Mitsubishi Electric to establish Vietnam JV to produce factory automation items
Mitsubishi Electric Corporation, the electronics and electrical equipment arm of Japanese conglomerate Mitsubishi, is set to launch Mitsubishi Electric FP Automation Vietnam, a joint venture in the Southeast Asian country for the manufacturing of factory automation items.
In a Friday statement, Mitsubishi Electric said it would conduct the move by acquiring an 80% stake in Fuji Bakelite Vietnam Co., Ltd., a Hanoi-based subsidiary of Japan-based Fuji Bakelite Co., Ltd.
The new joint venture is set for establishment on June 1 and will begin production of air circuit breakers from January 2025, in addition to a production line of small low-voltage circuit breakers.
An illustration of Mitsubishi Electric factory in Hanoi. Photo courtesy of Mitsubishi Electric.
The joint venture will leverage Fuji Bakelite Vietnam’s skilled workforce and expertise in manufacturing and quality control in Vietnam, Mitsubishi Electric said. The new facility, located in Thang Long Industrial Park II invested by Japanese giant Sumitomo, is set to employ 400 people, the Japanese firm added.
Mitsubishi Electric has been expanding its factory automation business in ASEAN by exporting products manufactured mainly in Japan. The joint venture will enable Mitsubishi Electric to build a production system for low-voltage circuit breakers and further expand the factory automation business by enhancing product supply capabilities.
The demand for factory automation items is expected to increase robustly in Vietnam, Thailand, Indonesia, and Malaysia, where strong economic growth is forecast, Mitsubishi Electricity stated.
- Related News
- Read More
Construction major Xuan Truong looks to build airport in northern Vietnam
Xuan Truong, a prominent Vietnamese construction firm, has proposed developing an international airport in Nam Dinh province, which will be merged with Ninh Binh and Ha Nam provinces this year.
Infrastructure - Thu, June 19, 2025 | 4:56 pm GMT+7
International financial center to significantly facilitate global capital access for Vietnam: StanChart exec
An international financial center could significantly improve access to global capital for Vietnamese enterprises, especially if it is managed by a unified regulatory body, said Nguyen Thuy Hanh, CEO and head of Banking and Coverage at Standard Chartered Vietnam.
Economy - Thu, June 19, 2025 | 4:09 pm GMT+7
Southern Vietnam's incomplete VSIP Can Tho Industrial Park attracts $300 mln in FDI
VSIP Can Tho Industrial Park, located in the Mekong Delta city of Can Tho, has attracted four tenants, with total registered investment capital of $300 million, despite it still being under construction.
Industrial real estate - Thu, June 19, 2025 | 3:09 pm GMT+7
AIA honors outstanding healthiest schools - Season 3
Sowing the seeds of healthy living habits for future generations is the inspiring goal of the AIA Healthiest Schools (AHS) initiative, launched by AIA Group across the Asia-Pacific region.
Companies - Thu, June 19, 2025 | 1:47 pm GMT+7
Indonesia, EU establish special desk to boost European investment
Indonesia and the EU have established a special desk to facilitate investment from EU countries in Indonesia, according to Indonesia's Investment Minister Rosan Roeslani.
Southeast Asia - Thu, June 19, 2025 | 1:22 pm GMT+7
ASEAN reaffirms commitment to advancing green energy agenda
The 43rd ASEAN Senior Officials Meeting on Energy (SOME), held from June 16-18, marked a significant milestone as member states reached consensus on key strategic agendas to deepen regional energy cooperation.
Southeast Asia - Thu, June 19, 2025 | 1:19 pm GMT+7
Thailand to submit formal trade proposal to US
Thailand's Deputy Prime Minister and Finance Minister Pichai Chunhavajira confirmed on Tuesday that the country will submit its formal trade proposal to the U.S. this week, with the first round of discussions to take place online.
Southeast Asia - Thu, June 19, 2025 | 1:15 pm GMT+7
Vinhomes subsidiary plans $35 mln golf course in northern Vietnam
A subsidiary of leading housing developer Vinhomes (HoSE: VHM) plans to build a VND886.5 billion ($35 million) golf course in Vietnam’s northern coastal province of Quang Ninh.
Real Estate - Thu, June 19, 2025 | 1:08 pm GMT+7
More AI will be used to identify tax fraud: Vietnam Minister of Finance
More artificial intelligence (AI) will be used to detect tax fraud and verify income of organizations and individuals that arises from digital platforms, said Minister of Finance Nguyen Van Thang.
Economy - Thu, June 19, 2025 | 12:12 pm GMT+7
HCMC set to become Southeast Asia’s global megacity: Party leader
Ho Chi Minh City will become "a global megacity of Southeast Asia" after its meger with Binh Duong and Ba Ria-Vung Tau provinces, said Vietnam’s Party chief To Lam.
Economy - Thu, June 19, 2025 | 8:20 am GMT+7
Proactively managing risk in volatile times
For business leaders, the question is not whether the next disruption will come, but whether your organizations will identify and adjust the risks that it brings, writes Douglas Matheson, chief risk and compliance officer at HSBC Vietnam.
Consulting - Thu, June 19, 2025 | 7:47 am GMT+7
Savills expert points out three drivers of FDI attraction in Vietnamese real estate
Vietnam’s real estate market is on the cusp of a boom in H2, fueled by sweeping legal reforms, proactive economic diplomacy, and a pivot toward emerging segments and flexible partnership models, said head of investment consulting at Savills Hanoi Nguyen Le Dung.
Companies - Wed, June 18, 2025 | 10:48 pm GMT+7
Petrovietnam, Petrolimex, Vingroup named Vietnam's biggest firms in Fortune ranking
Petrovietnam, Petrolimex, Vingroup, BIDV bank, and Agribank are among the 50 biggest companies in Southeast Asia, according to the Fortune Southeast Asia 500 Ranking 2025.
Economy - Wed, June 18, 2025 | 9:47 pm GMT+7
Korea Land and Housing Corporation eyes urban area project in northern Vietnam
Bac Ninh province's authorities on Wednesday met with Korea Land and Housing Corporation (LH) to discuss an urban area project in the southeastern part of Bac Ninh town, capital of the northern province.
Companies - Wed, June 18, 2025 | 8:58 pm GMT+7
Germany's GEO Group to develop $50 mln renewable energy workforce training center in Vietnam
Germany's GEO Group has announced a $50 million investment to establish a renewable energy workforce training and development center in the south-central province of Binh Dinh.
Companies - Wed, June 18, 2025 | 8:39 pm GMT+7
H&M, Nordic businesses seek suppliers in Vietnam
Swedish multinational fast fashion retailer H&M and other Nordic businesses will send a delegation to the Vietnam International Sourcing 2025, slated for early September in Ho Chi Minh City, to seek business partnerships.
Companies - Wed, June 18, 2025 | 8:20 pm GMT+7
