Saturday, November 10, 2007

Japan's Sumitomo Corporation starts operation in Vientam

Japan’s Sumitomo Corporation has inaugurated the Sumitomo Corporation Vietnam Ltd. Co. with a charter capital of 10 million USD and an investment capital of 30 million USD.

At the inauguration ceremony held in Ha Noi on November 8, Sumitomo Corporation’s President Motoyuki Oka said that Japan’s direct investment capital in Vietnam reached 1.3 billion USD in 2006, a year-on-year rise of 40 percent.

The result was attributable to the finalisation of the country’s legal system, he said.

The company would do its utmost to promote the Japan-Vietnam cooperative relations and hoped to receive continued support and assistance of the Vietnamese Government, he stressed.