Monday, June 26, 2017 - 17:36:55

Japanese group to establish 252 mln USD fund, targeting Vietnam

VNA Print

Mizuho Financial Group will set up an 252 million USD investment fund early this summer to invest in small- and medium-sized companies in Southeast Asia (Photo: japantimes.co.jp)

Hanoi (VNA) – Japan’s Mizuho Financial Group will set up a 252 million USD (28 billion JPY) investment fund early this summer to invest in small- and medium-sized companies in Southeast Asia, Nikkei reported.

The fund is targeting businesses in countries such as Vietnam, Indonesia and Malaysia. Each selected SME will receive around 9 million USD (1 billion JPY).

Through this fund, the Japanese company may also support joint ventures between Japan and Southeast Asian nations, as well as send staff to the firms.

The group is likely to invest a total of more than 10 billion JPY, while other companies such as Dai-ichi Life Insurance will contribute several billion JPY. Other Japanese banks and European investors are also considering investing in the fund.

Southeast Asia is one of the fastest-growing regions in the world, with its rising population and growing middle-class, which are boosting the region’s economic growth.

Mizuho is Japan’s second largest financial group and among the top 20 largest financial groups in the world, with diversified investments in banking, stocks and investment funds. It has branches in Hanoi and HCM City and is Vietcombank’s largest foreign shareholder, with 15 percent stake.-VNA 
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