The factory of Sakura Color Products Vietnam in Binh Duong province on November 22 (Photo: VNA)

Binh Duong (VNA) – Sakura Color Products Vietnam inaugurated its factory producing crayons and pens in the southern province of Binh Duong on November 22.

The factory has a total investment of over 800 million JPY (7.14 million USD), funded by Sakura Color Products Vietnam, a subsidiary of Japanese Sakura Group. It sits on 1.5 hectares in the Vietnam – Singapore Industrial Park II.

The company is expected to earn 100 million JPY (862,600 USD) in 2018, and 700 million JPY (6.25 million USD) in 2021.

The first batch of crayons and pens is expected to be shipped to Japan and regional nations in February, 2018.

Yamashita Takanori, Director of Sakura Color Products Vietnam highlighted Vietnam’s favourable conditions for Japanese investors, saying that it is a member of the World Trade Organisation and has numerous trade agreements with Japan. He suggested Vietnam improve infrastructure.

Vietnamese labourers are young and industrious, he said, but, pointing to the fact that the rate of workers quitting jobs before their contracts expire is high.

Tran Thanh Liem, Chairman of the provincial People’s Committee hailed the company’s investment, expressing his belief that it will expand operation in the locality.

He hoped that it will encourage more investors, particularly those from Japan to run business in Binh Duong.

Liem pledged to offer favourable conditions for investors in general and the company in particular to operate effectively.-VNA