Japanese apparel-maker Matsuoka to build new plant in Vietnam
Matsuoka will establish a wholly owned subsidiary, Annam Matsuoka Garment Co., possibly in August to build and operate the new plant in the north central province of Nghe An.
The new plant will be Matsuoka’s fourth plant in Vietnam after establishing one in each of the northern provinces of Phu Tho and Bac Giang and in the southern province of Binh Duong.
Like the three other plants, the new plant will make apparel on an original equipment manufacturer basis, Matsuoka spokesman Michihiro Fukagawa said Tuesday.
Matsuoka hopes to begin operations in Nghe An at an early date, the spokesman said, while adding that details such as the plant’s launch date and production capacity have yet to be worked out.
The firm’s medium-term business plan calls for reducing its reliance on China to around 50 percent by March 2021 by shifting its focus to Vietnam from China, where production costs are on the rise, Fukagawa said.