MMC Laos begins export production
MMC Laos begins export production
M itsubishi Materials Corporation (MMC) Electronics Laos Co. Ltd will start to export its electronics and spare parts production at the end of next month after the facto ry began operations last week.
The factory took almost eight months to build from when construction started last July, according to the company.
It is located on a two hectare (20,000 square metre) site in the park, of which the building itself covers about 7,000 square metres.
It is one of six factories located in the Vientiane Industry and Trade Area (VITA) Park which are exporting their products.
The company has already invested more than US$10 million in the factory's construction and in buying machinery for producing its electronics equipment.
The company has designed the factory to produce around 100,000 units a month for export, most of the products being thermo sensors.
The factory has 80 employees and needs a further 100 people to operate at full capacity.
MMC is a Japanese company and world leader in the production of ceramic electronic components and advanced electronic materials.
It is also a manufacturer of cement-based construction prod ucts, copper and aluminum and cemented carbide tools.
Total worldwide company revenue exceeds US$100 billion a year, MMC President Mr Hiroshi Yao told everyone gathered for the grand opening ceremony.
After completing the construction work, the company will initially focus on human resource capacity development in producing good quality products for export, he said.
There are many potential Japanese investors looking to invest in Laos especially in the special zones. About 120 Japanese companies have already invested in Laos, since the government gave the green light to domestic and foreign investment, seeing the potential here and recognising the good investment policies as well as the peaceful nature of the country.
MMC is a major Japanese electronics and spare parts producer, which has given jobs to many thousands of people around the world.
The Lao government believes that the factory will increase job availability to Lao workers and develop their skills ready for competition after Asean Economic Community integration.
So far, the value of goods imported into the park has reached US$30.5 million, while exports have climbed over US$11 million and the park has created jobs for more than 1000 people, of which only about 30 are foreigners, a park official reported.
The factory opening ceremony was attended by Deputy Minister of Planning and Investment, Dr Khamlien Pholsena, Deputy Minister of Industry and Commerce, Mr Bounmy Manivong, Japanese Ambassador to Laos, Mr Hiroyuki Kishino along with relevant officials and company representatives.
