Panasonic considers investing more in Vietnam
Panasonic Vietnam will consider investing more in the country in the future, General Director Eiji Fukumori said at a ceremony in Ho Chi Minh City on January 7.
At the ceremony (Source: Panasonic)According to Fukumori, Vietnam’s household electronics market is very promising thanks to a young population, socio-political stability, massive influxes of foreign direct investment and an estimated economic growth of 6.6 percent for this year.
As a member of the Trans-Pacific Partnership and the ASEAN Economic Community, Vietnam will be among countries that benefit most, he said, adding that Panasonic targets to become the fastest-growing company in the consumer electronics sector by 2020 by tapping Vietnam’s advantages over joining a number of free trade agreements.
With such forecasts, Panasonic looks to earn 6 billion USD from global air conditioning sales by March 2019. In which Japan market account for 40%, the rest 60% are other countries. In asia, Vietnam is the second biggest market, just after Indonesia.
Last year, Panasonic’s sales of air conditioners for business use in Vietnam grew by approximately 151 percent, behind Malaysia (170 percent).-VNA
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