice Chairman of Phu Tho province, leaders of local sectors, representative of Viglacera, and Matsuoka’s key partners, clients attended the ceremony.
Matsuoka Corporation is a Japanese leading garment business, a partner of well-known brands such as Uniqlo, Tore, and Korabu. Its annual sales is up to 57 billion yen (~ USD 530 million), ranking first in Japan and 11th in the world with 17 factories located in several countries such as China, Bangladesh, Myanmar. Aiming to be among the world’s Top 10 garment and textile businesses, Matsuoka Corporation has expanded to Vietnam, established Matsuoka Phu Tho Ltd. in Phu Ha Viglacera IP. This company has an area of 60,000 m2, annual capacity of 7 million products that are mainly exported to Japan.
Mr. Matsuoka Noriyuki, Matsuoka chairman’s opening remarks
Mr. Matsuoka Noriyuki, chairman Matsuoka said: “In 2016, Matsuoka factory in Phu Ha IP, Phu Tho province was constructed and put into operation. It has an annual capacity of 1 million products, employs 500 local workers. After 1 year of trial operation, thanks to the prime location, abundant skilled labor source, and great support from Phu Tho authorities and Viglacera, our operation has been stable and grown. Therefore, we decided to expand our factory in Phu Ha Viglacera IP for another 50,000 m2, increasing the charter capital to USD 15 million under the business registration certificate No. 2600947533 amended on August 24, 2016. According to the plan, by 2018, the company will increase the annual capacity to 7 million products, create 3,000 jobs for local workers”.
In the inauguration ceremony of Phu Tho Co. Matsuoka, Viglacera Corporation’s representative, Mr. Nguyen Tri Dung congratulated and thanked the company for the investment in Phu Ha IP Matsuoka and committed to facilitate and accompany Matsuoka during the investment and operation. Viglacera hopes that, with the support from Phu Tho government agencies, Matsuoka Garment factory will be more and more efficient and successful, not only create more jobs for local workers and significantly contribute to the social economic development of the province, but also create spillover effects to attract more investors to Phu Ha IP.
Phu Ha IP’s construction was started in 2015. Now, with a synchronous, sufficient infrastructure and 50 ha of cleared land, the IP has received much attention from foreign investors, especially Japanese investors. In the coming time, Viglacera will continue to promote investment in Phu Ha IP, focusing on the Japanese market, garment and textile sector to effectively take advantage of the FTAs such as TPP, AJCEP, and VJEPA. Its 50 ha of cleared land is expected to be fully occupied in 2017 and 2018.