Panasonic Vietnam announced the Grand Opening ceremony for its two new manufacturing operations: Panasonic Communications Vietnam and Panasonic Electronic Devices Vietnam.

Panasonic Communications Vietnam (PCV) makes high-tech electric and electronic products, and Panasonic Electronic Devices Vietnam (PEDV) makes electronic components.

Both PCV and PEDV are located in the Thang Long Industrial Park, Dong Anh district, Hanoi, Vietnam. The facilities were built last year. Panasonic Vietnam (PV), the pilot holding company of Panasonic Group companies in Vietnam, is the first foreign investor approved by the Vietnamese Government to establish a holding company with 100% foreign-owned capital.

Currently, the new facility is providing office and manufacturing areas for Panasonic Vietnam (the Holding company), Panasonic Communications Vietnam (subsidiary) and Panasonic Electronic Devices Vietnam (subsidiary).

Panasonic Communications Vietnam produces high-tech electric and electronic products such as PBXs and Optical disk driver, with approximately three hundred employees; Panasonic Electronic Devices Vietnam produces tuners, encoders, and speakers with approximately five hundred employees, as of March 31, 2007. The products of both companies are for export. The operation will continue to expand, and the employees are expected to count approximately eight thousand by 2009.

Before the establishment of the Holding company, Panasonic was operating in Vietnam with two companies. Panasonic Home Appliances Vietnam was established in 2003 in Hanoi, responsible for manufacture and sales of home appliance products. Panasonic AVC Networks Vietnam was established in Ho Chi Minh City in 1996 for manufacture and sales of audio visual products such as color TV sets.