In January 2021 the Construction Material Group of the T. Chatani & Co., Ltd. made a joint investment with Ube Construction Materials Co., Ltd. and Koatsu Gas Kogyo Co., Ltd. in order to develop markets and strengthen product sales in Southeast Asia where economic development is proceeding at a rapid pace. This joint venture is UBE CT Construction Materials Vietnam Co., Ltd., which has been established in Ho Chi Minh City, Vietnam to promote the sale of waterproofing materials, and construction materials. This company is scheduled to commence business after two months, in March.
According to the latest report released by the World Bank in Autumn 2020, it is predicted that the growth rate of the Vietnamese economy in terms of GDP will be around 2.8% in 2020. Since the world has been affected by the spread of the novel Coronavirus and global forecasts are for negative growth, the positive growth forecast for Vietnam is a surprise which underscores the great potential for Vietnam’s future economic prosperity.
The Construction Material Group of T. Chatani & Co., Ltd. has established this subsidiary in order to market our products and to develop additional markets in Vietnam and other ASEAN countries such as Malaysia and Indonesia which are also seeing periods of rapid economic growth. We hope to introduce new technologies represented by our products with their excellent and unrivalled performance in areas such as waterproofing in order to help contribute to the prosperity of local companies and to promote the development of Southeast Asian countries.
We will continue to bring you news of the activities of the T. Chatani & Co., Ltd. Group Overseas Promotion Unit.