The Japan Bank for International Cooperation (JBIC) and the DI Asian Industrial Fund have signed an agreement for equity participation to support Vietnamese companies.
The fund, which is jointly managed by Tokyo-based Dream Incubator and ORIX Corporation, has been launched with an initial capital commitment of around ¥5bn (US$54.6mn), with JBIC providing ¥1bn (US$10.9mn).
The private equity fund will make investments in Vietnamese companies that need financing and technology to expand, as well as provide a matchmaking business to ally Vietnamese firms with Japanese counterparts for information sharing and trade.
JBIC remarks in a statement: “[The fund’s] investments are expected to stimulate the growth of Vietnamese firms, while also helping the business development of Japanese firms in Vietnam, a country which is promising as a manufacturing base as well as a market for consumer products.
“JBIC will stand firm behind Japanese industries, as they make efforts to maintain and improve their international competitiveness by drawing on a wide range of its financial instruments and schemes.”
Last Updated June 09, 2010
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