Japan leading firm to expand investment in Vietnam Illustrative image (Source: xmjb.com.cn) Japanese leading motor manufacturer NIDEC Corporation plans to expand its business in Vietnam and raise its investment to over 1 billion USD from 600 million USD currently.  According to NIDEC Chairman Shigenobu Nagamori, the firm will set up five additional subsidiaries in Vietnam with the goal to turn the country into not only a manufacturing hub but also a leading technology research centre in the region. Within its business strategy with a vision for as far as the next 50-100 years, the firm will bring the latest technology in the field to Vietnam, while extending it operation beyond production to research and development (R&D) activities as well as building a distribution network and enhancing human resources training, he said. NIDEC also plans to establish a Southeast Asian network with Vietnam playing the central, he said, adding that the corporation will send Vietnamese workers to Japan for training to meet the demand of its R&D centres. Established in 1973, NIDEC Corporation has presented in Vietnam since 1990. The corporation’s 69 year-old Chairman of the board, President and CEO has been ranked 23rd among the 50 richest people in Japan in 2013 by Forbes magazine.-VNA