Sep. 13, 2005
Toyota Vietnam Commemorates 10th Anniversary with Plans
to Launch the Toyota Vietnam Foundation
Tokyo ― TOYOTA MOTOR CORPORATION (TMC) announced that Toyota Motor Vietnam Co., Ltd. (TMV) marked its 10th anniversary ceremony in Hanoi today with a plan to establish the Toyota Vietnam Foundation. TMV is TMC's automobile production and sales company in Vietnam.
TMC Vice Chairman Fujio Cho and TMV President Makoto Sasagawa attended the ceremony, along with many guests. During the event, Cho remarked, "This foundation promises to be actively involved in working together with the people of Vietnam to assist in creating a richer lifestyle for everyone." Also, in commemoration of TMV's 10th anniversary, TMC donated a new ambulance to Quang Nam Province.
Establishment of the Toyota Vietnam Foundation, to be chaired by Sasagawa, will begin with 4 million U.S. dollars (approximately 440 million yen: 110 yen/dollar), all of which will be contributed by TMV. The foundation will help contribute to society with a strong emphasis on education, while also lending support to TMV's existing program of scholarships available to university students, and will be established with the following objectives in mind:
TMV was established with the approval of the Vietnamese government in September 1995 by a joint venture between TMC, VEAM Corporation*1 and KUO Pte Ltd.*2 Production and sales have continued steadily since then, and TMV has held the largest market share in terms of sales in Vietnam for the seven years from 1998 until last year.
*1. VEAM Corporation: Vietnam Engine and Agricultural Machinery Corporation (this is the only engine and agricultural machinery manufacturing corporation under the umbrella of the Ministry of Heavy Industry of Vietnam)
*2. KUO (Asia) Pte Ltd.: a company of the KUO group of Singaporean trading companies
TMC Vice Chairman Fujio Cho and TMV President Makoto Sasagawa attended the ceremony, along with many guests. During the event, Cho remarked, "This foundation promises to be actively involved in working together with the people of Vietnam to assist in creating a richer lifestyle for everyone." Also, in commemoration of TMV's 10th anniversary, TMC donated a new ambulance to Quang Nam Province.
Establishment of the Toyota Vietnam Foundation, to be chaired by Sasagawa, will begin with 4 million U.S. dollars (approximately 440 million yen: 110 yen/dollar), all of which will be contributed by TMV. The foundation will help contribute to society with a strong emphasis on education, while also lending support to TMV's existing program of scholarships available to university students, and will be established with the following objectives in mind:
- To implement a traffic safety education program that targets elementary schools throughout Vietnam.
- To establish a series of "making things" seminars at Hanoi University of Technology, in order to nurture the next generation of industry leaders.
- To continue to support TMV's University Scholarships Program and the Vietnamese National Orchestra.
TMV was established with the approval of the Vietnamese government in September 1995 by a joint venture between TMC, VEAM Corporation*1 and KUO Pte Ltd.*2 Production and sales have continued steadily since then, and TMV has held the largest market share in terms of sales in Vietnam for the seven years from 1998 until last year.
*1. VEAM Corporation: Vietnam Engine and Agricultural Machinery Corporation (this is the only engine and agricultural machinery manufacturing corporation under the umbrella of the Ministry of Heavy Industry of Vietnam)
*2. KUO (Asia) Pte Ltd.: a company of the KUO group of Singaporean trading companies
