Workers operate machinery at Nidec Sankyo Vietnam Corporation in SHTP, District 9, Ho Chi Minh City. Photo: tuoitrenews.vn
Nidec Corporation, a Japanese manufacturer of electric motors, will continue to expand operations in Vietnam, including the construction of a research & development (R&D) center in the Saigon Hi-tech Park (SHTP), the Saigon Times Online cited a senior executive as saying.
Nidec will also build a manufacturing facility in the park, Go Watanabe, first senior vice president of the firm, told the city’s Mayor Nguyen Thanh Phong at a meeting late on Monday.
Wantanabe did not elaborate on the size or capital of the project.
The local government will support Nidec in its expansion while universities in the city are capable of meeting the firm’s demand for labor force, said Phong.
Nidec have carried out five projects in the precision mechanics with a combined investment of over $380 million in SHTP, said Le Hoai Quoc, head of the park’s management board.
The Japanese firm earlier unveiled a plan to invest between $1.5 billion and $2 billion in Vietnam till 2015, of which $1 billion would be allocated to Ho Chi Minh City. Besides the five projects in SHTP, Nidec has three other plants in Tan Thuan Export Processing Zone.