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			PMA 2005 | Canon to build printer plant in Vietnam Canon announced that it will start construction of the world's largest laser printer plant in April in Vietnam's northern province of Bac Ninh. The Japanese company will invest 5 billion yen (about US$50 million) to build the plant in the Que Vo Industrial Zone, where it will produce low-cost laser printers for export worldwide. Canon Vietnam's planning department chief, Ogiwara Tadayuki, said the company has decided to build a new plant in Vietnam because its Chinese factories are operating at full capacity and the worldwide demand for low-priced laser printers is high. "We have also picked Vietnam because of its political stability, a liberalized investment environment and cheap labor. The country has quite a good future," Tadayuki said. Tadayuki said the new Que Vo-Canon laser printer factory, once built, will have a capacity of 8 million units a year. It will export 100% of its products, meeting up to 35% of the world's demand for laser printers. Canon supplies half of the world's laser printers, with its low-priced black-and-white laser printers mainly exported to Japan, the United States, Europe and other regions. In 2007, when the factory goes into operation, it will employ at least 3,000 people, Tadayuki said. Canon currently operates an ink-jet printer plant in Hanoi 's Thang Long Industrial Zone. That $176.7 million plant, which will employ 7,000 people next year, mainly exports its finished products. Canon exported its first printers from Vietnam in May 2002. Tadayuki said the establishment of the new plant could attract a number of Japanese and local suppliers to invest in Bac Ninh province. Japan was third-largest foreign investor to Vietnam last year, investing $224.35 million in projects around the country. The Ministry of Planning and Investment on Thursday forecast that foreign direct investment flows into the country could reach $1.3 billion to $1.4 billion in the first quarter, and more than $4.2 billion for the whole year. Related Canon links: back to PMA report 2005 » Canon Vietnam website