Japan is an important economic partner of Vietnam. Japan is the biggest ODA donor to Vietnam and the second biggest foreign investor with total investment capital of more than 60.2 billion USD.
As of August 2020, there were 4,500 valid projects of Japanese origin in Vietnam. The bilateral trade turnover of the two countries in 2019 reached nearly 40 billion USD.
Experts have given opinions that the Vietnamese market has great potential for attracting business and investment from Japanese companies. That does not only applied to large-scale companies but medium and small ones as well.
The long history of partnership between Japan and Vietnam has been a foundation for much successful business establishment of Japanese companies in Vietnam. Listed below are some of the most recognized Japanese brands by Vietnamese customers.
Since establishing its first branch in Vietnam in 1995, Acecook Vietnam Joint Stock Company has been enjoying the success of becoming the most known brand in the field of instant noodles. By 2018, Acecook had provided 96.4 million Vietnamese with around 5.2 billion meals. At that same time, Acecook took up 50 percent of the domestic share of instant noodles.
Acecook’s most known product in Vietnam is their flagship instant noodle called “Hao Hao”. The product became increasingly popular since it well-suited the taste of Vietnamese and had since helped Acecook earned the number one spot among many other contenders in the same field.
Ajinomoto Vietnam Co., Ltd was founded in 1991. At that time, the company was funded 100 percent by Japan, with an amount that came up to 8 million USD. Their headquarter, which was also their first manufacturing factory was erected in Dong Nai province.
Ajinomoto’s main products are seasonings, sweeteners, cooking oils, etc. Their best-known product in the Vietnamese market is the Ajinomoto Monosodium glutamate. Besides, other notable products include other types of culinary seasonings such as seasoning powder, mayonnaise, soy sauce, etc. Ajinomoto Vietnam has also dabbled in the field of beverage, processed food, and nutrition supplements.
Since its establishment in Vietnam in 1996, Honda Vietnam Company Ltd has always been a name that stands out when there are mentions about motor vehicles. Honda Vietnam was the result of a cooperation between the Honda Motor Co., Ltd in Japan, the Asian Honda Motor Co., Ltd in Thailand, and the Vietnam Engine And Agricultural Machinery Corporation (VEAM). Honda’s two main lines of product in Vietnam are motorcycle and automobile.
In more than 20 years in Vietnam, Honda has strived to become one of the leading companies in the field of motorcycle and automobile manufacturing in Vietnam. Having three factories over the country, each year Honda produces an average of 2.5 million motorcycles and 23,000 cars.
Honda motorcycles are very popular in Vietnam – a country where citizens travel mostly by motorcycles. In big cities like Hanoi and Ho Chi Minh city, 90 percent of traveling vehicle is motorcycles. To meet the rising needs of the domestic market, Honda has been giving their best effort to bring customers its best quality motorcycle products at reasonable prices, manufactured from eco-friendly factories.
Honda Vietnam was authorized for car manufacturing in 2005, and since then has been contributing greatly to the automobile market, providing three types of car: sedan, SUV, and MPV.
Toyota Motor Vietnam Co.,Ltd was erected in Vietnam in 1995, funded 70 percent by Toyota Japan, 20 percent by VEAM, and 10 percent by KUO Singapore.
Toyota is a strong contender in the field of automobile manufacturing in Vietnam; its manufacturing factories reached a production rate of 70,000 cars a year. As of 2020, the company had 695,424 units of automobiles sold in the market in total.
Originally formed in 1994 as a distributor of Mitsubishi Motors in Vietnam, Mitsubishi Motors Vietnam Co., Ltd. was one of the first joint-ventures of the country’s automobile market.
Mitsubishi Motors Vietnam has gone through more than 25 years of experience in the Vietnamese market, distributing six automobile models in Vietnam. In April 2021, Mitsubishi sold 3,268 units of automobiles.
Before its official establishment in 1971, Panasonic had made a presence in Vietnam since the 1950s. As of 2013, Panasonic Vietnam Co., Ltd had set up eight companies in the country, among which are five manufacturing companies operating in different fields.
Panasonic is one of the most recognizable names in the Vietnamese market, providing several services in many fields. The most notable would be electric household appliances with products such as washing machines, refrigerators, air-conditioners, etc.
Japanese companies have been shifting their trends of investment into Vietnam lately. Japanese retail and clothing brands are penetrating the Vietnamese market, looking to create a burgeoning business in Vietnam. Aeon is a retail brand from Japan that made a successful debut in Vietnam. The clothing brand Uniqlo is also attracting a lot of attention since its first appearance in Ho Chi Minh city at the end of 2019.
Compiled by VietnamCredit
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