The corporation has been operating in Vietnam for years with Nippon Steel Trading playing a major role in the steel industry, exporting, importing, processing and trading with Vietnam . The Nippon Steel Pipe Vietnam Company built a factory to produce steel pipe in the southern coastal province of Ba Ria – Vung Tau last year.
Japan’s consul general in Ho Chi Minh City, Hida Harumitsu commended Nippon Steel Engineering’s new office, saying he believed that opening it was a positive move and will help contribute to the local economy’s development.
The director of Nippon Steel Engineering, Takahashi Makoto, revealed that the Nippon Steel Corporation has set a target of increasing the growth rate of its overseas turnover by 40 per cent by 2015, last year’s rate being 20 per cent. This will speed up the corporation’s overseas operations, which is the primary objective.
He underlined the potential the Vietnamese market holds and said that establishing the Ho Chi Minh City office will enable the corporation to realise its plans.
The corporation, which, produces all kinds of pipe and equipment for the oil and gas industries as well as supplying the construction sector, has also set up offices in many other countries, such as ASEAN nations, China, India, Brazil, and in Europe.