Japan valve producer Kitz launches $25 mln factory in Vietnam
Japan’s valve producer Kitz on Tuesday inaugurated a $25 million factory in the northern province of Vinh Phuc, its first plant in Vietnam.
The 3.4-hectare factory in Thang Long Vinh Phuc Industrial Park has an annual output of 95,000 stainless valves.
Kitz inaugurates Vietnam factory in Vinh Phuc province, northern Vietnam on December 10, 2024. Photo courtesy of Vinh Phuc newspaper.
Speaking at the event ceremony, Vinh Phuc Vice Chairman Nguyen Khac Hieu highlighted Japan as a key foreign investor in the province, with notable names like Toyota, Honda, Sumitomo, and Sojitz.
So far, the province has attracted 61 foreign direct investment (FDI) projects from Japan, with total registered capital of $1.86 billion.
Hieu called on Japanese firms to further invest in the province, focusing on workforce training, digitalization, green and circular economy. The province will facilitate investments of Japanese firms, he added.
KITZ is a comprehensive valve manufacturer, with factories in mainland China, Taiwan, Thailand, Spain, Germany, Brazil, India, and South Korea, prior to the Vietnam one.
The establishment of the Vietnam plant aims to ensure a stable supply and avoid geopolitical risks by diversifying production locations, according to Kitz.
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