Electrical engineering firm Sumitomo Densetsu sets up Vietnam unit to capitalize on demand for facilities and equipment
HO CHI MINH CITY, NNA - Japanese electrical engineering firm Sumitomo Densetsu Co. has established a subsidiary in Vietnam to capitalize on the demand for facilities and equipment in Southeast Asia while consolidating its foundation in the Mekong region with Thailand at its core.
Sumitomo Densetsu said in a statement Monday that the subsidiary, Sumisetsu Vietnam Co., was founded in Ho Chi Minh City this month with a capital of $3.6 million, owned 100 percent by the parent company. The subsidiary will be engaged in the construction of electric facilities, machinery, equipment, and the installation of production facilities as well as the export and import of materials.
“Even in Vietnam, we will try to meet the needs of local plants owned by Japanese companies with operations in areas such as the construction of electric facilities and machinery and equipment,” a Sumitomo Densetsu spokeswoman told NNA on Tuesday.
Sumitomo Densetsu’s Thai subsidiary, Thai Semcon Co., was founded in 1985 and it established a branch in Cambodia in 2011 and another in Myanmar in 2017 to spearhead projects in the Mekong region. With the addition of the base in Vietnam, the company aims to secure more business from customers in the region.
Under its four-year medium-term management plan, which ends in this fiscal year, Sumitomo Densetsu strives to expand overseas businesses, strengthening its key bases in Indonesia, Thailand, and the Philippines as well as advancing to countries surrounding them.